The Vietnam government issued Decree No. 72/2024/ND-CP on 30 June 2024, which provides for a further reduction in the VAT rate from 10% to 8% for a number of goods and services in the second half of 2024. The reduction is similar to prior VAT reductions, the most recent of which applied from 1 January 2024 to 30 June 2024.

The reduction generally applies for goods and services normally subje…