top of page

July 2023 Tax Alert (1)

Decree No.44/2023/ND-CP stipulating value-added tax reduction policy by resolution No.101/2023/QH15, June 24,2023 issued by National Assembly


Officially reduce 2% Value added tax (“VAT”) rate from 01 July 2023


On June 30, 2023, the Government issued Decree 44/2023/ND-CP stipulating the value-added tax reduction according to Resolution 101/2023/QH15.


Pursuant to Clause 2, Article 1 of Decree 44/2023/ND-CP, the VAT reduction is prescribed as follows:

  • For business units and establishments that calculate VAT by the deduction method: Apply the VAT rate of 8% for the group of goods and services eligible for tax reduction under Decree 44.

  • For business units, establishments and individuals that calculate VAT by the direct method: Apply a 20% reduction of the % rate to calculate VAT when issuing invoices for groups of goods and services eligible for tax reduction under Decree 44.

Basically, the Decree 44/2023/ND-CP has not changed much content compared to Decree 15/2022/ND-CP. Below is a summary of some significant amendments in the content of Decree 44:

In addition, Decree 44/2023/ND-CP mainly amends some HS codes to be consistent with the HS codes according to the List of Vietnam's exports and imports issued together with Circular 31/2022/TT-BTC.


The VAT reduction as prescribed in Decree 44/2023/ND-CP is applied from July 1, 2023 to December 31, 2023.

Bản tin nhanh T7.1 - EN
.pdf
Download PDF • 819KB

23 views

Related Posts

See All

JUNE 2024 NEWS SUMMARY

DECREE NO. 64/2024/ND-CP ON EXTENDING THE DEADLINE FOR PAYING TAXES AND LAND RENT IN 2024 Issued by: Gorverment Issued date: 17 June 2024 Effective date: 17 June 2024 Expiration date: 31 December 2024

Comments

Couldn’t Load Comments
It looks like there was a technical problem. Try reconnecting or refreshing the page.

Newsletter

Bạn mong muốn nhận được tư vấn của đội ngũ chuyên gia RSM Việt Nam, vui lòng gửi câu hỏi tại đây

You have successfully submitted your registration information. Thank you.

bottom of page