{"id":15910,"date":"2025-05-23T16:37:00","date_gmt":"2025-05-23T09:37:00","guid":{"rendered":"https:\/\/brochure.crowevietnam.vn\/en\/?post_type=news&#038;p=15910"},"modified":"2025-07-09T13:34:03","modified_gmt":"2025-07-09T06:34:03","slug":"2024-vat-reduction-policy-under-decree-no-94-2023-nd-cp","status":"publish","type":"news","link":"https:\/\/brochure.crowevietnam.vn\/en\/news\/2024-vat-reduction-policy-under-decree-no-94-2023-nd-cp\/","title":{"rendered":"2024 VAT Reduction Policy under Decree No. 94\/2023\/N\u0110-CP"},"content":{"rendered":"<p><a href=\"https:\/\/brochure.crowevietnam.vn\/en\/wp-content\/uploads\/2024\/02\/94_2023_ND-CP_589156.pdf\" target=\"_blank\" rel=\"noopener\">Download the Decree<\/a><\/p>\n<p><strong>On December 28, 2023, the Government issued Decree No. 94\/2023\/N\u0110-CP on the VAT reduction policy in accordance with Resolution No. 110\/2023\/QH15. The Decree takes effect from January 1, 2024, until June 30, 2024.<\/strong><\/p>\n<p>Key highlights are as follows:<\/p>\n<p><strong>First, a 2% VAT reduction is applied to goods and services currently subject to the 10% VAT rate, excluding the following categories:<\/strong><\/p>\n<p>Telecommunications, financial activities, banking, securities, insurance, real estate business, metals and fabricated metal products, mining products (excluding coal mining), coke, refined petroleum, and chemical products.<\/p>\n<p>Goods and services subject to special consumption tax.<\/p>\n<ul>\n<li>Information technology products and services as defined under the law on information technology.<\/li>\n<li>The VAT reduction specified in Clause 1, Article 1 of Decree 94\/2023\/N\u0110-CP shall be uniformly applied across all stages: importation, production, processing, and commercial business. For coal sold after mining (including cases where coal is screened and classified under a closed process before sale), VAT reduction is applicable. However, coal items listed in Appendix I of the Decree, at stages other than direct sale after mining, are not eligible for VAT reduction.<\/li>\n<li>If the goods and services listed in Appendices I, II, and III of the Decree fall under non-taxable or 5% VAT according to the Law on VAT, then the applicable provisions of the Law on VAT shall prevail, and the VAT reduction under this Decree shall not apply.<\/li>\n<\/ul>\n<blockquote><p>Refer to Appendices I, II, and III attached to the Decree for details.<\/p><\/blockquote>\n<p><strong>Second, regarding the procedures for implementing the 2024 VAT reduction:<\/strong><\/p>\n<p>The procedure is as follows:<\/p>\n<p>For business establishments eligible for the 8% VAT rate, when issuing VAT invoices for goods and services subject to VAT reduction, the VAT rate line must state \u201c8%\u201d, along with the reduced VAT amount and the total amount payable by the buyer.<\/p>\n<p>Based on the VAT invoice, the seller declares output VAT, and the buyer declares input VAT deduction according to the reduced tax amount specified on the invoice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download the Decree On December 28, 2023, the Government issued Decree No. 94\/2023\/N\u0110-CP on the VAT reduction policy in accordance with Resolution No. 110\/2023\/QH15. The Decree takes effect from January 1, 2024, until June 30, 2024. Key highlights are as follows: First, a 2% VAT reduction is applied to goods and services currently subject to [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":15911,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"new_categories":[115],"class_list":["post-15910","news","type-news","status-publish","has-post-thumbnail","hentry","new_categories-tax"],"acf":[],"_links":{"self":[{"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/news\/15910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/comments?post=15910"}],"version-history":[{"count":0,"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/news\/15910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/media\/15911"}],"wp:attachment":[{"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/media?parent=15910"}],"wp:term":[{"taxonomy":"new_categories","embeddable":true,"href":"https:\/\/brochure.crowevietnam.vn\/en\/wp-json\/wp\/v2\/new_categories?post=15910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}