- Vietnamese National Assembly considering bill to amend VAT Law
- Bill includes measures such as specifying time of determining VAT, maintaining current provisions, explaining VAT rate for imports and exports
- Also includes amendments on input VAT deductions, refunds, tax-exempt individuals, and tax rates
- Proposes applying 5 percent VAT rate on specific goods and reducing other supplies under 5 percent rate
- Specifies categories of goods not subject to zero percent VAT
- Narrowing categories exempt from VAT, including securities trading and debt sales
- Specifies VAT exemption for computer software products and services
- Assigns Minister of Finance to guide procedures for zero percent VAT on export services
- Repeals certain provisions regulating invoices and documents
Source: news.bloombergtax.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.
