Which objects are not subject to VAT?

• The Ministry of Finance proposes narrowing down the list of goods and services exempt from VAT in the draft amendment to the VAT Law.
• The proposed changes include adding provisions on fees in government loan contracts with foreign lenders, securities business, debt sales, and certain services.
• The draft also suggests changing the tax status of postal and telecommunications services, public parks and gardens, and certain software products.
• The threshold for individuals engaged in business activities to be exempt from VAT is proposed to be increased from 100 million to 150 million VND per year.
• The draft also includes provisions on tax exemptions for imported goods supporting disaster relief, as well as for movable assets and goods traded by border residents.

Source: baochinhphu.vn

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.

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