- Vietnam adopted major reforms to VAT, personal income tax, and tax administration laws, effective from 2026.
- The VAT threshold for households and individuals increased from VND 100 million to VND 500 million, reducing the number of small businesses required to pay VAT.
- The presumptive tax method for households and individuals is abolished, and VAT refund conditions are relaxed.
- The definition of “taxable persons” is expanded to include foreign entities and those operating via digital platforms, with e-commerce platforms required to withhold and remit taxes.
- Businesses and individuals, especially in e-commerce and digital sectors, must update their tax compliance processes to align with the new regulations.
Source: vatabout.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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