Impacts of vat reduction policy under Resolution 43/2022/QH15 on economy - social and learnings learned in Viet Nam

Abstract

In the period of 2020-2021, our country heavily been affected by the Covid-19 pandemic, the so Government of Viet Nam has issued a policy package to reduce VAT according to Resolution 43/2022/QH15 in order to restore the economy. In the process of implementing this package of tax reduction policies, the Government not only aims to recover the whole country's economy after the pandemic, but also contributes to supporting consumers and businesses to overcome the consequences of the Covid-19 pandemic. Although there are many benefits that people and businesses receive from this policy package, there are also many difficulties in the process of implementing it. On the basis of research, using comparative methods and analyzing data, evaluate the advantages and limitations of the VAT reduction policy package for consumers, businesses and the Government. From there, the authors they give lessons learned that can be a reference for the authorities to remove limitations for future solution packages.