Vietnam Gazettes Decree Amending Provisions on VAT Calculation, Refunds

The Vietnamese Official Gazette Aug. 7 published Decree No. 49/2022, amending various VAT provisions. The decree includes measures: 1) clarifying the VAT calculation for property transfers; 2) clarifying the VAT calculation price for electricity production activities; 3) requiring specific businesses to pay VAT according to the flat tax method; 4) requiring businesses to declare VAT separately for investment projects and offset input VAT amounts with the payable VAT amount for production and business activities; 5) providing a VAT refund for investment projects if the accumulated input VAT amount of the investment project is 300 million Vietnamese dongs (US$12,786) or more; ...