From July 1, 2025 to December 31, 2026, the VAT rate will be reduced to 8% from 10% for goods and services specified in Clause 3, Article 9 of the Law on VAT No. 48/2024/QH15.

Legislators will review a verification report and discuss a draft resolution of the National Assembly (NA) on reducing value-added tax (VAT); the draft amended Law on Corporate Income Tax; and the draft law on amending and supplementing a number of articles of the Law on Standards and Technical Regulations, at the ongoing 8th session on November 28 in Hanoi.

The Law on the Value Added Tax was adopted at the 8th session of the 15th National Assembly (NA) in Hanoi on November 26 and is set to come into force in July next year.

National Assembly deputies have been debating whether a 5% VAT tax on fertilisers should be reintroduced.

Technology giant Google in Indonesia has announced that it is ready to charge 10 percent of value added tax (VAT) on customers if required by the host country’s government.

Tax Law No 71/2014/QH13, which treats fertiliser as a VAT-free item, has become a double-edged sword as after five years of implementation it has not reduced domestic fertiliser prices but instead hindered production and investment in the sector.

The Vietnam Airlines Corporation earned nearly 1.46 trillion VND (64.3 million USD) in pre-tax profit in the first three months of the year, 6.2 percent higher its set plan.

The tax on imported sugar, as stipulated by the ASEAN Trade in Goods Agreement (ATIGA), will be maintained at 5 percent from the beginning of this year, instead of zero percent as previously rumoured.

Following the implementation of a provisional tax on imported fertilisers, more things need to be done to help balance benefits of both local producers’ and farmers’ benefits, industry insiders have agreed.