On 26 November 2024, the National Assembly of Vietnam passed the Law on Value Added Tax No. 48/2024/QH15 (the “new VAT Law”). This legislation will take effect on 1 July 2025, replacing the existing VAT Law No. 13/2008/QH12 and its amendments.
Key changes introduced by the new VAT Law, compared to the existing VAT regulations, include:
- Expanded Taxpayer Definition
- Input VAT Credit
- Taxable Prices
- VAT Exemptions
- VAT Exemption Threshold
- VAT Rates
- VAT Refunds
To read the full Vietnam Tax Alert, please click on the below download button:
If you have any questions, feel free to reach out to the following contacts:
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
Jack Sheehan
Partner, Head of Regional Tax
Thailand
Jack is a Partner and Tax Leader at the firm.
Lan Hua
Tax Director
Vietnam
Lan has longstanding professional experience in Vietnam, providing practical tax and business advice to a wide variety of international and local clients.
