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Update news vietnam's tax policy
The GDT reported that, to date, 120 foreign suppliers have registered, declared, and paid taxes via a portal dedicated to them, with a total amount of nearly 8.7 trillion VND (342.7 million USD) in 2024.
Vietnam’s tax authorities have fined 30,000 online sellers a total of $50.7 million after auditing their e-commerce activities for tax compliance.
From February 18, 2025, Vietnam will end import duty and VAT exemptions for goods valued under 1 million VND ($40) sent via express delivery, under a new government directive.
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) dipped below the 50.0 no-change mark for the first time in three months during December 2024, to be at 49.8 from 50.8 in November.
Vietnam’s tax authorities warn online sellers against evasion schemes like the “cicada shedding its skin,” emphasizing the risks of fines and revenue loss.
The Vietnamese government has issued a decree extending the VAT reduction for eligible goods and services to 8%, effective from January 1, 2025, through June 30, 2025.
The Ministry of Finance has proposed the National Assembly extend the agricultural land tax exemption until December 31, 2030, a move aimed at encouraging investments in agriculture and rural areas.
The National Assembly (NA) Standing Committee has issued a resolution on Vietnam’s environmental protection tax rates for petrol, oil, and lubricants in 2025, keeping in effect a tax cut introduced to support the economy post pandemic.
A total of 120 foreign suppliers have registered, declared, and paid taxes worth more than 8.68 trillion VND (341 million USD) through the General Department of Taxation (GDT)’s e-portal this year.
Amid a booming e-commerce market, tax authorities in Ho Chi Minh City have reviewed 35 livestream sellers, including celebrities, collecting significant sums, with one beauty queen paying $192,000 in taxes.
With new tax rules taking effect in 2025, individuals and businesses with significant overdue debts may face restricted mobility until they fulfill their obligations.
Exit bans for overdue tax debts in Vietnam may soon apply only to cases exceeding VND50 million ($2,000), following adjustments by the Ministry of Finance.
Investors in the film industry are not pleased about the decision to raise the VAT rate on culture and art products from 5 percent to 10 percent, saying that the tax rate will hinder the development of the industry.
Businesses at a tax and customs dialogue detailed persistent issues costing them billions, with authorities responding with commitments to improve.
The rapid growth of e-commerce has contributed significantly to Vietnam's economic development, but it also brought challenges, particularly in tax management.
The Ministry of Finance is evaluating tax policies for unused and multiple properties, aiming to curb speculation and promote efficient real estate use.
E-commerce and digital platforms with payment functions will have to declare and pay taxes on behalf of sellers being business households and individuals from April 1, 2025.
The Ministry of Finance (MOF) has proposed exempting tax on income gained from transfer of emission reduction certificates, carbon credits, and interest from green bonds.
The replacement law is set to be approved by the National Assembly at its 11th session in May 2026.
Vietnam's personal income tax exemption threshold of 11 million VND ($458.3) is under review. How does it stack up against regional counterparts like China, Thailand, and Malaysia?