06/02/2009
The Vietnamese Ministry of Finance has just issued guidelines for cutting by half of value added tax on 18 items effective from February 1 through December 31 this year as part of government efforts to boost investments and consumption demand.
The Vietnamese Ministry of Finance has just issued guidelines for cutting by half of value added tax on 18 items effective from February 1 through December 31 this year as part of government efforts to boost investments and consumption demand.
The goods and services subject to the tax cuts include hotel, tourism services, coal mining, key chemicals, mechanicals, automobiles and spare parts, concrete, glass and tyre production, metallurgy excepting for gold mining, canal, seaport dredging services, transportation, loading and unloading of goods, and printing services except for money printing.
Besides, the MOF extends deadlines nine months for income tax payments for construction material production, food and foodstuff, fertilizer and engineering transactions.
The MOF will exempt tax for exports of furniture, rice and fertilizer, crude ores of copper, barite and apatite.
Late last year, the government of
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