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VAT exemption will not be applicable game bet88 low-value imports sent via express delivery services
Subjecting goods valued at less than .4 game bet88 a 10% VAT rate could increase State budget revenue by over 6 million.
Imported goods of low value sent via express delivery services will no longer be subject game bet88 value-added tax (VAT) exemption, starting from February 18.
The Vietnam Customs has announced the implementation of VAT collection in line with the Prime Minister's Decision No. 01/2025/QD-TTg, as reported by the Vietnam News Agency.
This new decision officially repeals Decision No. 78/2010/QD-TTg dated November 30, 2010, under which value threshold for imported goods sent via express delivery services would be exempt from taxes.
Vietnam Customs explained that Decision No. 78 was originally intended game bet88 facilitate international trade and promote the growth of express delivery services. However, the current context of evolving tax regulations, the booming e-commerce sector, and changing international practices necessitate policy adjustments game bet88 align with these new developments.
Notably, both the current Law on Value Added Tax and the newly passed Law on Value Added Tax No. 48/2024/QH15 do not provide for VAT exemption on low-value imported goods. As a result, the repeal of Decision No. 78/2010/QD-TTg is expected game bet88 bring several benefits.
It is estimated that subjecting goods valued at less than VND1 million (.4) game bet88 a 10% VAT rate could increase State budget revenue by approximately VND2.7 trillion (over 6 million).
This regulation aims game bet88 create fair competition between domestic and imported goods, thereby promoting domestic production. Additionally, this policy aligns with the global trend of collecting VAT on low-value imported goods.
