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Vietnam enacts major economic reforms from January 1, 2025



Starting January 1, several key economic policies will take effect in Vietnam, including new transport regulations, tax adjustments, and e-commerce tax management measures. Passenger transport businesses must comply with stricter rules under Decree No.158/2024, including pre-negotiated contracts, operating licences, and a ban on ticket sales outside contracts. The National Assembly approved a six-month 2% VAT reduction, lowering the rate from 10% to 8%, excluding sectors like banking, real estate, and IT. Amendments to the 2019 Tax Administration Law require foreign e-commerce suppliers to register and pay taxes in Vietnam. E-invoices will be mandatory for public asset sales, while a new Large Taxpayer Department will manage 303 major enterprises. Additionally, VAT exemptions for imported goods under VND1m will end on January 14 to enhance trade control and tax revenue.


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