Resolution No. 204/2025/QH15 of the National Assembly of Vietnam regarding the reduction of the Value-added tax (VAT).

The main points of the Resolution are as follows:

• A 2% reduction in the VAT rate (resulting in an 8% rate) is applied to groups of goods and services specified in Clause 3, Article 9 of the Law on Value-Added Tax No. 48/2024/QH15.
• Exclusions not eligible for the tax reduction include: telecommunications; financial, banking, and securities services; insurance; real estate business; metal products; mineral products (excluding coal); and goods and services subject to special consumption tax (excluding gasoline).

The Resolution shall be effective from July 1, 2025, until the end of December 31, 2026.

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