VAT reduction on asset insurance proposed
Par Vietnam aujourd'hui le mercredi 25 février 2009, 08:34 - News in english - Lien permanent
Speaking to Tuoi Tre newspaper yesterday, general Secretary of Vietnam Insurance Association, Phung Dac Loc said that the institution proposed to the government and the finance ministry to reduce VAT on asset insurance by half from 10% to 5%.
Also, the association proposed government's interest rate support for economic institutions buying insurance. Many businesses, cooperatives, small households are facing problems in production and businesses so they cut down the insurance cost for workshop, equipment, machines, materials and goods.
Many countries in the world do not impose VAT on insurance service.
Tuoi Tre - February 25, 2009
