Vietnam VAT compliance update
- 10 July 2013 | Richard Asquith
Vietnam’s Value Added Tax regime has recently had a number of minor changes. These include:
- The six month limit on deducting VAT inputs has been removed
- VAT is now levied on loans from non-authorised financial institutions
- The problematic new VAT service rules have been withdrawn, and the former nil VAT charge has been reinstated. This includes the rule that the service use and enjoyment must be outside of Vietnam to qualify as a zero-rated export
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.