On 29 December 2023, the National Assembly Standing Committee ratified Resolution No. 41/2023/UBTVQH15 on adjustment of program on development of laws and ordinances in 2024. Included is the draft Value Added Tax (“VAT”) amendment law which will be proposed to the National Assembly for comments at the 7th working session (which is scheduled to take place in May 2024) and approved at the 8th working session (which is scheduled to take place in October 2024). The Ministry of Finance has released a draft amendment for public comment, aiming to streamline regulations and improve tax administration. In this article we will talk about of some key proposals.

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