- Vietnam’s National Assembly passed a new VAT law on 26 November 2024
- The new law will replace the current VAT law from 2008 and takes effect on 1 July 2025
- Key changes include an expanded definition of “taxpayer,” changes in tax rates, and adjustments to VAT liability
- Foreign businesses in e-commerce and digital sectors will be impacted
- Definition of “taxpayer” now includes foreign suppliers in e-commerce and digital platforms
- Vietnam has VAT rates of 0%, 5%, and 10%
- Changes in rates for goods and services eligible for preferential and standard VAT rates
- Not-subject-to-VAT status changes for business households and individuals earning less than VND 200 million
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
