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.