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To boost domestic consumption and production, the Vietnam government announced to extend the temporary value-added tax (VAT) reduction policy that the VAT of the goods and services that are currently applied with 10% value-added tax rate will be reduced to 8%, for the period from July 1 to December 31, 2023. The invoices which are issued to both outbound bill shipper and outbound bill consignee related to TNT outbound shipments originating from Vietnam and any ancillary services performed and consumed in Vietnam during this period will reflect the reduced rate of 8%.
The VAT below will apply to all customers in relation to all shipments originating from Vietnam and any ancillary services performed and consumed in Vietnam, including payers billed outside and inside Vietnam:
Origin of Shipment
Goods and services
Goods and services that are applying the value-added tax rate of 10%
Vietnam VAT rate 8%
July 1, 2023, to December 31, 2023, both days inclusive.
If you have any questions on the above, please contact your sales representative or reach us at the enquiry hotline on your TNT invoice.