– Proposal to continue reducing VAT by 2% in the last 6 months of 2024
The National Assembly Standing Committee agreed to submit to the National Assembly for consideration and decision to continue reducing the value-added tax (VAT) rate by 2% for a number of groups of goods and services currently applying the 10% VAT rate. until the end of 2024
On the morning of June 13, continuing the 34th session, under the direction of Vice Chairman of the National Assembly Nguyen Duc Hai, the National Assembly Standing Committee gave comments on the draft Resolution of the National Assembly on reducing value added tax. (Reported to the National Assembly and resolved in the Resolution of the 7th Session of the 15th National Assembly).
Discussing the draft Resolution, the National Assembly Standing Committee members basically agreed with the Government’s submission to the National Assembly for consideration, allowing the continued implementation of the policy of reducing the value added tax rate by 2% ( VAT) for a number of groups of goods and services that are applying a 10% VAT rate in the last 6 months of 2024 (from July 1, 2024 to December 31, 2024) and assigned the Government to organize implementation. presently.
Members of the National Assembly Standing Committee believe that continuing to implement the 2% VAT reduction policy is appropriate for the current economic context.
– Will the exchange rate “heat” decrease in June and July?
According to MBS’s assessment, the exchange rate will fluctuate between 25,100 – 25,300 USD/VND in June and July. The stability of the macro environment will likely be maintained and further improvement will be the basis. to stabilize exchange rates in 2024…
Recently, MB Securities Company (MBS Research) announced the macroeconomic report for June 2024 with the emphasis that the exchange rate will fluctuate between 25,100 – 25,300 USD/VND in June and July.
The MBS expert group forecasts that the exchange rate will fluctuate between 25,100 – 25,300 USD/VND in June and July thanks to positive factors. Specifically, the macro factors that will support the exchange rate are the positive trade surplus when the accumulation of the first 5 months of 2024 reaches 8 billion USD, the realized FDI inflow in 5 months is estimated to reach 8.2 billion USD, respectively. increased 7.8% over the same period. At the same time, the tourism industry recovered strongly with an increase of 64.9% over the same period in the first 5 months of this year.
Accordingly, the MBS team assessed: “The stability of the macro environment is likely to be maintained and further improved, which will be the basis for stabilizing exchange rates in 2024.”
– Stocks increased continuously despite foreign investors net selling 1.6 billion USD
VN-Index set a new record in index growth after 2 years in the context of strong net selling by foreign investors from the beginning of the year until now. Vietnam’s stock market received many positive signals,
Recently, the market has witnessed a series of positive fluctuations, an upward trend after a decline in April. Typically, when VN-Index left the old peak at 1,290 points, reaching 1,300 points yesterday session (12 /6). This is the point that exceeded the old peak in the past 2 years. The upward momentum continued to be maintained this morning (June 13).
This shows that domestic investor psychology is somewhat strengthened, reducing worries in the context of foreign investors being strong net sellers.
From the beginning of the year until now, on HOSE, foreign investors have net sold 40,000 billion VND, equivalent to 1.6 billion USD. The market has also witnessed a previous sell-off move in 2021, resulting in the net selling value exceeding VND 58,000 billion, setting a record for the strongest selling in the Vietnamese stock market.
Strong net selling force of foreign investors from the beginning of the year until now, recorded in Vinhomes real estate stocks (VHM, HOSE), the value is around 11,000 billion VND, of which more than 8,000 billion VND of shares were net sold in matching orders. . Therefore, the value of VHM shares from the beginning of the year until now has decreased by more than 12%.
In addition, FPT technology stocks (FPT, HOSE) are also suddenly in the sights of foreign investors. However, FPT’s market price still maintains a strong upward momentum, continuously setting new records.