Amending VAT Law to Ease Tax Refunds, Reduce Capital Pressure for Agriculture and Exports

• The government is proposing amendments to the VAT Law to resolve tax refund issues and ease capital pressure on agriculture and exports.
• Current VAT regulations cause cash flow bottlenecks for agricultural exporters, forcing them to advance large tax amounts and wait for refunds, tying up significant working capital.
• Domestic agricultural products face VAT at the commercial stage, while many imports do not, creating unfair competition.
• Feed producers cannot deduct input VAT, increasing production costs and putting them at a disadvantage compared to imports.
• The proposed law aims to address these issues, ensuring smoother cash flow and fairer competition for domestic producers.

Source: baochinhphu.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.

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