Vietnam extends zero VAT rating and other compliance changes

12 January 2012

The Vietnamese tax authorities have VAT exempted a number of  activities from March 2012.  They are as follows:

-  Export of goods or services outside of Vietnam

Financial services including foreign currency trading, reinsurance and factoring

Separately, the tax authorities have put aside the deadline on corrections of VAT returns in the case of VAT filings on imports.

It also withdraws the right to deduct VAT for the sale of plant and equipment on the winding-up of a business.

 

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