Vietnam announces VAT cuts
In Vietnam, VAT rate cuts on various goods and services recently come into force, effective until the end of this year.
A 30 percent reduction is in place from November 1 in relation to the VAT chargeable on:
• all forms of transportation;
• accommodation services;
• food and beverage services;
• travel agency and tour operator services, and support services related to the promotion and organization of tours;
• publishing products and services;
• audiovisual entertainment;
• cultural activities; and
• sports and entertainment services (excluding digitally traded services, including software).
For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look