Does Import Cargo Insurance Service Subject to VAT?
According to Article 3 of the Law on Value-Added Tax 2008: Goods and services used for production, business, and consumption in Vietnam are subject to value-added tax, except for the objects specified in Article 5 of this Law.
On the other hand, according to Article 5 of the Law on Value-Added Tax 2008; Articles 1 and 3 of the Law amending the Laws on Taxes 2014; the Law on Value-Added Tax, the Law on Special Consumption Tax, and the amended Law on Tax Administration 2016, the service of insurance for imported goods is not subject to non-value-added tax.
Thus, the service of insurance for imported goods is subject to value-added tax as stipulated.
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