- The government is proposing amendments to the VAT Law to resolve tax refund issues and ease capital pressure on agriculture and exports.
- Current VAT regulations cause cash flow bottlenecks for agricultural exporters, forcing them to advance large tax amounts and wait for refunds, tying up significant working capital.
- Domestic agricultural products face VAT at the commercial stage, while many imports do not, creating unfair competition.
- Feed producers cannot deduct input VAT, increasing production costs and putting them at a disadvantage compared to imports.
- The proposed law aims to address these issues, ensuring smoother cash flow and fairer competition for domestic producers.
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.
Latest Posts in "Vietnam"
- Finance Ministry Proposes VAT Law Amendments to Unblock Billions, Support Businesses and Agriculture
- Are Agricultural Products Bought Directly from Farmers Subject to VAT?
- Vietnam Cuts VAT to 8%: Boosting Growth, Competitiveness, and Household Welfare
- VAT Application on Agricultural Products Used as Animal Feed: Exemption or Applicable Tax Rates?
- VAT Deductibility for Gifts and Scrap Sales in Vietnam: Rules for Mixed and Tax-Exempt Activities













