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Vietnam plans no VAT cuts for banking, property sectors

HANOI, May 16 (Xinhua) — As Vietnam is ready to extend a cut to value-added tax (VAT) in a move to boost the flagging economy, lawmakers will not support a reduction for the banking, securities, real estate, and insurance sectors, online newspaper VnExpress reported on Tuesday.

The Standing Committee of the National Assembly, a key committee of Vietnam’s parliament, told a meeting last weekend that the governme