THE STATE BANK OF VIETNAM’S OPINION ON VAT APPLICABLE TO L/C SERVICES

On January 25, 2024, the State Bank of Vietnam issued an official letter and reported to the Deputy Prime Minister that no administrative tax violations and no late payment fees should be imposed on credit institutions that declared and paid VAT with regard to L/C services in accordance with tax authorities’ instructions. Please refer to the bases and propositions of SBV below.

240125 SBV on VAT LC

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