Vietnam Considers VAT on Cross-Border E-Commerce Goods to Boost Revenue Streams

• Vietnam is considering imposing VAT on goods valued below 1 million dong traded through platforms like TikTok and Shopee
• The Finance and Budget Committee Chairman advocates for this measure to increase national revenue and broaden the tax base for cross-border e-commerce activities
• Vietnamese Finance Minister Hu Duc Phuc supports maintaining the 10% tax rate to address economic challenges
• Vietnam exempts businesses, households, and individuals earning less than 100 million VND annually from VAT
• The Vietnamese government plans to propose amendments to the VAT law during the 7th National Assembly session in May
• Chinese e-commerce enterprises may need to adjust pricing strategies to navigate the impact of Vietnam’s policies and attract Vietnamese consumers.

Source: equalocean.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.

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