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Vietnam Implements Major Tax Reforms from July 1 to Promote Fairness

  • Vietnam mandates non-cash payments for all VAT input deductions, doubling the taxable income threshold for micro businesses to ease their tax burden starting 2026.

  • The updated laws revise taxable prices, tax rates, and non-taxable goods to better reflect economic value and promote responsible consumption.

  • New VAT exemptions cover disaster relief imports and specific sectors; VAT on imports is now calculated including customs value, import duties, and other applicable taxes.

Source: vietnamnews.vn

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