On November 26, 2024, Vietnam’s National Assembly passed a new Value Added Tax (VAT) Law, Law 48/2024/QH15, which will come into effect on July 1, 2025. The new VAT Law will replace the existing VAT Law No. 13/2008/QH12 and its amendments.
The new VAT Law introduces significant changes and simplifies the regulatory framework by consolidating the provisions from previous decrees and amendments.
What are the main changes?
- Widened taxpayer definition:The new VAT law includes ob…