HANOI, Feb. 18 (Xinhua) -- Goods valued under 1 million Vietnamese dong (39.18 U.S. dollars) will be imposed value-added tax (VAT) when they are imported into Vietnam via express delivery services, Vietnam News Agency reported Tuesday.

The new regulation is expected to create fair competition between domestically produced and imported goods, promoting local production.

It is estimated that if low-value goods worth less than 1 million dong are subject to a 10 percent VAT rate, state budget revenue could increase by around 2.7 trillion dong (105.6 million dollars).

According to the General Department of Customs, implementing this regulation aligns Vietnam's tax policies with international practices, ensures consistency within the current tax regulatory system, and follows the state's policy direction of expanding the tax base. Enditem

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