blue-check It is expected to amend regulations of the Law on VAT, the Law on Excise Tax

Resolution No. 115/NQ-CP dated July 28th, 2023 of the Government on session to elaborate laws in July 2023
Posted: 31/7/2023 12:53:08 PM | Latest updated: 29/8/2023 3:40:27 PM (GMT+7) | LuatVietnam: 5754 | Vietlaw: 626

This Resolution is to announce results of discussion of the Government at its Session in July 2023 with regard to draft Laws, draft Resolutions, including: The Law on Property Auction (amended); the Law on Social Insurance (amended); the Law on Law on Human Trafficking Prevention and Combat (amended); the Law on Excise Tax (amended); the Law on Value Added Tax (VAT) (amended); the Resolution on pilot implementation of policies to remove obstacles for investment in construction of road traffic works; Proposals to apply the global minimum tax; Proposals relating to mechanisms and policies to support non-tax investors.

Notably, with regard to the Law on VAT (amended), the Government basically agreed on amendments to groups of policies, including: Reduction in scope of entities not subject to VAT; completion of regulations on VATable price, VAT deduction (such as deductible land price, norms for non-cash payment receipts, etc.) in conformity with reality; completion of policies on VAT rate in the manner of keeping the tax rate according to applicable regulations, continuing to study to narrow groups of goods and services subject to the 5% tax rate; inherit applicable regulations on tax rate for exported services and specifying cases of exported serviced eligible to apply 0% tax rate on the basis of research, selective reference to international experience.

With regard to the Law on Excise tax (amended), the Government basically agreed on amendments to groups of policies, including: taxable entities; non-taxable entities; basis for tax calculation; taxable prices; excise tax rates; excise tax refund. In which, the Law on Excise tax shall be completed in the manner of increasing tax rates with regard to unhealthy products (such alcohol, beer, etc.).

Ms Phuong Thao (
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Published Vietlaw's Newsletter No. 626

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