- The National Assembly passed amendments to the Value Added Tax (VAT) Law, effective from January 1, 2026.
- The law restores previous VAT regulations for agricultural cooperatives, allowing input VAT deduction without output VAT calculation for certain unprocessed products.
- It removes the condition that buyers can only receive VAT refunds if sellers have declared and paid VAT, aiming to speed up the refund process.
- The law exempts households and individuals with annual revenue of 500 million VND or less from VAT, aligning with the amended Personal Income Tax Law.
- Technical adjustments were made to clarify policies on agricultural by-products, animal feed, and to promote circular economy and environmental protection.
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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