VAT Archives - VNLawFind

Notable contents of Law on Value Added Tax 2024

18/02/2025

On November 26, 2024, the National Assembly enacted the Law on Value Added Tax 2024 (the Law on VAT 2024), replacing the Law on Value Added Tax 2008 and its amendments and supplements. The Law on VAT 2024 is developed and promulgated with the aim of refining VAT policies to enhance and broaden revenue sources, stabilize state budget revenues, address the recent issues in implementing the previous Law on VAT, as well as reform administrative procedures to facilitate and protect the rights of taxpayers. The Law will take effect from July 1, 2025.

Some highlights of the Decree on tax payment deadline extension

13/08/2024

On June 17, 2024, the Government issued Decree 64/2024/ND-CP regulating the extension of the deadline for paying value-added tax, corporate income tax, personal income tax, and land rent in 2024. Decree 64 includes some typical contents for several individuals and businesses engaged in production and business activities in Viet Nam.

Some new points of the Draft Law on Value-Added Tax (amended)

17/07/2024

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.

Continual application of value-added tax reduction policy

04/03/2024

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.

Some new regulations on value-added tax

21/06/2023

On February 28, 2023, Circular 13/2023/TT-BTC was promulgated to guide Decree 49/2022/ND-CP amending Decree 209/2013/ND-CP guiding the Law on Value Added Tax which is amended under Decree 12/2015/ND-CP, Decree 100/2016/ND-CP and Decree 146/2017/ND-CP and to amend Circular 80/2021/TT-BTC.. Circular 13 shall take effect from April 14, 2023.

Extension of payment deadline of value-added tax, corporate income tax, personal income tax, and land rent for 2023

17/05/2023

On April 14, 2023, the Government promulgated Decree 12/2023/ND-CP on extending the deadline for payment of value added tax, corporate income tax, personal income tax, and land rent for 2023 to support people, enterprises, promote production and business. Decree 12 takes effect from April 14, 2023 until the end of December 31, 2023.