- Vietnam will impose VAT on low-value imported goods sent via express delivery services starting February 18.
- The decision revokes a previous decision that exempted these goods from VAT.
- The new policy aligns with international practices and aims to expand the tax base.
- The GDC estimates that the new policy could increase state budget revenue by VND2.7 trillion.
- The policy is expected to create fair competition between domestic and imported goods and strengthen state management.
- The GDC anticipates challenges in enforcing the new policy, including increased workload for customs officers and the need for system upgrades.
- The GDC will request the Ministry of Finance to issue implementation guidelines for customs departments and express delivery service providers.
Source: thestar.com.my
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.
