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.

On June 28, 2023, Circular 06/2023/TT-NHNN (Circular 06) was issued to amend and supplement several provisions of Circular 39/2016/TT-NHNN (Circular 39) which stipulates lending activities of credit institutions and foreign bank branches. After that, on August 23, 2023, the State Bank issued Circular 10/2023/TT-NHNN (Circular 10) suspending the implementation of some provisions in Circular 39. Circular 06 and Circular 10 both take effect from September 1, 2023.

On June 30, 2023, the State Bank of Viet Nam issued Circular 08/2023/TT-NHNN on conditions for foreign loans not guaranteed by the Government. Taking effect from August 15, 2023 (except for the regulations on short-term foreign loan rooms that will take effect from January 1, 2024), Circular 08/2023/TT-NHNN will replace Circular 12/2014/TT-NHNN guiding foreign exchange management for enterprise’s foreign loan borrowing and repayment.