Vietnam issues new VAT guidance
- 30 April 2013 | Richard Asquith
The Vietnamese VAT office has recently published compliance guidance for a number of areas. These include:
- Where businesses categorised as Export Processing Enterprise use the VAT deduction method on their exports, they must ensure that the domestic supply properly the customs declaration. This enables the application of the reduced VAT rate.
- Transport businesses should use either VAT or export invoices with domestic customers
- Banks may levy zero VAT on the credit and card processing services
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.