From July 1, a reduced VAT rate of 8% will apply to most goods and services, helping to save costs and increase consumption.

National assembly deputies are concerned that failing to tax small-value imported goods sold through platforms like Shopee, Lazada, Tiki, and TikTok could lead to substantial revenue losses for the state budget.

On the afternoon of June 17, Minister of Finance Ho Duc Phoc submitted the draft Law on Value Added Tax (amended) to the National Assembly.

The issue of a businessman being temporarily banned from leaving the country due to his company’s tax debts of less than VND1 million has sparked significant debate. While some argue the regulation is necessary, others believe it is overly rigid.

Vietnamese authorities are ramping up tax supervision on individuals who earn income from livestreaming sales on e-commerce and social media platforms to ensure they comply with tax regulations.

The Ministry of Finance (MoF) has proposed imposing a special consumption tax on sugary beverages.

If services in non-tariff zones are taxed a 10 percent VAT, production costs will increase, affecting the competitiveness of Vietnam’s exports.

Businesses have been facing many difficulties in claiming goods eligible for the government’s two per cent tax cut, said Đậu Anh Tuấn, deputy secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI) and head of its legal department.

Vietnamese tax authorities are urging individuals earning incomes from e-commerce and social media platforms, especially through livestreaming, to fulfil their tax obligations.

The Ministry of Justice held a meeting to appraise the draft resolution of the National Assembly on VAT reduction, which was chaired by Deputy Minister Tran Tien Dung.

Deputy Minister of Finance Nguyen Duc Chi said that sellers who make livestreams on online marketplace must pay tax.

Vietnamese authorities will crack down on tax evasion by implementing strict measures to ensure individuals and businesses fulfill their tax payment obligations.

Some legislators on May 25 proposed the 2% reduction in value-added tax (VAT) under a resolution of the National Assembly (NA) be extended to continue supporting the country's socio-economic recovery and development.

The vast majority of those are being imported through e-commerce platforms, including some of the largest in the country such as Shopee, Lazada and TikTok, with combined value reaching billions of dollars monthly.

The amended VAT Law is set to be submitted for approval next month with new content, yet the common tax rate is still proposed at 10 per cent to help businesses through current turbulent times.

Vietnam is set to revise its existing Law on Value-Added Tax with a reclassification of products in areas like agriculture and fisheries, with the hopes of making them more favourable in performance.

Taxation policies are hailed as effective measures in curbing the consumption and harmful effects of sugary drinks.

Some experts have pointed out that the current taxation scheme is hindering the repatriation of antique items, and that a tax exemption will help solve the problem.

The General Department of Taxation has implemented a combination of solutions to prevent tax revenue loss in e-commerce sector.

The Government has decided not to apply the mixed tax regime on beer and alcohol products.