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Effective July 1, 2024, Vietnam’s new Value-Added Tax (VAT) Law introduces significant changes to the country’s tax framework, reflecting the evolving dynamics of the digital economy. Under this law, foreign suppliers without permanent establishments in Vietnam will now be liable for VAT on goods and services sold to the country via e-commerce channels or other…
23
Dec
Dec
The National Assembly of Vietnam recently approved an extension of the 2% reduction in value-added tax (VAT) to the end of June 2025. This measure, aimed at supporting economic recovery and development, ensures that goods and services subject to the standard 10% VAT rate will continue to enjoy a reduced rate of 2% during the…
26
Nov
Nov
In October 2024, the Vietnamese Government submitted a draft amended law on Value-Added Tax (VAT) to the National Assembly for appraisal. The proposed amendments introduce significant changes, particularly in the taxation of foreign suppliers conducting e-commerce or digital platform-based business in Vietnam. These updates aim to enhance tax compliance and address the evolving digital economy….
17
Aug
Aug
On July 23, 2024, the Vietnam General Department of Taxation took a significant step toward strengthening the management of tax obligations in the rapidly growing e-commerce sector. This move is marked by the issuance of Official Dispatch No. 3153/TCT-DNNCN, which outlines comprehensive measures aimed at ensuring effective tax administration for e-commerce activities, enhancing state budget…
20
Jul
Jul
In a move to provide financial relief amid ongoing economic challenges, the Vietnamese government has issued Decree No. 64/2024/ND-CP, granting extensions for various tax payments and land rent due in 2024. This decision aims to support businesses and individuals by improving cash flow management and easing financial burdens. Personal Income Tax and VAT for Small…
02
Jul
Jul
Vietnam’s tax system plays a crucial role in maintaining state budget revenue, supporting socio-economic development, and ensuring social equity. Mastering the principles of tax declaration and calculation is essential for both businesses and individuals to comply with legal regulations, avoid legal risks, and optimize financial obligations. In this article, we will explore the basic principles…
03
Jul
Jul
Late tax payment is a significant issue in tax administration in Vietnam, directly affecting the state budget and potentially leading to serious legal consequences for taxpayers. To maintain the integrity and efficiency of the tax system, Vietnamese law clearly stipulates measures for handling late tax payments. This article will explore the current regulations regarding the…
04
Jul
Jul
Registering for tax for the first time is a critical step marking the beginning of fulfilling financial obligations to the state. This process requires accuracy and knowledge of legal regulations to avoid unnecessary mistakes. For new individuals and businesses, understanding key considerations when registering for tax for the first time will help them follow the…
05
Jul
Jul
In Vietnam’s tax law system, taxpayers not only play the role of fulfilling their financial obligations to the state but are also protected and enjoy certain rights. Understanding your rights and responsibilities is key to properly and fully complying with legal regulations, thus avoiding unnecessary risks and sanctions. This article will detail the rights taxpayers…
06
Jul
Jul
(Published on Vietnam Investment Review) Gaining revenues from livestream sessions is increasingly popular on e-commerce platforms. However, it also raises issues regarding declaration and taxation. ASL Law senior partner Nguyen Thi Thuy Chung talked to VIR about taxing livestream sessions and protecting intellectual property rights on e-commerce platforms. What are the current obstacles to tax…
