Tax & Pricing
Regulatory Update: Circular No. 69/2025/TT-BTC on Detailed Guidance for Value-Added Tax (VAT)
Detailed Regulations on Non-Taxable Objects, Input VAT Credit, Tax Rates, and Procedures for VAT Refunds.
Circular No. 69/2025/TT-BTC, issued by the Ministry of Finance on July 01, 2025, provides detailed guidance for implementing the new Law on VAT (Law 48/2024/QH15) and Decree 181/2025/NĐ-CP. This Circular clarifies specific conditions for VAT exemptions, defines the procedures for input VAT credit, and details documentation requirements for VAT refunds, ensuring consistent application across the country.
Key Highlights
- Scope of Application: The Circular guides the detailed implementation of regulations regarding VAT taxable objects, non-taxable objects, VAT calculation methods, tax rates, input VAT deduction, and VAT refunds.
- Key Updates/Guidance:
- Non-Taxable Objects: Provides clear definitions and conditions for goods and services specified as VAT-exempt, particularly for agricultural products, medical/veterinary services, and certain specialized equipment.
- Tax Rates (0%, 5%, 10%): Reaffirms the application of the three tax rates and provides specific examples and conditions for when the 0% rate applies (e.g., exports, international transport).
- Input VAT Deduction: Details the conditions for claiming Input VAT credit, including:
- Documentation requirements (Valid VAT invoices).
- Rules for separating deductible and non-deductible input VAT when used for both taxable and non-taxable activities.
- VAT Refund Procedures: Provides detailed guidance on the conditions and procedures for VAT refunds, including the minimum threshold for claiming a refund (e.g., at least 300 million VND of accumulated deductible input VAT).
- Effective Date: The Circular is effective from July 01, 2025, aligning with the effective date of the new VAT Law.
This summary is provided for reference purposes only and highlights key aspects of Circular No. 69/2025/TT-BTC. For full and legally binding content, please refer strictly to the attached official document.
Attached File:
📎 Circular No. 69/2025/TT-BTC (Official PDF – signed & sealed)
