Government issues decree to push last companies to adopt e-invoicing The Vietnamese Prime Minister, Phạm Minh Chính, has issued a directive to drive adoption of e-invoicing by the small proportion of businesses not yet compliant. The Directive (No 129/CD-TTg) addresses the issue that, although the
Foreign sellers and intermediary digital platforms subject to new rules and rates 1st April 2025 The Vietnamese National Assembly has approved clarifications on non-resident VAT-registered business obligations, VAT rates, and improved deductibility for VAT credits. The changes, to come into effect from 1 April 2025,
Parliament votes to withdraw VND 1m VAT-exemption on B2C imports The Vietnamese parliament, the National Assembly, on 26 November 2024 voted to end its VND 1million (approx €36 or $40) low value consignment relief. This exempts from VAT parcels imported from Vietnam destined for consumers.
General Department of Taxation launched a virtual VAT assistant The Vietnamese General Department of Taxation has introduced an AI-powered virtual tax assistant, with a focus to boost VAT e-commerce compliance Vietnam has already announced that it will be adopting Artificial Intelligence to help identify tax
Ministry of Finance proposal for further 6-month extension of cut to 8% for key sectors A 2% VAT rate cut on essentials first brought in by the Vietnamese Ministry of Finance in February 2022 is to be extended. This time from 31 December 2024 until
E-commerce platforms may have to collect VAT on behalf of their sellers The General Department of Taxation is considering imposing VAT collection obligations – deemed supplier – on online marketplaces. This would require them to act as the VAT reporter instead of their third-party sellers
VAT registration threshold rise and other changes The Vietnamese Ministry of Finance has released for public consultation a range of VAT changes. Once reviewed, these will pass to the National Assembly for approval. The changes include: Rise in the VAT registration threshold to VND 150m
Ministry of Finance say considering repeat of 2022 rate cut from 10% to 8% on basics to boost flagging growth The Vietnamese Finance Ministry has indicating it will repeat into 2023 a VAT rate cut on basic supplies. The Vietnamese economy growth is slowing: Q1
Quarterly user transaction reporting to help detect VAT fraud Vietnam has joined many countries around the world in requiring digital marketplaces / platforms to provide the tax authorities with detailed reporting on their sellers or users transactions. Marketplace operators must now provide the following levels
2% temporary cut in VAT rate Feb to Dec 2022 expires Vietnam’s standard VAT rate on a range of supplies will return to 10%. Between 1 February and 31 December 2022, the rate has been cut to 8% to help stimulate the economy which is struggling
