- Securities firms are increasing fees due to new VAT rules.
- From July 1, brokerage services previously exempt from VAT are now subject to a 10% rate.
- VAT Law 48/2024/QH15 requires securities services to be taxable.
- Companies like SHS, VDSC, VCBS, and VNDirect have adjusted fees for various services.
- SHS raised custody fees for stocks and bonds.
- Withdrawal fees on custody have increased.
- VCBS and VDSC will add a 10% VAT on several services.
- Authorities aim to address tax collection inequities.
- Personal income from capital investment was under-taxed from 2016-2024.
- International comparisons show similar tax rates in countries like Thailand and India.
- Market reaction is mixed, with some investors frustrated by higher costs.
- Regulatory authorities believe the updates will improve tax fairness and discipline.
Source: vietnamnet.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.
