Inventory SystemDecree No. ND180_31122024CP[E] dated December 31, 2024, issued by the Government, stipulates the VAT reduction policy according to Resolution No. 174/2024/QH15 dated November 30, 2024, of the National Assembly (104 pages).
This decree outlines which goods and services are eligible and ineligible for a 2% VAT reduction during the period from January 1, 2025, to June 30, 2025.
Accordingly, except for the groups of goods and services specified in points a, b, c of Clause 1, Article 1 (details in Appendices I, II, III) issued with this decree, all goods and services currently applying a VAT rate of 10% will have the VAT reduced by 2% (to a rate of 8%) during the first 6 months of 2025.
When issuing VAT invoices for goods and services eligible for the tax reduction, the seller should state “8%” in the VAT rate line. The parties involved should declare both the output and input VAT based on the reduced VAT rate indicated on the invoice.
Sellers must declare the goods and services eligible for the VAT reduction using Form No. 01 in Appendix IV of this decree and submit it along with the VAT tax declaration form.
This decree is effective from January 1, 2025, to June 30, 2025.