VAT

Abolishing regulations on tax exemption for small-value imported goods must comply with international practices

13:54 | 15/11/2024 Regulations

VCN - The Ministry of Finance said that the abolition of regulations on tax exemption for imported goods valued at less than VND1 million must comply with international practices in the context of the growing trend of cross-border e-commerce activities.

Ensure harmony of interests of “3 parties” when applying 5% VAT on fertilizers

08:54 | 30/10/2024 Regulations

VCN - The representative of the Vietnam Fertilizer Association cites data from the Ministry of Finance, as saying that about VND10,000 billion of VAT has not been deducted from business expenses from 2015 to present.

VAT policy for on-the-spot imports

13:44 | 23/10/2024 Regulations

VCN - Article 3 of the 2008 Law on VAT stipulates “Goods and services used for production, trading or consumption in Vietnam are subject to Value-added tax, except those specified in Article 5 of this Law”.

VAT reduction is necessary but not tool used every recession: Canadian expert

09:39 | 27/09/2024 Finance

VCN - The main topic of the dialogue session focused on fiscal policy, including two main contents: sharing on fiscal policy management and state revenue forecasting models; sharing experiences on the fiscal risk management framework.

Proposal on VAT reduction in electricity bills unreasonable

09:33 | 23/08/2024 Finance

VCN - At the question and answer session at the 36th Session of the National Assembly Standing Committee on August 21, 2024, the Minister of Finance and Minister of Industry and Trade clarified a number of important contents that the deputies concern rela

Businesses fined for misdeclaration

14:08 | 31/07/2024 Anti-Smuggling

VCN - From the beginning of 2024, Ho Chi Minh City Customs Department has sanctioned administrative violations for many cases of tax fraud in customs declarations for imported goods.

HCM City Customs refunds over VND 49 billion of VAT for foreign passengers

15:44 | 15/07/2024 Customs

VCN - In the first six months of the year, the department refunded VND49 billion of VAT to goods brought by 10,443 foreigners when exiting the country.

Minister of Finance: continue to advise on promulgating fiscal policies to help economy recover and develop

15:15 | 08/07/2024 Finance

VCN - According to Minister of Finance Ho Duc Phoc, although implementing policies to reduce and extend taxes and fees will impact budget revenue, the Ministry has reviewed, evaluated and continued to promulgate a number of fiscal policies to support peop

Customs implements VAT reduction policy from July 1st

15:58 | 01/07/2024 Regulations

To implement the contents relating to customs field, General Department of Vietnam Customs requested local customs departments to reduce VAT for group of commodities as stipulated at Decree 72/2024/NĐ-CP.

Continuing to evaluate impacts and controversial issues to complete VAT Bill

13:38 | 28/06/2024 Customs

VCN - On the afternoon of June 24, continuing the Program of the 7th Session of the 15th National Assembly, the National Assembly discussed the project of the Law on Value Added Tax (revised). At the discussion session, Minister of Finance Ho Duc Phoc exp