- Vietnam’s standard VAT rate is 10%, but a temporary reduced rate of 8% applies to most goods and services until the end of 2026, except for sectors like finance, insurance, telecommunications, and real estate, which remain at 10%.
- Exported goods and services are subject to a 0% VAT rate, while essential goods and services (e.g., food, water, medicine) are taxed at 5%.
- Certain goods and services are exempt from VAT, including some agricultural products, specific imported equipment, financial services, and services provided by individuals with low annual revenue.
- Businesses must apply the correct VAT rate to avoid compliance issues, penalties, and disruptions in financial management.
Source: premiatnc.com
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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