With important changes from the Value Added Tax (VAT) Law in 2024, businesses now cannot continue to spend in cash without losing tax deduction rights. In this context, VPBank 's VPBiz card is emerging as an essential financial solution to help businesses standardize payment activities.
Businesses need a systematic payment system
From July 1, 2025, the 2024 VAT Law officially takes effect, marking a major step forward in tightening input tax deduction regulations. It is worth noting that any expenditure on goods and services, even if only a few million VND, if not paid in a non-cash form, will no longer be eligible for VAT deduction.
Previously, businesses could still pay in cash for invoices under VND 20 million without worrying about being excluded from the list of deductible expenses. However, according to the new regulations in Clause 2, Article 14 of the 2024 Law on VAT, from July 1, 2025, all expenses must have non-cash payment documents if they want to be counted as valid expenses for tax deduction. Exceptions only apply to special cases specifically regulated by the Government .
In addition to tightening regulations to increase transparency, the new Law also demonstrates efforts to accompany businesses through a number of positive adjustments, creating more convenience in tax declaration, refunds and optimizing valid costs. Specifically, the basis for input tax deduction for exported goods is expanded with documents such as packing slips, bills of lading, insurance (if any), thereby helping businesses reduce the burden of proving costs and be more flexible in tax refund dossiers. At the same time, businesses operating in fields with a tax rate of 5% such as healthcare, education, agriculture , clean water supply, etc. are also granted the right to tax refund if after 12 consecutive months or 4 quarters, there is still an input VAT amount of 300 million VND or more that has not been fully deducted.
These changes are not simply legal adjustments, but are creating clear pressure for businesses to make their financial systems transparent and control costs. Investing in a methodical, digitalized payment method with traceable transaction data is becoming an essential requirement if businesses want to maintain tax advantages and operate in compliance. In that context, VPBiz corporate card - a comprehensive financial tool developed by VPBankSME is gradually becoming the optimal choice for many businesses.
VPBiz Card - Systemize spending, increase financial management capacity
VPBiz credit and debit cards are not only payment methods but also serve as an effective financial management tool for businesses. All transactions made via cards are recorded, have detailed statements and are easily traceable, thereby meeting the requirements for valid documents in declaring and deducting VAT according to new regulations.
In addition, businesses can open multiple sub-cards for different departments or individuals such as accounting, business, shopping, etc. Each card has its own limit and permissions set. Transactions on each card are reported in detail by the bank, making it easy to compare books, prepare financial reports and prepare tax records.
In particular, the ICCP non-physical card line - VPBank's breakthrough product in the e-commerce transaction segment allows cardholders to set up identification payment codes corresponding to each transaction, increasing security during online spending while still ensuring cost control and VAT deduction declaration.
In addition to ensuring the validity of tax documents, VPBiz cards also bring many financial benefits, notably the unlimited refund program of up to 1%, helping businesses save significantly on costs to invest in other items. With the Platinum card line, businesses can also enjoy additional privileges such as airport lounges, Fast Track and Green Fee incentives at golf courses. In particular, to accompany businesses in adapting to the new tax law, VPBank has built a 10% refund program for all spending from now until August 31, 2025.
VPBiz's current product portfolio includes Mastercard Platinum, Mastercard Standard, WE credit cards and VPBiz Debit Cashback debit cards, ready to flexibly meet the needs of micro-enterprises to small and medium-sized enterprises. In the coming time, VPBank plans to continue expanding its portfolio with other specialized card lines according to each operating model. This diversification aims to create an optimal digital payment ecosystem for businesses of all sizes.
“With the effort to pioneer the digitalization of financial services, VPBank proactively designed VPBiz corporate card lines as a solution to anticipate changes in tax policies. From controlling costs, protecting tax benefits to increasing financial efficiency, VPBiz cards have been and will accompany the business community on the journey of sustainable development and improving competitiveness.” VPBank representative shared.
For more information, please contact hotline 1900 234 568 or visit website https://www.vpbank.com.vn/doanh-nghiep-vua-va-nho/dich-vu-the
Source: https://baolamdong.vn/doanh-nghiep-doi-mat-luat-thue-moi-vpbiz-giai-phap-giup-doanh-nghiep-chuan-hoa-thu-tuc-khau-tru-thue-381052.html
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