PROPOSAL TO REMOVE 5% VAT ON RICE – UNTYING THE KNOT FOR EXPORT BUSINESSES
According to VnExpress, at the end of July, the Vietnam Food Association (VFA) submitted a proposal to the Prime Minister to exempt rice products from the 5% Value-Added Tax (VAT), aiming to facilitate the growth of this strategic sector and enhance its competitiveness. 🌾 Under the new Value-Added Tax Law, the rice industry will be subject to a 5% VAT starting from July 1, 2025. The VFA argues that this will place significant financial and administrative pressure on enterprises. Furthermore, Vietnam risks losing its competitive advantage against international rivals—many of [...]
