During a recent specialized conference on tax policies for households and individual businesses, Mrs. Nguyễn Thị Cúc, Chairwoman of the Vietnam Tax Consulting Association, addressed a common concern: “After January 1, 2026, can goods without input invoices still be sold?”
Mrs. Cúc confirmed, “These goods can still be sold as usual.” She emphasized the need to distinguish between legal inventory and smuggled or undocumented goods. “For example, I previously purchased goods from a household business, which doesn’t issue invoices. Now that I’ve switched to tax declaration, should I discard or destroy my existing inventory? That’s clearly impractical,” she stated.
According to her, businesses should self-audit, removing illegal goods while allowing legitimate inventory to be sold and taxed normally.
Mrs. Nguyễn Thị Cúc also noted that the biggest concern for businesses isn’t inventory but transitioning from lump-sum tax to actual tax declaration. “Many ask me: if I previously declared lower revenue—say 500 million, 700 million, or 1 billion—but the actual amount was higher, will tax authorities audit past years?” she shared.
In response, she believes authorities should encourage honesty and voluntary accurate declarations rather than fostering fear. “Transitioning may require some sacrifice, but it’s crucial to motivate truthful reporting. Only cases of significant fraud or intentional tax evasion should be pursued,” she added.
Regarding penalties, Mrs. Cúc argued they can’t be entirely eliminated, as it would be unfair. “If some comply and pay taxes fully while others evade hundreds of billions without consequence, that’s unjust,” she pointed out.
However, she stressed that tax authorities should apply reasonable risk management, targeting only clear cases like smuggling, money laundering, or tax fraud.
“Ideally, businesses should declare honestly from now on, paying taxes on new transactions. Tax authorities should also be flexible, ensuring a smooth, fair, and efficient transition to actual declarations,” Mrs. Nguyễn Thị Cúc concluded.
At the seminar “Promoting Voluntary Compliance for Full Tax Contribution to Build a Prosperous Era,” co-hosted by Lao Dong Newspaper, the Tax Department (Ministry of Finance), and the Vietnam Chamber of Commerce and Industry (VCCI), Deputy Director of the Tax Department Mai Sơn affirmed that voluntary tax compliance is a key indicator of social trust and consensus. He emphasized its strategic importance in modern tax administration, serving as a vital metric for management effectiveness and community confidence.
Additionally, Mr. Sơn revealed, “The tax sector is integrating new technologies like blockchain and AI into the next-generation tax management system, set to launch in 2026. The goal is to leverage big data analytics and risk management for enhanced oversight and taxpayer support.”
Vietnam’s Regulatory Reform: Amplifying the Voice of FDI Investors
Vietnam is implementing one of its most comprehensive business environment reform programs to date, aiming to slash administrative procedures by 30%. This initiative comes as international investors increasingly seek a more streamlined, transparent, and flexible investment landscape. These reforms are pivotal in positioning Vietnam as a faster, more investor-friendly, and competitive destination in the region.
Vietnam Emerges as a Billion-Dollar Destination: Surpassing Regional Neighbors, Poised for Growth
Savvy investors are pouring billions into Vietnam’s burgeoning data center market, betting big on its emergence as Southeast Asia’s next growth powerhouse.
Automated Late Tax Payment Reminders and Penalty Review Needed
At the seminar “Promoting Voluntary Compliance, Full Tax Contribution – Building a Prosperous Era” organized by Lao Dong Newspaper on October 23, experts emphasized that tax authorities should shift from a “management and imposition” mindset to one of “accompaniment and support” to enhance taxpayers’ voluntary compliance.
Motorola’s Ambitious Comeback: Can It Challenge iPhone and Samsung in Vietnam?
After years of seeming obscurity, Motorola is making a confident return to Vietnam—a market that appears saturated with giants like Samsung, iPhone, and emerging Chinese brands.
“The Elusive Octopus: Chairman of Cong Minh Greenery Company Wanted for Special Investigation”
Mr. Nguyen Cong Minh, Chairman of the Board of Directors of Cong Minh Greenery Corporation, has been placed on a special wanted list. Cong Minh Greenery Corporation and its business ecosystem have secured numerous contracts across various provinces and cities.
