VAT Rate Applicable to Sales Revenue in Vietnam Question: For sales to local customers in Vietnam, what is the VAT rate? Answer: According to the current regulations of Vietnamese law, value-added tax (VAT) for wholesale trade services of machinery, equipment, and electronic components (based on the company's business lines) is applied at a tax rate […]

On November 26, 2024, during the 8th session of the 15th National Assembly, Vietnam officially passed the 2024 Value-Added Tax (VAT) Law (Law No. 48/2024/QH15), which will take effect on July 1, 2025. This law introduces significant reforms to refine tax policies and resolve existing implementation challenges. Below are some of the most notable changes: […]

Commerces New Mechanism for managing oil and gasoline business Draft Circular on trade defense measures Draft Circular on rules of origin of goods in the free trade agreement (Draft 2) Finance - Bank Issuing a Decision that regulates the functions, tasksm powers, and organizational structure of the Department of Planning, Finance, and Enterprise Management Immigration […]

Question: The client is a foreign-invested trading company with a total investment capital of less than 3 billion VND and 2 employees. The question is whether the company is required to hire a Chief Accountant. If required, what are the procedures, requirements, and conditions for hiring one? Answer: Obligation to Appoint a Chief Accountant Based […]

On September 11, 2024, the General Department of Taxation issued Official Dispatch No. 4019/TCT-CS regarding opinions on VAT. Accordingly, VAT policies have clearly specified the conditions for VAT deduction. In cases where the VAT payment document at the import stage lists the importer as the Company, and the Company declares VAT using the direct method, […]