- Draft Law on Value-Added Tax proposes a 10% VAT tax on most exported services in Vietnam
- Imposing this tax will make it difficult for Vietnamese service providers to compete internationally
- Many believe the proposed tax is unfair and will reduce the competitiveness of Vietnamese businesses
- Implementing the tax will disadvantage export businesses, reduce export turnover, and create complex tax procedures
- The proposed regulations do not align with Vietnam’s focus on promoting exports
- Exported services play a crucial role in changing Vietnam’s economic structure and increasing export turnover
- Exported services have significant potential for development and do not require large investment capital
- Applying a 10% VAT tax to exported services will reduce competitiveness and encourage investors to seek opportunities abroad, leading to loss of tax revenue and foreign currency reserves.
Source: aslgate.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.
