Which insurance services are exempt from VAT trực tiếp bóng đá euro hôm nay Vietnam from July 1, 2025?

What are the principles for provision and use of insurance services trực tiếp bóng đá euro hôm nay Vietnam?

Pursuant to the provisions of Article 6 of theLaw on Insurance Business 2022regarding principles for provision and use of insurance services as follows:

- Organizations and individuals trực tiếp bóng đá euro hôm nay Vietnam wishing to participate trực tiếp bóng đá euro hôm nay insurance may only engage trực tiếp bóng đá euro hôm nay insurance with an insurer, a foreign non-life insurer's branch, or a mutual organization providing microinsurance with a license to establish and operate trực tiếp bóng đá euro hôm nay Vietnam, except trực tiếp bóng đá euro hôm nay cases of using cross-border insurance services complying with international agreements to which the Socialist Republic of Vietnam is a member.

The state will ensure the legal rights and interests of organizations and individuals participating trực tiếp bóng đá euro hôm nay insurance and those engaging trực tiếp bóng đá euro hôm nay insurance business activities. (Clause 1, Article 5 of theLaw on Insurance Business 2022)

- The Government of Vietnam shall stipulate trực tiếp bóng đá euro hôm nay detail the provision and use of cross-border insurance services, cross-border insurance brokerage services, and cross-border ancillary insurance services trực tiếp bóng đá euro hôm nay accordance with international treaties to which the Socialist Republic of Vietnam is a member.

Which insurance services are exempt from VAT trực tiếp bóng đá euro hôm nay Vietnam from July 1, 2025?

Based on the provisions of Clause 8, Article 5 of theValue Added Tax Law 2024(Effective from July 1, 2025), certain insurance services exempt from VAT include:

- Life insurance, health insurance, student insurance, and other insurance services related to individuals;

- Livestock insurance, crop insurance, and other agricultural insurance services;

- Insurance for ships, fishing vessels, and other necessary equipment directly serving fisheries catching;

- Reinsurance;

- Insurance for foreign-flagged oil rigs, oil equipment, and storage vessels rented by foreign oil contractors or subcontractors for operations trực tiếp bóng đá euro hôm nay the Vietnamese waters, overlapping waters that Vietnam and adjacent countries have agreed to jointly explore.

Which insurance services are exempt from VAT trực tiếp bóng đá euro hôm nay Vietnamfrom July 1, 2025? (Image from Internet)

Which entities are VAT payers trực tiếp bóng đá euro hôm nay Vietnam from July 1, 2025?

According to the provisions of Article 4 of theValue Added Tax Law 2024(Effective from July 1, 2025), the VAT payers are specified as follows:

- Organizations, households, individuals producing and trading trực tiếp bóng đá euro hôm nay goods and services subject to value-added tax (hereinafter referred to as business establishments).

- Organizations, individuals importing goods subject to value-added tax (hereinafter referred to as importers).

- Organizations, individuals producing, doing business trực tiếp bóng đá euro hôm nay Vietnam that purchase services (including cases of purchasing services attached to goods) from foreign organizations without permanent establishments trực tiếp bóng đá euro hôm nay Vietnam, or individuals abroad who are non-resident entities trực tiếp bóng đá euro hôm nay Vietnam, except as provided trực tiếp bóng đá euro hôm nay Clauses 4 and 5, Article 4 of theValue Added Tax Law 2024(Effective from July 1, 2025);

Organizations producing, doing business trực tiếp bóng đá euro hôm nay Vietnam that purchase goods and services for conducting search, exploration, development of oil and gas fields from foreign organizations without permanent establishments trực tiếp bóng đá euro hôm nay Vietnam or individuals abroad who are non-resident entities trực tiếp bóng đá euro hôm nay Vietnam.

- Foreign suppliers without permanent establishments trực tiếp bóng đá euro hôm nay Vietnam engaging trực tiếp bóng đá euro hôm nay e-commerce, digital platform-based business with organizations, individuals trực tiếp bóng đá euro hôm nay Vietnam (hereinafter referred to as foreign suppliers); organizations that are managers of foreign digital platforms implementing VAT deduction, payment for foreign suppliers; business organizations trực tiếp bóng đá euro hôm nay Vietnam applying the VAT credit method which purchase services from foreign suppliers without permanent establishments trực tiếp bóng đá euro hôm nay Vietnam through e-commerce channels, or digital platforms implementing VAT deduction, payment for foreign suppliers.

- Organizations that are managers of e-commerce trading floors, managers of digital platforms with payment functions implementing VAT deduction, paying tax on behalf of business households, individual businesses on e-commerce platforms, and digital platforms.

Note: The Government of Vietnam shall detail Clauses 1, 4, and 5, Article 4 of theValue Added Tax Law 2024(Effective from July 1, 2025); stipulate the tax payer trực tiếp bóng đá euro hôm nay cases where a foreign supplier provides services to buyers that are business organizations trực tiếp bóng đá euro hôm nay Vietnam applying the credit method specified trực tiếp bóng đá euro hôm nay Clause 4, Article 4 of theValue Added Tax Law 2024(Effective from July 1, 2025).