National Assembly Supports 0% VAT on Digital Exports to Maintain Competitiveness and Growth

• National Assembly’s Standing Committee suggests maintaining 0% VAT on exported digital products
• Proposed amendments to VAT Law address tax thresholds for businesses
• Provision in law exempts households and individual businesses with annual revenue of 200 million VND or less from VAT
• Suggestions made to apply 0% tax rate on non-entertainment digital content exports
• Concerns raised about verification of foreign consumption for digital exports
• Committee emphasizes importance of maintaining competitive edge in global digital market
• Proposal to keep current 0% VAT rate for exported digital content in draft law
• Some lawmakers agree to apply 5% VAT on fertilizers, while others express concerns about increased costs for farmers and agricultural sector
• Standing Committee proposes keeping current policy on fertilizers as outlined in draft law from 7th session of National Assembly

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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