5 Major Developments in Vietnam

5 Major Developments in Vietnam

• HCMC Tax Authority Removes Obstacles to Speed Up VAT Refunds for Businesses

• Government Agrees to Reduce VAT by 2% in the First Half of 2024

• Application of IT in Classifying Tax Refund Documents to Accelerate VAT Refunds

• CBAM Mechanism: Companies need to Report Emissions from Electricity Consumption

• Tax Authority Returns nearly $3 Billion in VAT

CBAM

• CBAM Mechanism: Companies need to Report Emissions from Electricity Consumption

Country Guides

• VAT Guide for Businesses with Customers in Vietnam

Customs

• Proposal of the General Department of Customs to amend Article 35, Decree No. 08/2015/ND-CP on in-land import-export activities

Deduction (Input Tax Credit)

• Amendment of VAT refund regulations for investment projects to promote economic development

• Today’s View: VAT Exemption – Incentives or Abuse?

• Government’s approval for five groups of policies to be amended in the Law on VAT

• VAT-exempt status more of hindrance than help

• Domestic Products are Taxed Higher than Imports

Environmental Tax

• Government Proposes 2% VAT Reduction Extension and Environmental Tax Continuation

Exemption

• Today’s View: VAT Exemption – Incentives or Abuse?

• Chairman of the Economic Committee: Continue to Reduce VAT to Stimulate Growth and Consumption

• VAT-exempt status more of hindrance than help

Export

• VAT Refund helps Wood Enterprises have Capital Flows for Production and Business Activities

Importation

• VAT-exempt status more of hindrance than help
• Domestic Products are Taxed Higher than Imports
• Proposal of the General Department of Customs to amend Article 35, Decree No. 08/2015/ND-CP on in-land import-export activities

Rate

• Reducing VAT will Empower People More

• 2% VAT Reduction and the Story of Stimulating the Economy

• Vietnam: Tax Reduction for Construction Projects Implemented by State Budget

• Proposal to Continue Reducing 2% VAT until June 30, 2024

• Vietnam to Extend VAT Cut Until June to Boost Consumption Amid Sluggish Global Economy

• Reduced VAT Rate Expected to give Economic Boost

• Vietnam Plans to Extend VAT Cut until End-June 2024 – Govt

• Government Agrees to Reduce VAT by 2% in the First Half of 2024

• Proposal to Continue Reducing VAT in 6 Months of 2024

• Application of 8% or 10% VAT rate in Vietnam

• Proposed Reduction of VAT by 2% in the First Half of Next Year

• Vietnam Set To Extend Two Percent VAT Cut

• Government Proposes 2% VAT Reduction Extension and Environmental Tax Continuation

• VAT Continues to be Proposed to be Reduced in the First 6 Months of 2024

• Government Plans to Extend VAT Cut Until Mid-2024 to Support Businesses and Consumers

• Today’s View: VAT Exemption – Incentives or Abuse?

• How to reduce VAT in the field of construction?

• Chairman of the Economic Committee: Continue to Reduce VAT to Stimulate Growth and Consumption

• Ministry of Finance provides guidance on objects of VAT reduction

• Government’s approval for five groups of policies to be amended in the Law on VAT

• Rates of Direct VAT applied to various Business Lines in Vietnam

• VAT rate change guidance for hotel accommodation services

• Ruling: Reduced rate for e-commerce enterprise and a distribution agent for goods and services?

• Summary of notable points in the Draft Law on Special Consumption Tax of Vietnam

• Banking organisations seek VAT reduction addition

• Vietnam Introduces a Reduced VAT Rate from 1 July 2023

• Vietnam Gazettes Decree Introducing VAT Reduction Policies

• International VAT Rate Round Up: July 2023

• Vietnam Cuts VAT by 2% to Stir Up Demand

• Guidance necessary for the new VAT plan

• Vietnam Introduces a Reduced VAT Rate from 1 July 2023

Real Estate/Immovable Property

• Vietnam: Tax Reduction for Construction Projects Implemented by State Budget
• How to reduce VAT in the field of construction?

Refund

• HCMC Tax Authority Removes Obstacles to Speed Up VAT Refunds for Businesses

• Application of IT in Classifying Tax Refund Documents to Accelerate VAT Refunds

• Vietnam’s Efforts to Improve VAT Refund Process and Boost Business Development

• Amendment of VAT refund regulations for investment projects to promote economic development

• VAT Refund helps Wood Enterprises have Capital Flows for Production and Business Activities

• The Voluntary Committee is Evaluating the Settlement of VAT Refunds for Businesses

• VAT Refunds for Software Developers in Vietnam

• Government’s approval for five groups of policies to be amended in the Law on VAT

• Software Exporters in Vietnam Should Plan to Maximize VAT Refund

• Tax Authority Returns nearly $3 Billion in VAT

• Expediting VAT Refunds

• The General Department of Taxation is strongly directing tax authorities at all levels in the settlement of value-added tax (VAT) refunds, requiring the heads of provincial and municipal Tax Departments to take full responsibility for the management of VAT refunds in the locality, not to leave a backlog. Enterprises also need to increase transparency and be proactive in preparing tax refund applications, reviewing and avoiding delay in receipt and settlement.

Reporting / Compliance

• Rates of Direct VAT applied to various Business Lines in Vietnam

Taxable Transaction

• Summary of notable points in the Draft Law on Special Consumption Tax of Vietnam

• Vietnam’s Government Delays Decision to Tax Online Gaming

Tax Authorities / Penalties / Interest

• Need for comprehensive coordination to effectively support VAT policies