[July 2025] Newsletter Tax & Legal Update

Tax Newsletter Updates
July 2025

Access the detailed publication here→

We are delighted to present the July 2025 Tax Newsletter, compiled by JPA Vietnam, delivering technical insights and timely intelligence. This publication provides a comprehensive analysis of material amendments to tax law, effective from 01 July 2025. These are critical matters that enterprises should proactively comprehend and operationalize to ensure legal compliance in an effective and sustainable manner.

Key contents of the Newsletter

1.  Law on Value-Added Tax No. 48/2024/QH15 and guiding instruments

Adjustment of non-taxable objects, revision of conditions for VAT credit and refund, and update on non-cash payment methods.

2.  Extension of 2% VAT rate reduction through 2026 – Resolution No. 204/2025/QH15

Application of the reduced 8% VAT rate for selected groups of goods and services.

3.  Mandatory digital identity (VNeID) for enterprises – Decree No. 69/2024/ND-CP

All enterprises are required to have a VNeID digital identity account from July 1, 2025.

4.  Issuance of digital identity for foreign nationals – Notification No. 220/TB-V01

Implementation begins on July 1, 2025, with clearly defined procedures.

5.  E-commerce platforms to withhold and remit taxes on behalf of individual sellers – Decree No. 117/2025/ND-CP

Mandatory withholding of VAT and personal income tax (PIT) at source for platforms with integrated payment functions.

6.  Law on Social Insurance No. 41/2024/QH15

Expansion of mandatory participants, changes in contribution base, and stricter penalties for evasion.

7.  Law on Corporate Income Tax No. 67/2025/QH15

Introduction of new preferential tax rates for micro, small, and medium-sized enterprises (MSMEs), and implementation of the 15% Global Minimum Tax.