- The government proposes VAT exemptions and refunds for the agriculture sector to address challenges and support recovery after natural disasters.
- Amendments aim to resolve issues with VAT refunds, reduce financial pressure on businesses, and eliminate discriminatory treatment between domestic and imported agricultural products.
- The proposal includes making unprocessed farm, forest, and aquatic goods VAT-free, and allowing full deduction of input VAT on goods and services not subject to output VAT.
- These changes are expected to reduce administrative burdens without negatively impacting state budget revenue.
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.
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