- Vietnam is proposing new VAT rules for e-commerce and digital platforms.
- The rules aim to increase tax collection efficiency and create a fair business environment.
- The proposed rules include a deemed supplier rule, making platforms liable for tax payments on behalf of sellers.
- The draft regulation sets clear rules on when and how taxes should be deducted for e-commerce transactions.
- The applicable VAT rates are 1% for goods, 5% for services, and 3% for transportation.
- Platforms must report and pay deducted taxes every month.
- Domestic and foreign platform operators receive a 10-digit tax code for tax returns and payments.
- The consultations are open to all interested parties to submit comments and suggestions.
Source: vatabout.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.
