The Vietnamese Ministry of Finance Feb. 23 opened a consultation to develop a draft bill to amend the VAT Law. The agency explains measures to: 1) expand the tax base; 2) combat VAT fraud; 3) ensure correct collection; 4) reduce the number of supplies not subject to VAT, or subjected to the 5 percent reduced rate; 5) increase the 10 percent standard rate; 6) amend regulations on input VAT deductions, refunds and refund procedures, and calculation prices for real estate business activities; and 7) amend and supplement regulations on export services…
Source: bloombergtax.com
