HÀ NỘI — Some legislators on Saturday proposed the two per cent reduction in value-added tax (VAT) under a resolution of the National Assembly (NA) be extended to continue supporting the country's socio-economic recovery and development. 43/2022/QH15, dated January 11, 2022, on the fiscal and monetary policies supporting the socio-economic recovery and development programme, and of the NA’s resolutions on some nationally important projects through 2023. Participants shared the view that Resolution 43 is a right and timely move significantly contributing to the COVID-19 fight and socio-economic recovery and development. He held that the 2 per cent VAT rate cut under this resolution has shown positive and direct impacts on society, helping reduce production costs, guarantee social security and assist with people’s life. Echoing that view, Trần Anh Tuấn, a deputy from the HCM City delegation, said the VAT rate cut is among the successful policies that have benefited the economy.

Source: Viet Nam News May 26, 2024 10:26 UTC