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value-added tax

2-per-cent VAT reduction extended to the end of June

2-per-cent VAT reduction extended to the end of June

The National Assembly has approved an extended reduction of value added tax (VAT) from 10 per cent to 8 per cent until the end of June.
From 2026, small businesses with revenues under VNĐ200 million will be exempt from VAT

From 2026, small businesses with revenues under VNĐ200 million will be exempt from VAT

From January 1, 2026, individuals and household businesses earning under VNĐ200 million annually will be exempt from VAT.
Tax, land rent payment deadlines to be extended this year

Tax, land rent payment deadlines to be extended this year

Việt Nam will extend 2024 payment deadlines for VAT, corporate income tax, personal income tax and land rent, impacting nearly VNĐ84 trillion (US$3.3 billion) in total taxes.
Vietnamese digital service providers set up shops overseas to avoid VAT tax

Vietnamese digital service providers set up shops overseas to avoid VAT tax

The chamber, however, said many companies have been forced to set up operations overseas to avoid the 10 per cent VAT, which according to them, was still collected because "tax officers could not distinguish between digital services meant for domestic...
VCCI proposes zero tax rate to be maintained for exported services

VCCI proposes zero tax rate to be maintained for exported services

Việt Nam’s export of services reached $20 billion in 2023 with an average annual growth rate of 11 per cent, higher than the country’s gross domestic growth rate.
Debates on proposed VAT Law Amendments over revenue thresholds

Debates on proposed VAT Law Amendments over revenue thresholds

Many stakeholders argue that the Ministry of Finance''s proposed threshold of VNĐ150 million is still relatively low.
Ministry drafts amendments to increase VAT management

Ministry drafts amendments to increase VAT management

The ministry said that the VAT law will be amended to expand the tax base, ensure transparency and eligibility, increase tax management efficiency, prevent tax avoidance and evasion, and ensure stable revenue to the State budget.
VAT-exempt status more of hindrance than help

VAT-exempt status more of hindrance than help

Given that input VAT credits can amount to between 1.0 to 8.0 per cent of product prices, the "free launch" has tilted the playing field significantly in favor of foreign producers.
Ministry proposes extension of tax payment deadline

Ministry proposes extension of tax payment deadline

The ministry said the extension would support enterprises to overcome difficulty and have resources to invest in production and business, adding that the extension would not affect the state budget balance at both central and local levels.
Suspending VAT refunds will harm cassava industry

Suspending VAT refunds will harm cassava industry

The Viet Nam Cassava Association has proposed the Government does not implement a recent decision on value-added tax (VAT) refunds for cassava starch products as it will difficulties for the cassava industry.
VAT reduction: impacts and problems in execution

VAT reduction: impacts and problems in execution

Viet Nam’s Government slashed the value-added tax (VAT) rate from 10 to 8 per cent earlier this month – a move that cost the State budget VND49.4 trillion (US$2.2 billion) but, along with other support, is expected to help boost...
VAT cut boosts economy

VAT cut boosts economy

The reduction of value added tax (VAT) from 10 to 8 per cent will help stimulate various sectors in the economy.
New tax policy for ride-hailing services sets off storm

New tax policy for ride-hailing services sets off storm

Earlier this month the Government’s amendment of tax regulations for ride-hailing services, which increases the tax they actually pay, was a topic of hot debate in the media.
Finance ministry to consider 5% VAT on fertiliser

Finance ministry to consider 5% VAT on fertiliser

According to the Viet Nam Fertiliser Association, since the law came in force, the prices of fertiliser products in the domestic market rose by 7.2-7.6 per cent compared to when a VAT rate of 5 per cent was imposed previously.
Businesses seek tax reduction to foster recovery after pandemic

Businesses seek tax reduction to foster recovery after pandemic

The COVID-19 pandemic is a huge challenge for businesses irrespective of sector and size in all regions and countries, including Viet Nam.