- Ministry of Finance rejects proposal to raise VAT threshold to VNĐ300 million
- Concerns that higher tax threshold would deter household businesses from converting to enterprises
- Current proposal maintains threshold at VNĐ150 million per year for VAT tax
- Suggestions from different agencies for threshold range from VNĐ180 million to VNĐ300 million
- 5.5 million household businesses in Vietnam account for 30% of GDP
- VAT accounts for more than 20% of government’s budget revenues
- 2% VAT reduction policy extended till end of June due to economic difficulties
Source: vietnamnews.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.
