Vietnam to Defer VAT Payments Due to COVID-19

Vietnam is drafting regulations to defer payments of value-added taxes for certain companies, products and industry sectors due to the COVID-19 pandemic, according to an April 2 post from KPMG. VATs will be extended for entities engaged in production or processing in the agricultural, forestry, fishery, food processing, clothing, rubber, electronic, computer and auto sectors, KPMG said in an alert. The deferrals will also apply to the transportation sector, including rail, road, waterways, aviation and warehousing.