vietnam's tax policy

Update news vietnam's tax policy

Tax Department warns of fraud risks in personal income tax refunds

Taxpayers are encouraged to submit their documents online via the official software and websites of the General Department of Taxation.

Vietnam's e-commerce boom drives 38% growth in tax collection

Vietnam’s General Department of Taxation reported a 38% growth in e-commerce tax revenue, thanks to improved monitoring and data analysis.

Taxation dept reconsiders tax-debt limit to prevent people from exiting country

The General Department of Taxation (GDT) said it would reconsider the level of tax debt that is required to prevent businesspeople from exiting the country.

Why e-commerce platforms are opposing tax filing requirements for sellers?

The Vietnam E-commerce Association has expressed strong opposition to new tax regulations, arguing that platforms lack the expertise and infrastructure to take on such responsibilities.

Ministries back proposal to tax multiple property owners

The Ministry of Construction and the Ministry of Finance have aligned on a proposal to tax multiple property owners in an effort to reduce speculative behavior and stabilize the real estate market.

VAT-refund procedures hinder investment, legal solution is needed

The problems in procedures for VAT (value added tax) refunds was the main topic at the second discussion session of the 2024 Business and Law Forum held on October 9, 2024.

CEO of major farm producer may be barred from leaving the country

Loc Troi Group (LTG) has sent a document to agencies asking to bar its former CEO Nguyen Huu Thuan from exiting the country because Thuan "committed fraud, causing loss of company assets".

Tax office reveals revenue from more than 23,000 cases of travel bans

With an average of 2,374 travel bans issued monthly for tax debts, the General Department of Taxation reveals that a small percentage of the VND 50 trillion owed has been collected.

Not all second home purchases should be taxed heavily: real estate ass'n

Taxing second and subsequent homes and tightening lending to real estate buyers should only be considered if the move causes negative effects to the market, according to Nguyen Van Dinh, deputy chair of the Vietnam Real Estate Association (VREA).

Proposal for 30% land rent reduction, typhoon-affected areas may receive more

After consulting with businesses and experts, VCCI has proposed a 30% land rent reduction for 2024, with a higher reduction for typhoon-affected provinces.

Second home tax: potential pitfalls in Vietnam's real estate market

Recent proposals by the Ministry of Construction and the Vietnam Real Estate Brokers Association to tax second homes have reignited a fervent debate, highlighting potential drawbacks that could overshadow the intended benefits.

Taxpayers call for stricter measures to accelerate VAT refunds

The HCM City Tax Department has retroactively collected VNĐ36.7 billion, indicating that VNĐ127 billion cannot be refunded or offset. As of June 2020, the unresolved VAT amount has surged to VNĐ366 billion.

Tax authorities to improve tax debt warnings with digital solutions

The General Department of Taxation is set to introduce multiple digital channels to notify tax debtors more effectively, reducing incidents where individuals discover their travel bans at the airport.

Temporary travel ban for business leaders: what’s the right approach?

The issue of temporarily banning business leaders from leaving the country due to overdue tax debts is stirring debate.

Exit-suspension scheme should be removed as it hinders business development

The temporary suspension on exiting the country because of tax debts is facing strong opposition from businesspeople and economists.

Family tax deduction rate under review

Given the evolving economic landscape and changes in living standards, The Ministry of Finance is conducting a comprehensive review and assessment of the Personal Income Tax Law, which includes the consideration of family circumstance deductions.

Taxation authority to hold dialogue with taxpayers in five localities

The General Department of Taxation will organise a direct dialogue with taxpayers from five provinces and cities to hear feedback on the practical implementation of current tax policies.

Tax debts and travel bans: businesses call for clearer processes

It is rare for business leaders to risk their reputations by delaying the payment of a few million VND in taxes.

Tax authority clarifies: business travel bans for tax debts flexibly enforced

Vietnam’s Tax Administration official clarifies that temporarily preventing business travel is not the most severe measure used in tax collection and is applied judiciously based on specific circumstances.

Millions of border-crossing orders slip through without paying tax

In H1/2024, billions of USD worth of small-scale goods crossed VN borders each month, leaving a massive gap in tax revenue. As other countries close tax loopholes on small-value imports, VN faces increasing pressure to amend outdated tax policies.