Vietnam Gazettes Law Amending VAT Law

The Vietnamese Official Gazette Dec. 29, 2024, published a law amending the VAT law. The law includes measures: 1) regulating taxable and nontaxable subjects, the basis and method of tax calculations, deductions of input VAT, and tax refund thresholds for exports and investments; 2) providing a zero percent tax rate on exported goods and services including international transportation, construction, and installation activities abroad or in duty-free zones; 3) providing a 5 percent tax rate on certain goods and services, including clean water for production, bottled, canned and other beverages, products of crops, and planted forests; and 4) providing a 10 ...