- The Ministry of Finance has proposed amendments to the Law on Value Added Tax (VAT) to address tax refund bottlenecks and unblock capital for businesses.
- Current VAT regulations are causing financial pressure and capital stagnation, especially for agricultural exporters, due to advance VAT payments and delayed refunds.
- The regulations create unfair competition between domestic and imported agricultural products, as imports are not subject to VAT.
- Animal feed producers face higher costs because input VAT cannot be deducted or refunded, reducing competitiveness.
- The Ministry proposes urgent amendments to three key issues in the VAT law to support businesses, especially in agriculture and livestock.
Source: vietbao.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.
Latest Posts in "Vietnam"
- VAT Threshold for Household and Individual Businesses Raised to 500 Million VND from 2026
- VAT Refunds No Longer Dependent on Seller’s VAT Declaration and Payment for Input Invoices
- Strengthening Electronic Invoice Management in Vietnam: Enforcement, Technology, and Compliance to Prevent Fraud
- Vietnam Amends VAT Law: Higher Exemption Thresholds, Refund Reforms, and Major Benefits for Agriculture
- New Regulations on VAT-Exempt Entities under Decree 359/2025/NĐ-CP
