🚨 HOT UPDATE – DECREE NO. 144/2026/NĐ-CP ON VAT
The Government has recently issued Decree No. 144/2026/NĐ-CP (effective from June 20, 2026), introducing several notable changes that directly affect tax deduction – revenue recognition – items not subject to tax.
👉 Accountants should pay close attention to the following key updates:
🔥 1. Additional items not subject to VAT
- Life insurance, health insurance, and student insurance
- Agricultural insurance, including crop and livestock insurance
- Fisheries insurance
- Reinsurance
- Insurance for the oil and gas sector
📌 Expansion of items not subject to VAT
🔥 2. Clarification of financial activities not subject to VAT
- Sale of debts, including receivables and payables
- Sale of certificates of deposit
📌 This helps minimize potential disputes when declaring VAT
🔥 3. Stricter control over exports of natural resources and minerals
- Export of raw natural resources is not encouraged
- AApplicable in accordance with the list prescribed by the State
📌 Enterprises should review their export activities immediately
🔥 4. Supplementing the method for determining revenue
- Taxable revenue
- Non-taxable revenue
- Revenue not required to be declared
- Value added from gold, silver, and precious stones
📌 The scope of revenue determination is broader than before
🔥 5. VAT deduction for deferred payment / installment purchases
✔ VAT can be deducted immediately if the following documents are available:
- Contracts
- VAT invoice
❗ Even if payment has not yet been made, provided that the payment is not yet due
⛔ If the payment due date has arrived but there is no non-cash payment document →
the previously deducted VAT must be adjusted downward
the previously deducted VAT must be adjusted downward
📌 Once proper payment is subsequently made, the corresponding VAT amount may be additionally deducted
🔥 6. Update on commission revenue
- Insurance agency and brokerage commissions
- If the related activity is not subject to VAT, the commission revenue will also be treated as non-taxable
⏰ Effective date
Applicable from: June 20, 2026
💥 Quick summary
- Expanded scope of items not subject to VAT
- Standardized revenue determination
- Stricter rules on VAT deduction
👉 Especially: For deferred payment or installment purchases exceeding VND 5 million, enterprises must strictly control non-cash payment documents
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