Vietnam’s Tax Administration Law Reform to Take Effect in July 2020

Vinh LeManager, Dezan Shira & Associates

In June, Vietnam’s National Assembly approved a new Law on Tax Administration 38/2019/QH14. Under the new law, tax authorities have been granted additional enforcement powers. At the same time, the new law has made it a little bit easier for both individuals and entities to file taxes.

The new law will take effect from July 2020. The authorities will provide circulars and decrees with details and guidance for the new law ahead of its implementation. While implementation procedures remain forthcoming, taxpayers can begin to prepare by reviewing the law with their local advisors now.

Seven big changes for taxpayers

  1. Increased enforcement

  2. Tax registration

  3. Filing personal income tax

  4. Legal representatives

  5. Audits

  6. Penalties against entities

  7. E-commerce, E-tax, and E-invoices

This is an excerpt from an article appearing in Vietnam Briefing, a subsidiary of Dezan Shira & Associates. For the latest economic, regulatory and business news from Vietnam, visit vietnam-briefing.com.

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