Vietnam New VAT Law 2024

Vietnam’s National Assembly passed a new VAT law (Value Added Tax (VAT) Law No. 48/2024/QH15) on 26 November 2024 that will replace the current VAT law dating back to 2008.

The new law, which takes effect on 1 July 2025, includes an expanded definition of “taxpayer,” changes rates and the not-subject-to-VAT category, and will introduce various adjustments to the determination of VAT liability, input tax credits, refunds, etc. The measures, in particular, will impact foreign businesses engaged in the e-commerce and digital sectors.

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