Vietnam VAT hike proposal
- Jul 2, 2018 | Richard Asquith
Vietnam’s government is considering a VAT rise from the current 10% standard and 5% reduced rates. The tax rise is required to meet commitments to reduce import tariffs.
There are two proposals under review by the Finance Ministry:
- 1. Raise the standard rate from 10% to 12%, and the reduced rate from 5% to 6%; or
- 2. Consolidate all supplies currently on the two rates at a single, 10% rate.