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VAT

Should Việt Nam implement VAT on fertilisers?

Should Việt Nam implement VAT on fertilisers?

A contentious debate has arisen over whether Việt Nam should impose a 5 per cent VAT on fertilisers to boost local production or retain the current tax exemption to support farmers.
Film companies want VAT cut, not an increase

Film companies want VAT cut, not an increase

Businesses in the film industry have proposed a reduction in the value added tax (VAT) from current 5 per cent to 3 per cent in order to promote the development of the industry.
NA deputies and fertiliser manufacturers call for VAT tax benefits

NA deputies and fertiliser manufacturers call for VAT tax benefits

National Assembly deputies have been debating whether a 5 per cent VAT tax on fertiliser should be reintroduced during a season in Hà Nội.
Taxpayers call for stricter measures to accelerate VAT refunds

Taxpayers call for stricter measures to accelerate VAT refunds

The HCM City Tax Department has retroactively collected VNĐ36.7 billion, indicating that VNĐ127 billion cannot be refunded or offset. As of June 2020, the unresolved VAT amount has surged to VNĐ366 billion.
Imposing 5% VAT on fertilisers will bring difficulty to farmers

Imposing 5% VAT on fertilisers will bring difficulty to farmers

If 5 per cent VAT is added to fertilisers, farmers will be greatly affected because prices will increase, leading to higher cost of agricultural products.
HCM City Tax Department refunds VNĐ4.7 trillion of VAT

HCM City Tax Department refunds VNĐ4.7 trillion of VAT

The HCM City Tax Department said that in the first six months of the year, the department refunded nearly VNĐ4.7 trillion (US$203 million) of value-added tax (VAT) to businesses in the area.
8% VAT rate extended to the end of this year

8% VAT rate extended to the end of this year

The Vietnamese Government has agreed to extend VAT reduction to 8 per cent to the end of this year
Businesses concerned over removal of VAT exemptions

Businesses concerned over removal of VAT exemptions

The abolition of the 0% value-added tax for export products and services is expected to increase production costs and reduce Vietnamese products’ ability to compete internationally, said industry insiders.
NA committee supports removing VAT exemption on low-value, imported e-commerce products

NA committee supports removing VAT exemption on low-value, imported e-commerce products

The National Assembly’s Finance and Budget Committee supports the removal of the value added tax waiver for low-value goods equal to or less than VNĐ1 million (US$39.30) imported via e-commerce platforms such as Shopee, Lazada and TikTok.
Businesses face difficulties in declaring goods eligible for VAT cut

Businesses face difficulties in declaring goods eligible for VAT cut

Businesses have been facing many difficulties in claiming goods eligible for the government''s two per cent tax cut, said Đậu Anh Tuấn, deputy secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI) and head of its legal department.
VAT reduction of 2% for some goods and services expected to continue

VAT reduction of 2% for some goods and services expected to continue

The Ministry of Justice has been looking keeping the reduction in VAT until the end of year, following a draft resolution of the National Assembly on VAT reduction, chaired by Deputy Minister Trần Tiến Dũng.
Businesses and people expect VAT cut extension to be approved

Businesses and people expect VAT cut extension to be approved

The VAT reduction from 10 per cent to 8 per cent is being implemented according to Resolution 110/2023/QH15, from January 1 to June 30, 2024. 
Government proposes extending VAT cut until year end

Government proposes extending VAT cut until year end

The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year to support business and production activities.
5% VAT on fertilisers to create fairer market: domestic producers

5% VAT on fertilisers to create fairer market: domestic producers

The absence of VAT on fertilisers has prevented domestic producers from declaring and deducting input VAT, which leads to higher cost of domestically produced fertilisers, by an estimated 5-8 per cent, and makes them vulnerable in competition from imported fertilisers.
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.