- A new group of goods (mainly unprocessed agricultural, forestry, livestock, and fishery products) is now not subject to VAT declaration and payment but still allows input VAT deduction.
- The VAT-exempt revenue threshold for households and individual businesses has increased from VND 200 million to VND 500 million per year.
- The requirement that buyers can only receive tax refunds after sellers have declared and paid VAT has been removed.
- Regulations on lump-sum tax for households and individual businesses have been eliminated.
Source: global.ecovis.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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