Vietnam: Recent direct and indirect tax developments
An overview of recent tax-related developments
An overview of recent tax-related developments
The KPMG member firm in Vietnam prepared a June 2024 report providing an overview of recent tax-related developments, including:
- Value added tax (VAT)
- Repeal of Circular No. 83/2014/TT-BTC on import VAT corresponding to Vietnam’s nomenclature of imports
- Continuous enforcement measures towards VAT refund management and handling in 2024
- Individual (personal) income tax
- Individual income tax obligations in connection with the transfer of capital contributed to real estate
- Invoices, supporting documents and tax administration
- Enforcement of tax management toward purchase transactions using Form 01/TNDN
- Invoices and supporting documents required for compensation made by an insurance company to an insured party
- Guidance on exit ban to legal representatives of businesses recorded with tax debt
- Vietnam ratified the Protocol amending the Vietnam-Luxembourg income tax treaty
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