- The National Assembly debated amendments to the VAT Law, focusing on streamlining tax refund procedures and refining policies for agricultural products and by-products.
- Deputies highlighted persistent delays in VAT refunds, urging for risk-based automatic refund mechanisms, clearer legal frameworks, and sanctions for unjustified delays.
- Proposals included using big data and AI with strict regulations, and clearly defining goods and export criteria to prevent fraud.
- Amendments aim to help exporters save significant costs and enhance competitiveness, especially for agricultural businesses.
- Removing VAT on certain by-products is expected to lower input costs, reduce prices, improve efficiency, and support environmental and circular economy goals.
Source: en.nhandan.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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