Vietnam: Draft legislation on VAT

Scheduled to be proposed to the National Assembly in May 2024

Scheduled to be proposed to the National Assembly in May 2024

The Ministry of Finance has released the draft value added tax (VAT) amendment law and seeks public views and comments.

Notable changes concern:

  • Goods and services not subject to VAT
  • VAT rates
  • Input VAT credit
  • Cases eligible for VAT refund

The draft VAT amendment law is scheduled to be proposed to the National Assembly in May 2024 and scheduled to be approved in October 2024.

Read a January 2024 report [PDF 203 KB] prepared by the KPMG member firm in Vietnam

 

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.