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Proposed VAT reduction expected to boost consumption, businesses' growth

Proposed VAT reduction expected to boost consumption, businesses' growth

The Ministry of Finance (MoF) has proposed a 2% reduction in value-added tax (VAT) from July 1, 2025 to December 31, 2026, expanding eligibility to include fuel, petroleum, and certain technology products and services. Experts have believed the measure will stimulate consumption, support businesses, and drive economic growth.
Economy
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