On January 28, 2022, the Government issued Decree 15/2022/ND-CP stipulating the policy of tax exemption and reduction according to Resolution 43/2022/QH15 of the National Assembly, thereby guiding the reduction of Value Added Tax. (Hereinafter referred to as VAT) from 10% to 8% from February 1, 2022.

However, not all items subject to 10% VAT are reduced simultaneously, but many items remain at the same 10% tax rate, detailed in Appendix 1 and Appendix 2 to the Decree 15/2022/ND-CP.

Groups of goods not eligible for VAT reduction this time can be mentioned: Group of information technology products (computers, pos machines, monitors, projectors, smart cards, camcorders, popular mobile phones, etc.) smart…) Group of audiovisual electronic products, group of household electronic products (washing machines, microwave ovens, vacuum cleaners, air conditioners,...) Services (banking, insurance, finance, etc.) telecommunications, real estate…) Mining products (Lon coal, crude oil, liquefied natural gas, metal ore, stone, sand, gravel, clay, precious stones, diamonds, precious metals..) , Metals (aluminum, copper, iron, ...), some metal products and metal production services, etc.

In addition, Article 4 of Decree 15 also stipulates that business establishments must make separate invoices for goods and services eligible for value-added tax reduction. Suppose a business establishment does not issue a separate invoice for goods and services suitable for value-added tax reduction. In that case, it is not entitled to a deduction of value-added tax. This invisible gives the accounting department of enterprises a large amount of work at the beginning of the year.