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Vietnam Ministry of Finance proposes new cash payment and tax rules
The Vietnamese Ministry of Finance is proposing updates to budget management and tax deduction regulations. The draft aims to narrow the scope of cash payments by prioritizing bank transfers to increase transparency and control over public funds. Under the proposal, cash payments would be limited to specific needs such as security, defense, land clearance, and transactions under 5 million VND.
To support socio-economically disadvantaged and remote areas, the Ministry proposes exemptions from non-cash payment requirements for certain transactions. This includes corporate salary payments to workers in these regions and purchases from local individuals or households. For transactions of 5 million VND or more in these areas, businesses could use summary lists instead of formal invoices to qualify for tax deductions. These changes are intended to align with existing tax laws and are proposed to take effect from the 2026 tax period.
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- [○ 1 SOURCE] Non-cash payment rules will not apply to corporate salaries paid to workers in difficult socio-economic regions. thanhnien.vn
- [○ 1 SOURCE] The draft proposes a cash payment threshold of under 5 million VND to align with current tax regulations. phunuvietnam.vn
- [○ 1 SOURCE] Businesses may use lists instead of invoices for purchases from individuals in disadvantaged areas for amounts of 5 million VND or more to qualify for tax deductions. thanhnien.vn
- [○ 1 SOURCE] The Ministry of Finance proposes exemptions from non-cash payment requirements for specific transactions in socio-economically disadvantaged areas. thanhnien.vn
- [○ 1 SOURCE] A draft proposal aims to narrow the scope of cash payments while expanding the group of beneficiaries receiving budget payments via bank accounts. phunuvietnam.vn