On January 28, 2022, Decree No. 15/2022/ND-CP was issued by the Government to regulate tax exemption and reduction policies according to Resolution No. 43/2022/QH15, dated January 11, 2022, of the National Assembly on Fiscal and Monetary Policies for supporting the Socio-Economic Recovery and Development Programme (Decree No. 15/2022/ND-CP), including guidance on reducing value-added tax (VAT) from 10% down to 8% from February 1, 2022 to the end of December 31, 2022.
This may affect the list of trading goods of multi-level enterprises as the change in the VAT rate as per the provisions of Decree No. 15/2022/ND-CP may lead to a change in the selling price of such goods. Accordingly, enterprises are accountable for informing the Ministry of Industry and Trade before applying such selling prices (pursuant to provisions of Decree No. 40/2018/ND-CP dated March 12, 2018, of the Government on the management of multi-level marketing activities).
However, in order to maintain business operations and minimize administrative procedures, the Vietnam Competition and Consumer Authority (VCCA) has announced the following:
1. Enterprises proactively adjust information on the tax and selling prices of multi-level marketing goods to comply with regulations of Decree No. 15/2022/ND-CP and Resolution No. 43/2022/QH15 dated January 11, 2022 of the National Assembly on Fiscal and Monetary Policies for supporting the Socio-Economic Recovery and Development Programme.
2. As recommended by VCCA, multi-level enterprises publicly and clearly announce new prices to multi-level sale participants and consumers, and at the same time, report in writing to VCCA before March 15, 2022 for monitoring, supervision, and management of multi-level marketing activities.
3. In case there is any change in other information in the list of goods traded by multi-level marketing, the enterprise is required to perform the procedures on announcing the change in the list of goods traded by multi-level marketing as per the provisions of Decree No. 40/2018/ND-CP.
VCCA is pleased to announce./.