- New law on Value Added Tax (VAT) approved by National Assembly of Vietnam
- Effective from 1st of July 2025
- Modernizes and consolidates existing VAT regulations
- Key changes include expanded taxpayer definitions, removal of non-cash payment thresholds, revised VAT rates and exemptions, and new VAT refund categories
- Reclassifies certain goods and services into higher VAT rate groups
- VAT exemption threshold for individuals and households to increase to VND 200 million annually from 1st of January 2026
- 2% VAT rate reduction extended for first half of 2025, maintaining temporary 8% VAT rate
Source: taxand.com
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.
