On May 15, 2024, the Government issued Decree 52/2024/ND-CP regulating non-cash payment (Decree 52), replacing Decree 101/2012/ND-CP, which was amended and supplemented by Decree 80/2016/ND-CP and Article 3, Decree 16/2019/ND-CP. Decree 52 takes effect from July 1, 2024.

Currently, the Ministry of Finance is drafting the Law on VAT (Amended) (the Draft) to refine the regulations on VAT policy, codify issues that have been empirically validated, and ensure the consistency of the legal system, aiming at international economic integration. The Draft substantially inherits the Law on VAT 2008 but amends and supplements some important new points that could affect business activities.

On December 28, 2023, the Government issued Decree 94/2023/ND-CP on value-added tax (VAT) reduction policy under Resolution 110/2023/QH15 dated November 29, 2023 of the National Assembly (Decree 94). Decree 94 takes effect from January 1, 2024 to the end of June 30, 2024.

On November 29, 2023, the National Assembly approved Resolution 107/2023/QH15 on applying top-up corporate income tax under Global anti-base erosion rules. The Resolution takes effect from January 1, 2024.

In order to tackle the drawbacks of Decree 123 as well as further facilitate taxpayers, authorities, and organizations on activities related to invoices, records, the Ministry of Finance is currently developing a draft to amend, supplement several provisions of this Decree (Draft).

On September 6, 2023, the Government promulgated Decree 67/2023/ND-CP on compulsory civil liability insurance of motor vehicle owners, compulsory fire and explosion insurance, compulsory insurance in construction investment activities.