Proposal to eliminate reduced rate as part of wider 2030 tax simplification plans Vietnam has proposed consolidating its reduced rate of 5% with the standard rate of 10%. The reduced rate currently includes: Basic foodstuff; transport; agriculture; medicines; cultural, cinema; books; education; scientific and tech.
VAT subsidy for tourism and hotel sectors Austria has extended its COVID-19 reduced VAT rates on hospitality and hotels until 31 December 2021. The reduction were introduced on 1 July 2020 and was due to expire on 31 December 2020. The reduced rate cuts are