April Newsletter

ACAC – Tax Policies, Invoices, and International Trade in Q2/2025

April 2025 marks significant changes in the areas of taxation, e-invoices, and international trade relations. These adjustments not only impact corporate tax declarations and refund processes but also expand incentives for scientific research and technological development activities.

In the role of an independent consulting and auditing firm, Anh Consulting & Auditing Company Limited (ACAC) continues to provide in-depth bulletins to help businesses understand correctly – act properly – and optimize compliance efficiency in a fast-changing policy environment.

“Policy changes are inevitable, but proactive adaptation is the defining factor. ACAC is committed to accompanying businesses to transform challenges into opportunities for sustainable development.”

Nguyễn Thị Mai Anh
General Director, ACAC Vietnam

1. Value Added Tax (VAT): Centralized declaration and acceleration of electronic refunds

According to Official Letter 831/CT-NVT (24/04/2025), enterprises are allowed to declare VAT centrally at their head office when meeting the conditions for unified accounting and management of input–output VAT across branches. If a branch conducts independent sales activities, it must still declare and pay tax to its directly managing authority.

Additionally, Official Letter 563/CT-NVT (11/04/2025) reports that in 2024, the Tax Authority issued 19,806 tax refund decisions with a total value of over VND 156,941 billion, up 5% year-on-year. In the first three months of 2025, the refunded amount reached VND 31,128 billion, a 6% increase, with 86% of applications processed within 6 working days.

Tax authorities require local departments to review and classify applications and strive to eliminate all pending refund cases by the end of May 2025, except for cases with high risk indicators.

2. Corporate Income Tax (CIT): Incentives for research – development and innovation

According to Decree 88/2025/NĐ-CP guiding Resolution 193/2025/QH15, enterprises may include deductible expenses for sponsorship of scientific research, technological development, and innovation activities when determining taxable CIT income.

Eligible expenses include:

• Costs of materials, equipment depreciation, expert hiring, and technology transfer;
• Trial production expenses and training for new technology personnel;
• Salaries and allowances for R&D staff;
• Costs for registration and protection of intellectual property, and expenses for technology fairs and exhibitions.

In addition, sponsorship dossiers must include a confirmation record from both the sponsor and the recipient, along with valid invoices and documents proving proper use of funds.
This is considered a major step forward in encouraging Vietnamese enterprises to invest in local research and technological innovation.

3. Personal Income Tax (PIT): Tax exemption for overtime and night shift earnings

According to Official Letter 632/CT-CS (16/04/2025), income from overtime or night work paid at a rate higher than daytime salary is exempt from PIT.
This policy applies uniformly to all employees under the 2019 Labor Code, helping to increase actual income and encourage flexible working arrangements.

4. Other taxes: New rules on timing of export invoice issuance

Decree 70/2025/NĐ-CP (20/03/2025) amends Decree 123/2020/NĐ-CP on invoices and documents, providing that:

• Export invoices must be issued no later than the next working day after goods are cleared for export;
• Integration of fee receipts and e-invoices into a single format is permitted;
• Adds mechanisms allowing third-party authorization for issuing e-invoices for both households and individual businesses.

These changes aim to standardize the national e-invoice system and support enterprises in comprehensive financial digitization.

5. Other issues: New U.S. tariff policy and its impact on Vietnam

On 03/04/2025, the U.S. Government announced a Reciprocal Tariffs policy imposing tariffs of up to 46% on Vietnamese goods to balance bilateral trade.
This policy may significantly impact textiles, seafood, steel, aluminum, and electronic components — Vietnam’s key export sectors.

ACAC recommends businesses to:

• Reassess cost structures, supply chains, and output partners;
• Expand markets to Europe, India, and Indonesia;
• Increase investment in technology and production innovation;
• Research U.S. tax mitigation mechanisms such as First Sale for Export (FSFE) to reduce impact.

6. Key documents in April 2025

• Official Letter 851/CT-CS (25/04/2025): Land use fees and land rent policy.
• Official Letter 726/CT-CS (21/04/2025): Tax policies on debt sales by banks.
• Official Letter 2615/CHQ-NVTHQ (21/04/2025): Classification and tax treatment of imported goods.
• Official Letter 651/CT-CS (16/04/2025): Contractor tax for foreign organizations.

ACAC – Creating Knowledge, Elevating Standards

With the April 2025 Bulletin, ACAC reaffirms its role as a trusted partner of the Vietnamese business community, providing in-depth legal and tax analyses to help clients stay ahead of changes and operate transparently.
We believe that knowledge and professional standards are the foundation for stable growth in a globalized environment.

📄 Full document:
Accounting – Auditing – Tax & Corporate Finance Bulletin, April 2025
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