The new VAT law introduces 0% VAT for certain NTZ/EPE services, expanded non-cash payments, updated VAT credit/refund rules, and new seller declaration requirements, replacing parts of prior VAT guidance.
Vietnam issued Decree 181/2025/ND-CP and Circular 69/2025/TT-BTC on 1 July 2025, to implement the new Law on Value Added Tax No. 48/2025/QH15.
The updated regulations introduce:
- 0% VAT eligibility for certain services provided to non-tariff zones (NTZs) and Export Processing Enterprises (EPEs), including transport, handling, and related services directly serving export production.
- Expanded non-cash payment methods, including payment via shares, bonds, or authorised employee transactions, for purchases from VND 5 million and above.
- New VAT credit and refund rules, covering exports via e-commerce, goods in bonded warehouses abroad, and digital content sales. Businesses supplying multiple VAT-rate goods can claim refunds based on input VAT or revenue ratio.
- Additional refund condition requiring sellers to declare and pay VAT on issued invoices.
- Effective from 1 July 2025, with transitional provisions for pre-existing projects and VAT refunds from the same date. Circular 69 replaces and repeals parts of prior VAT guidance, including Circular 103/2014/TT-BTC.
