Amended Law on Special Consumption Tax promulgated
Under the amended law, the tax rate for spirits (20% alcohol or higher) will rise from 65% in 2026 to 90% by 2031.
Topic: taxation
Draft decree regulating implementation of the Law on Corporate Income Tax submitted
The draft proposes to use total annual revenue as the primary criterion for determining eligibility for preferential tax rates of 15% and 17%.
Some 37,000 businesses switched to revenue-based tax
These businesses will switch to issuing electronic invoices generated from cash registers connected to the tax authorities' database.
Jan-Feb tax collections hit $13.17bln
Figure an increase of 16.8% year-on-year.
VECOM proposes minimizing costs for e-commerce platforms
The Vietnam E-commerce Association (VECOM) has said that the operation of e-commerce platforms remains quite difficult and requires major investment and high operating costs, with most posting losses. It therefore proposed to the General Department of Taxation and State management agencies that cost and compliance burdens be minimized and conditions created for the development of e-commerce platforms.
Tax sector increasing revenue by promoting digital services
The General Department of Taxation has said that the tax sector has promoted the development of digital tax services for taxpayers and seen impressive results. The number of enterprises registering with tax authorities to use digital tax services this year as of September 15 was 861,710, or 99 per cent. Businesses paid taxes through more than 2.75 million digital transactions totaling over VND585.6 trillion ($24.36 billion) and nearly $49 million.