This September 2026 Vietnam tax update summarises recent guidance on VAT refunds for investment projects, deductible vehicle rental expenses, PIT withholding after employment termination, invoice issuance timing and exchange rates on export invoices. Each section highlights the relevant conditions and practical considerations to help businesses review their tax procedures and supporting documents.

1. INVOICE

Guidance on invoice issuance timing for services supplied to individual consumers and transactions arising at night.

Pursuant to Official Letter No. 6325/CT-QLNT dated August 26, 2026 of the Tax Department, guiding Article 9 of Decree No. 254/2026/NĐ-CP (effective July 1, 2026).

Services supplied to individual consumers

For enterprises providing services to individual consumers, including banking; payment intermediary services; credit information services; securities business; crypto-asset transactions; support services for transactions on carbon exchanges; insurance business; money transfers via e-wallets; suspension and resumption of electricity supply; e-commerce; postal and transportation services supporting e-commerce; public passenger transport by metro and bus; passenger transport by taxi, contract vehicle, and two-wheeled motorcycle; parking services; cinema services; and other services, where such enterprises satisfy the conditions of having a software system capable of managing each transaction in detail and maintaining payment collection data in the system on a transaction-by-transaction basis:

– The seller shall prepare a Summary of E-Invoice Data for Sales of Goods and Provision of Services and a Detailed Statement of Transactions Arising During the Month or Quarter (covering the period from the first day to the last day of the relevant month or quarter), using the forms prescribed by the Minister of Finance, and submit them to the tax authority no later than the statutory deadline for submission of the Value Added Tax (“VAT”) return in accordance with the laws on tax administration.

– Where a large volume of invoices is generated, the Summary of E-Invoice Data and the Detailed Statement of Transactions shall be divided into separate data files in accordance with the standard data format prescribed by the tax authority to ensure compliance with the technical requirements for data transmission and receipt.

The seller is responsible for the accuracy of transaction information, must retain full detailed data for each transaction, and must ensure the data can be retrieved, reconciled and provided, together with related documents, on request of the tax authority or competent state agency.

Transactions arising during night working hours

Where the seller has no automatic invoicing software and sells goods or supplies services during night working hours as defined by the Labor Code, the invoice must be issued no later than the next working day.ogether with the Appendix on VAT Refund Claim Information (Form No. 01-8/GTGT) as the basis for the tax authority to review and process the refund request.

Guidance on Exchange Rates Stated on Invoices for Export Activities

Pursuant to Official Letter No. 6810/CT-QLNT dated 14 September 2026

In cases where economic or financial transactions are denominated in foreign currencies in accordance with foreign exchange regulations, the seller shall indicate on the invoice the exchange rate between the foreign currency and the Vietnamese Dong as prescribed in Point c.1, Clause 8 of the Appendix attached to Decree No. 254/2026/NĐ-CP.

Pursuant to Clauses 1 and 5, Article 26 of the Law on Tax Administration No. 108/2025/QH15 and the accounting regulations, the exchange rate shown on the invoice shall be the actual transaction exchange rate determined in accordance with accounting laws and regulations.

2. PERSONAL INCOME TAX

Guidance on 10% PIT withholding on income paid to employees whose labour contracts have been terminated.

Pursuant to Official Letter No. 10049/NBI-QLDN1 dated August 3, 2026 of the Ninh Binh Provincial Tax Office, guiding Clauses 1 and 3, Article 26 and Clause 2, Article 50 of Decree No. 253/2026/NĐ-CP dated June 30, 2026

– Where an employee is a resident individual whose labor contract was terminated on 30 June 2026, and the Company pays the employee’s salary for June 2026 on 10 July 2026, such payment shall be treated as a salary payment made to an individual whose labor contract has already been terminated. If the payment to each individual on each occasion is VND 5 million or more, the Company shall withhold personal income tax (“PIT”) at the rate of 10% before making the payment. If the payment is less than VND 5 million per payment, the Company shall withhold PIT at the rate of 10% only at the individual’s request.

– The Company shall withhold PIT at the rate of 10% on taxable income from salaries and wages before making payment to the individual. Tax-exempt income prescribed by law, including remuneration for night work and overtime work, and salaries and wages paid for unused annual leave within the conditions, duration and limits prescribed by labor laws, shall not be included in the income subject to withholding. Any amount exceeding the statutory limits shall be included in taxable income.

Compulsory insurance contributions, personal and dependent deductions, and other allowable deductions are taken into account in determining taxable income when applying the partially progressive tax tariff or upon annual PIT finalization, and shall not be deducted when applying the provisional 10% withholding rate prescribed in Clause 2, Article 50 of Decree No. 253/2026/ND-CP.

3. VALUE ADDED TAX

Guidance on VAT Refund Conditions for Investment Projects

Pursuant to Official Letter No. 7019/CT-QLNT dated 22 September 2026 issued by the Tax Department:

Where, at the time of submitting the VAT refund application, a business establishment falls within the scope of cases eligible for a VAT refund in respect of an investment project, has input VAT that fully satisfies the conditions for VAT credit and refund in accordance with the VAT regulations, and has submitted a VAT refund application dossier in compliance with the tax administration regulations, the business establishment shall be considered for a VAT refund in respect of the investment project.

Pursuant to Clause 4, Article 3 of Law on Investment No. 61/2020/QH14, Clause 2, Article 15 of Law on Value Added Tax No. 48/2024/QH15, and Article 30 of Decree No. 181/2025/ND-CP, there is no provision stipulating that the date of issuance of the Investment Registration Certificate (“IRC”) shall serve as the basis for determining the input VAT attributable to an investment project

Where the Company has VAT invoices for purchased goods and services arising prior to the issuance of the IRC, if the Company is able to provide sufficient supporting documents and evidence demonstrating that such goods and services were actually purchased for the preparation and implementation of the investment project in accordance with the laws on investment, and the related input VAT satisfies the conditions for VAT credit and refund under the VAT regulations, such input VAT may be considered for credit and refund in respect of the investment project in accordance with the applicable regulations.

4. CORPORATE INCOME TAX

Guidance on the Conditions for Treating Vehicle Rental Expenses Paid to Individuals as Deductible Expenses for Corporate Income Tax Purposes

Pursuant to Official Letter No. 15944/DON-QLDN3 dated 18 August 2026 issued by the Dong Nai Tax Authority:

Where an enterprise rents assets from an individual, the supporting documents required to substantiate the deductible expense include the asset lease agreement and documents evidencing payment of the rental fee.
Where an enterprise rents assets from an individual and the lease agreement stipulates that the rental fee is exclusive of taxes (including value added tax and personal income tax), and the enterprise is required to declare and pay such taxes on behalf of the individual in accordance with the laws on tax administration, the taxes paid on behalf of the individual may also be treated as deductible expenses for corporate income tax purposes, provided that valid tax payment documents are available.

5. Review Your Business’s Tax Compliance

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If these updates affect your business, our team can help assess the implications, review your current procedures and recommend practical actions suited to your operations.

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30% CIT Reduction: New Tax Policy in Vietnam for 2026–2027 Tax Period

Vietnam has introduced a new tax relief measure for the 2026 and 2027 tax periods under Resolution No. 43/2026/QH16. Eligible enterprises and organizations established under Vietnamese law with annual revenue of no more than VND 10 billion may receive a 30% reduction in corporate income tax (CIT) payable.

The policy is intended to provide additional tax support for eligible businesses. However, the 30% reduction should not be confused with a 30% reduction in the statutory CIT rate. In practice, businesses need to determine their eligible CIT payable first, then apply the reduction in accordance with the applicable rules.

What Does Resolution No. 43/2026/QH16 Say About the Tax Reduction?

Resolution No. 43/2026/QH16 was issued by the National Assembly on 24 August 2026. The Resolution introduces tax reductions for both personal income tax (PIT) and corporate income tax (CIT) for the 2026 and 2027 tax periods as follows:

“…

2. A 30% reduction in corporate income tax payable for the 2026 and 2027 tax periods shall apply to the income of enterprises and organizations established in accordance with Vietnamese law whose annual revenue in 2026 or 2027 does not exceed VND 10 billion.

This reduction does not apply to enterprises established through the division or separation of an enterprise after the effective date of this Resolution, where the combined annual revenue of the enterprises resulting from such division or separation exceeds VND 10 billion in 2026 or 2027.

In cases where an enterprise is already entitled to tax incentives under the Law on Corporate Income Tax or other laws or resolutions of the National Assembly, the corporate income tax reduction specified in this Clause shall be calculated based on the corporate income tax payable after deducting the applicable tax incentives.”

30% CIT Reduction for Enterprises

For CIT, eligible enterprises and organizations may receive a 30% reduction in CIT payable for the 2026 and 2027 tax periods if they are established under Vietnamese law and have annual revenue of no more than VND 10 billion in the relevant tax year.

The reduction does not apply to enterprises formed through the division or separation of an existing enterprise after the Resolution takes effect if the combined annual revenue of the enterprises resulting from such division or separation exceeds VND 10 billion in the relevant year.

For enterprises already benefiting from CIT incentives under the Law on Corporate Income Tax or other laws and resolutions of the National Assembly, the 30% reduction is calculated based on the CIT payable after the applicable tax incentives have been deducted.

30% PIT Reduction for Business Individuals and Households

Resolution 43 also provides a 30% reduction of PIT payable for the 2026 and 2027 tax periods for resident individuals earning business income whose annual revenue does not exceed VND 10 billion.

Although the CIT and PIT provisions use a similar 30% reduction concept and a VND 10 billion revenue threshold, they apply to different taxpayers.

Importantly, this 30% PIT reduction applies only to PIT arising from business income. It does not apply to PIT calculated on employment income, such as salary or wages received by individuals as employees.

What Is the Current CIT Rate in Vietnam?

The 30% CIT reduction needs to be considered alongside the CIT rates currently applicable in Vietnam.

Under the 2025 Law on Corporate Income Tax, the standard CIT rate is 20%, while 15% and 17% rates may apply to qualifying enterprises based on annual revenue and other statutory conditions.

This makes it important to distinguish between two separate concepts:

CIT rate — the statutory rate used to calculate CIT liability.
30% CIT reduction — a tax relief mechanism that reduces the resulting CIT payable for qualifying businesses.

Reference: Updated 2025 | Corporate Income Tax Rates in Vietnam

Standard CIT Rate: 20%

The general CIT rate under the 2025 Law on Corporate Income Tax is 20%, unless a different rate or preferential tax rate applies.

For example:

If a company has VND 1 billion in taxable profit and the applicable CIT rate is 20%, its CIT payable before the reduction would be VND 200 million. And the company qualifies for the 30% CIT reduction under Resolution No. 43/2026/QH16, it would receive a reduction of VND 60 million (30% of VND 200 million) and would therefore pay VND 140 million in CIT.

=> In other words, the company effectively pays 70% of its applicable CIT liability. The statutory CIT rate, however, remains 20%; it is not reduced to 14%.

15% and 17% CIT Rates for Smaller Enterprises

The 2025 Law on Corporate Income Tax introduced additional CIT rates for qualifying enterprises:

Annual revenue condition	CIT rate
No more than VND 3 billion	15%
Over VND 3 billion to VND 50 billion	17%
General rate	20%

The law specifies that the revenue used to determine eligibility for the 15% and 17% rates is based on the total revenue of the immediately preceding CIT tax period, subject to the applicable rules. Certain types of income and enterprises are excluded from these reduced rates.

Businesses should therefore avoid assuming that the VND 10 billion threshold under Resolution 43 and the thresholds for the 15% or 17% CIT rates operate in exactly the same way.

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