Hotline: 08887 08817

Economist Pham Chi Lan: Raising VAT – For whom?

The VAT increase proposed by the Ministry of Finance prompt me to the question: For whom? In a country where the State affirms that it is "of the people, by the people, for the people", raising VAT is eventually for whom?

VAT increase may hike up real estate prices impacting tremendously businesses

The proposal for the two-percent VAT increase from January 1st, 2019 of the Ministry of Finance (MoF) may lead to a rise in real estate prices, which tremendously affects the economy, businesses and the daily life of the people.

MoF proposes VAT increase by 2%

The Ministry of Finance (MoF) has recently proposed to increase the value added tax (VAT) from 10% to 12%, effective from January 1st, 2019. It is estimated that more than half a million businesses and most of the people will be affected by the VAT increase.

Stock indexes
1,171.95 -10.82 -0.91
Volume: 584,388,589 Value: 14,577 (Billions VNĐ)
308.33 5.94 1.96
Volume: 76,189,942 Value: 1,519 (Billions VNĐ)
93.2 -0.41 -0.44
Volume: 33,852,209 Value: 654 (Billions VNĐ)
1,215.08 -8.68 -0.71
Volume: 172,770,300 Value: 5,860 (Billions VNĐ)