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THE MINISTRY
OF FINANCE
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SOCIALIST
REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
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No.:
65/2013/TT-BTC
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Hanoi, May 17,
2013
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CIRCULAR
AMENDING AND SUPPLEMENTING
THE CIRCULAR NO. 06/2012/TT-BTC DATED 11/01/2012 OF THE MINISTRY OF FINANCE
GUIDING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE LAW ON VALUE-ADDED
TAX, GUIDING THE IMPLEMENTATION OF THE DECREE NO. 123/2008/ND-CP OF DECEMBER
08, 2008 AND THE DECREE NO. 121/2011/ND-CP OF DECEMBER 27, 2011 OF THE
GOVERNMENT
Pursuant to
the Law on Value-added tax No. 13/2008/QH12 dated June 03, 2008;
Pursuant to
the Law on Tax administration No. 78/2006/QH11, dated November 29, 2006;
Pursuant to
the Government’s Decree No. 123/2008/ND-CP dated December 08, 2008 detailing and guiding the implementation of a number of articles of the
Law on value-added tax;
Pursuant to the Government’s Decree No. 121/2011/ND-CP
dated December 27, 2011 amending and supplementing a number of articles of the
Government’s Decree No. 123/2008/ND-CP dated December 08, 2008 detailing and guiding the implementation of a number of articles of the
Law on value-added tax;
Pursuant to the Government’s Decree No. 118/2008/ND-CP
dated November 27, 2008 defining the functions, tasks, powers and
organizational structure of the Ministry of Finance;
At the proposal of General director of General Department
of Taxation;
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Article 1. To
amend, supplement some contents in the Circular No. 06/2012/TT-BTC:
1. To amend and supplement point a clause 8 Article 4 of
Chapter I as follows:
“a. Credit provision services include forms:
- Loaning;
- Discounts, rediscounts of transferring instruments and other valuable
papers;
- Banking guarantee;
- Financial
leasing;
- Credit card issuance;
- Domestic factoring, international factoring regarding banks licensed
for international payments;
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Assets for loan security of VAT
payers or having been transferred ownership to lenders are subject to VAT upon
sale except for VAT non-taxable goods specified in Article 4 of this Circular.
Example 2: LLC A mortgages its
lines, machinery, equipment to borrow at the bank B. As the loan term is
due under the credit contract and LLC A fails to pay debts, bank B shall sell
the loan security assets (regardless of the asset ownership are transferred to
bank B or not) to retrieve debts, such assets are subject to VAT.”
2. To amend and supplement point a clause 11 Article 4 of
the Circular No. 06/2012/TT-BTC as follows:
“a) Public services of streets and residential area hygiene, drainage
provided for organizations, individuals (including organizations and
individuals in or out of industrial zones) include activities of collecting,
disposing, transport, processing trash and waste; drainage, wastewater
processing; pumping, transporting and processing sludge, septic tank; ensuring
smoothness of hygiene works, drainage system, cleaning public restrooms,
maintaining hygiene in portable restrooms, collecting, transporting and
processing other wastes.
For business establishments
providing services such as office cleaning, house cleaning, such services are
subject to VAT.
Example 3: If LLC B providing the
office cleaning service for unit C, corridor and staircase cleaning services
for apartment H, such services are subject to VAT.”
3. To
amend and supplement clause 2 Article 5 of Chapter I as follows:
“2. Revenues from compensation, bonus, subsidy, amounts from transfer of
emission rights and other financial revenues.
When receiving revenues from
compensations, bonus, subsidy, amounts from transfer of emission rights and
other financial revenues, business establishments shall make collection
vouchers as prescribed. For business
establishments spending money, the expenditure vouchers are made based on the
spending purposes.
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Example 10: Joint-stock company VC
signs the 6-month loan contract with enterprise T and receive the interest
amounts. The interest
amounts that Joint-stock company VC received is not subject to VAT.
Example 11: LLC P&C receives
the interest amounts from purchasing bonds and dividend from purchasing other
enterprises’ stocks. LLC P&C is not
required to declare and pay VAT regarding the interest amounts from purchasing
bonds and the received dividend.
Example 12: Enterprise A receives 50
million VND of compensation for damages due to cancelation of contract from
enterprise B, enterprises A shall make collection vouchers and not have to
declare and pay VAT regarding that amount.
Example 13: Enterprise X purchases
goods from enterprise Y, enterprise X pays in advance for enterprise Y and
receives interest on that advance payment amount, enterprise X is not required
to declare and pay VAT regarding the recieved interest amount.
Example 14: Enterprise X sells
goods for enterprise Z, the total amount is VND 440 million. According to the contract, enterprise Z must
make deferred payment within 3 months, the deferred payment interest rate is
1%/month/total payment price of the contract. After
3 months, enterprise X receives from enterprise Z VND 440 million of the total
payment price of the contract and VND 13.2 million of deferred payment interest
amount (VND 440 million x 1% x 3 months), enterprise X is not required to
declare and pay VAT regarding the amount of VND 13.2 million.”
4. To
amend and supplement point a.3 clause 9 Article 7 section I of Chapter II as
follows:
“a.3) For case of land lease to construct infrastructure, houses for sale or
lease, land prices deducted for VAT calculation are the land rents payable to
the State budget (excluding the exempted/reduced land rents) and expenses for
the compensation and clearance as prescribed by law.
Example: The
VN-KR joint-stock company has business lines including investment and business
in infrastructure of industrial production and services. The company is leased
land by State, in form of collecting land rents once for investment in
construction of infrastructure of industrial zones to implement projects;
duration of land rent is 50 years. Area of rent land is 300,000 m2,
price of land rents paid once for entire duration of rent is 82,000 VND / m2.
Total payable land rents is VND 24.6 billion. The company is not
exempted, reduced land rents. After investing in construction of
infrastructure, the company sign a contract for other investor to rent with
duration of rent is 49 years, area of leased land is 16,500 m2,
price unit of lease at time of signing contract is 450,000 VND/m2 for
entire duration of rent, price included VAT.
Price included
VAT for amount from lease of infrastructure in entire duration of lease (49
years) applied to the VN-KR joint-stock company leased land to other investor
is determined:
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Price excluded
VAT is determined: 6.072 billion: (1+ 0.1) = 5.52 billion.
VAT is: 5.52
billion x 10% = 0.552 billion.”
5. To
supplement point a.6 at point a clause 9 Article 7 section I of Chapter II as
follows:
“a.6) If a real estate business
enterprise is transferred the agricultural land use right from people under
contract of transfer, then the competent state agency allow to change the use
purpose into resident land to construct apartment, dwelling houses, etc for
sale, the land price deducted for VAT calculation is price of agricultural land
transferred from people and other expenses including: Land levy remitted in the
State budget for change of land use purpose from agricultural land into
resident land, personal income tax paid instead of people who transfer land (if
parties agreed that the real estate business enterprise shall pay instead)”.
6. To
supplement at the bottom of point b clause 9 Article 7 as follows:
“Cases of construction, business
of infrastructure, construction of houses for sale, transfer which arise the
collection of money based on the implementation schedule of projects or
progress of money collection inscribed in contract, the deducted land price is
calculated according to the rate (%) of the collected amount based on the
implementation schedule of projects on total amount based on contract or
progress of money collection inscribed in contract with the land price deducted
in accordance with regulation."
7. To
amend clause 3 Article 9 section I of Chapter II as follows:
“3. Cases not applying 0% tax rate includes:
- Reinsurance to abroad;
technology transfer, intellectual property right transfer to abroad; capital
transfer, credit extension, securities investment to abroad; derivative
financial services; postal / telecommunication services of outgoing to abroad
(including postal /telecommunication services provided for organizations,
individuals in the non-tariff zones; provision of mobile phone card contained
number code, par value to abroad or into the non-tariff zones); export products
being natural resources, minerals that are exploited but unprocessed into other
products; goods, services provided for individuals without business
registration in non-tariff zones, except for other cases as prescribed by the
Prime Minister;
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- Cars sold to organizations,
individuals in non-tariff zones.
- Services provided by business
establishments for organizations, individuals in non-tariff zones include:
lease of houses, halls, offices, hotels, warehouses, yards; service of
worker transport; catering service (except for provision of industry
meals, catering services in non-tariff zones).
- The post-provision services
performed in Vietnam provided for overseas organizations, individuals not
applying 0% tax rate include:
+ Sport competition, art/cultural
performance, entertainment, convention, hotel, training, advertising, travel
services;
+ Online payment services.
Cases not applying 0% tax rate
specified in this clause shall apply the corresponding tax rate of goods, services
upon being sold and supplied domestically.”
8. To amend clause 4 Article 14
section I of Chapter III as follows:
“4. Establishments producing
agricultural, forest, aquatic/maritime products with closed production,
accounting the results of concentrated production and business using products
from the agricultural, forestial production or maritime/aquatic rearing and
catching stages as raw materials to proceed producing products subject to VAT
(including unprocessed agricultural, forestial, aquatic products for export or
processed products subject to VAT) are entitled to declare and deduct the input
VAT serving for the production and business at all stages of capital
construction, production, processing. Establishments having investment
projects to continue production, processing or having written commitment to
continue producing products subject to VAT are entitled to declare and deduct
VAT in the stage of the investment in capital construction. For input VAT
arising at the stage of investment in capital construction that is declared,
deducted, refunded but then turns out to be not eligible for deduction or
refund, enterprises must declare, adjust and repay the deducted or refunded
VAT. If an enterprise fail to adjust and then detected through inspection,
examination by tax agencies, tax agencies shall collect/refund the tax arrears
and sanction as prescribed. Enterprises must be totally responsible
before law for the reported contents, explanation commitment with tax agencies
relating to tax deduction and tax refund.
For establishments selling goods
as unprocessed or preliminarily processed agricultural, foreatial, aquatic
products not subject to VAT, the Vat on purchased goods, services shall be
deducted at the ratio (%) of the revenue of VAT taxable goods, services on
total revenue of sold goods, services.
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If enterprises sell rubber latex not
subject to VAT, they are not entitled to deduct tax.
If enterprises using part of the
exploited rubber latex for production of products subject to VAT and the rest
for sale, the input VAT shall be deducted as follow:
- Input Vat on fixed assets (rubber garden, processing factories…): enterprises are entitled to deduct all
(including VAT arising in the stage of investment in capital construction).
- Input Vat on goods, services: deducted
at the ratio (%) of the revenue from VAT taxable goods, services on the total
revenue from sold goods, services.”
9. To amend point c clause 2
Article 15 section I of Chapter III as follows:
“c) For goods, services purchased in instalments or deferred payment worth
twenty million VND or more, business establishments shall base on the wirtten
contracts of service, goods purchase, VAT invoices and receipts of payment
through banks of goods, services purchased by instalments or deferred payment
to make the declaration and deduction of input VAT, and clearly describe the
term of payment in the “note” section on the list of invoices and vouchers of
purchased goods, services. If the receipts of payment through banks are
not available because the contractual payment is not due, business
establishments are still entitled to declare and deduct the input VAT.
When the contractual payment is
due, the input VAT shall not be deducted without receipts of payment through
banks, business establishments must declare and reduce the deducted input VAT
on the goods without receipts of payment through banks. When adjusting to
reduce the deducted input VAT corresponding to value of purchased goods,
services without receipts of payment through banks, business establishments
shall concurrently make accounting to increase expenses for enterprise income
tax calculation of expenses corresponding to the input VAT not entitled to
deduct and been adjusted for reduction, and after having receipts of payment
through banks, business establishments are entitled to declare to supplement
VAT and implement adjustment to reduce the corresponding expenses for
enterprise income tax calculation.
If business establishments fail to
make accounting in increasing expenses to calculate enterprise income tax for
the expenses corresponding with the input VAT that is not entitled to deduct
and already been adjusted for reduction, they shall not be required to
re-adjust expenses to calculate enterprise income tax
In case the contractual payment is
overdue and business establishments fail to reduce as prescribed but they are
able to present adequate documents proving the payment through banks before the
tax agencies publicize the inspection’s decisions at their head offices, and if
the undone reduction does not lead to the lack of payable tax amounts or the
increase of refundable tax amounts, such business establishments shall be
administratively sanctioned for violations of tax procedures; if the undone
reduction leads to the lack of payable tax amounts or the increase of
refundable tax amounts, tax agencies shall perform tax arrears collection or
refund and sanction over the business establishments in accordance with the Law
on Tax administration.
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- For VAT
invoices that have been adjusted for reduction by business establishments
before the tax agencies inspect, examine, business establishments are entitled
to declare for supplementation of VAT.
- For VAT
invoices that have not been adjusted for reduction by business establishments
before the tax agencies inspect, examine, business establishments are entitled
to declare for supplementation of VAT if they have receipts
of payment through banks within 6 months from the month of having decisions on
handling of tax agencies.
Example 49: In November 2012, the
tax agency issues the decision on VAT inspection at LLC Z, the inspected period
is the year 2011 and 5 months in 2012. During the inspection, LLC Z fails to
present the receipts of payment through banks for a number of deferred payment
contracts which are overdue in 2011 and in the 5 months in 2012.
Consequently, the tax agency disapproves LLC Z’s the declaration and deduction
of the VAT on invoices without receipts of payment through bank. However,
in November and December 2012, LLC Z presents the receipts of payment through
banks of invoices disapproved by the tax agency, LLC Z is still entitled to
make additional declaration and deduction of the VAT amounts of these invoices
on the VAT declaration of November and December 2012.
Example 49a:
At LLC Super happens as follows:
In February, March in 2012, LLC
Super has a VAT invoice from purchasing goods according to contract of deferred
payment, payment time limit is October 31, 2012. Base on VAT invoice issued by
the seller, LLC Super declared and deducted VAT on the VAT declaration of
February, March 2012. Till payment time limit (October 31, 2012) due to
financial difficulties, LLC Z is unable for payment. LLC Super self-declared to
reduce on the VAT declaration of October 2012, and accountant declared to
increase expenses to calculate the enterprise income tax calculation for the
expenses corresponding to the input VAT not entitled to deduct and already been
adjusted for reduction.
In April 2013,
the tax agency issues Decision on VAT examination at LLC Super. For VAT invoices of goods purchase in February, March 2012 under the
deferred payment contract with time limit of payment is October 31, 2012,
because Company has self-adjusted to reduce the tax declared and deducted on
the VAT declaration in October 2012, the examination delagation shall recognize
for reduced figure.
In May 2013,
the tax agency issues a Decision on VAT handling with respect to LLC Super (in
Decision there is no content on VAT handling of VAT invoices from goods
purchase in February, March 2012 under the deferred payment contract with time limit
of payment is October 31, 2012, because the examination delagation has
recognized for reduced accounting figure).
In December
2013, LLC Super has receipts of payment through banks for the deferred payment contract of VAT invoices from goods
purchase in February, March 2012 (time limit of payment is October 31,
2012), LLC Super is entitled to declare adjustment for supplementation of VAT. And LLC Super implement adjustment to
reduce the respective expenses for enterprise income tax calculation.
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At LLC YKK happens as follows:
- In March and April 2012, LLC YKK
has a VAT invoice from purchasing goods according to contract of deferred
payment, payment time limit is in September, 2012. Base on VAT invoice issued
by the seller, accountant of LLC YKK declared and deducted VAT on the VAT
declarations of March and April, 2012. Till payment time limit in September,
2012, LLC YKK is unable for payment, however company failed to declare for
reduction adjustment.
In April 2013, the tax agency
issues the decision on VAT inspection at LLC YKK, the inspected period is the
year 2012. During the inspection, LLC YKK fails to present the receipts of
payment through banks for VAT invoices of goods purchase under deferred payment
contracts which are overdue in September 2012. The inspection delagation
handled and disapproved for LLC YKK to declare and deduct VAT for invoices
without receipts of payment through bank.
In May 2013, the tax agency issued
a handling Decision on collection of VAT arrears at LLC YKK.
In October 2013, LLC YKK has
receipts of payment through banks for the deferred payment contract of VAT
invoices from goods purchase in March 2012 (time limit of payment is in
September, 2012), LLC YKK is entitled to declare adjustment for supplementation
of VAT because time of having receipts of payment through banks is in time
limit of 6 months after the tax agency issuing the handling Decision on
collection of tax arrears.
In December 2013, LLC YKK has
receipts of payment through banks for the deferred payment contract of VAT
invoices from goods purchase in April 2012 (time limit of payment is in
September, 2012), LLC YKK is entitled to declare adjustment for supplementation
of VAT because time of having receipts of payment through banks is over time limit
of 6 months after the tax agency issuing the handling Decision on collection of
tax arrears.
Example 49c:
In September 2012, the Tax
Department of province B issued a Decision on tax handling and sanctioning
administrative violations of joint-stock company PNG through examination of tax
law compliance, in content of Decision, the VAT refund amount of VND
460,000,000 must be collected; this amount is the deducted VAT amount of goods
purchase with goods' value more than VND 20 million, till the time of
examination, company has not yet had receipts of payment through bank, and it
is overdue according to contract of dossier set refunded tax in the refunding
period of from January 2012 to March 2012. Joint-stock company PNJ has complied
and remitted full tax arrears into the State budget.
In October 2012, joint-stock
company PNG has receipts of payment through bank for invoice of goods purchase
under the overdue contract corresponding to the VAT amount of VND 460,000,000
which was collected by tax agency, joint-stock company PNG is entitled to
declare additionally on the VAT declaration in October, 2012”.
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3. When the business establishments subject to VAT payment under the
deduction method have new investment project in the same province or city and
being in the investment stage, such business establishments must declare and
offset the VAT amount of purchased goods, services serving the new project together
with the VAT declaration of the production and business being implemented.
After offsetting, if the remaining
VAT amount of purchased goods, services serving the investment is 200 million
VND or more, this amount is eligible for VAT refund to the investment project.
If the input VAT amount of the production, business and investment project is
lower than 200 million VND and has not been deducted entire after 3 months,
business establishments are eligible for VAT refund as guided in clause 1 of
this Article.
When operating business
establishments subject to VAT payment under the deduction method have new
investment project in the provinces, centrally-run cities different from places
where their head offices are located, the project is in the investment stage,
has not yet operated, has not yet applied for business and tax registration, if
the VAT amount of purchased goods, services serving the investment is 200
million VND or more, they are eligible for the VAT refund to the investment
project. Business establishments must declare and compile tax refund dossiers
separately for this case. The project management unit (if any) shall register,
declare and compile the separate tax refund dossier at local tax agencies
(except for the case when the project management unit located in the same
province or city with their head offices, enterprises shall compile the VAT
refund dossier themselves). When the investment project on establishing
new enterprise is completed and finished all the procedures for business registration,
tax registration, the business establishments being the project investors must
synthesize the arisen, refunded and not refunded VAT of the project to hand
over to the newly-established enterprise so that the enterprise can declare,
pay tax and request for VAT refund as prescribed with tax agency directly
managing it.
4. Business establishments exporting goods, services in the same month of
having goods, services sold domestically, If the input VAT arising in the month
and not yet deducted is VND 200 million or more (the input VAT arising in the
month includes: the input VAT serving for export,
domestic business activities subject to VAT and the remaining deductible VAT of
previous months forwarded), but after offfsetting the output Vat on goods, services
sold domestically and allocating at the rate (%) between revenue of export
goods, services in term with total revenue of goods, services subject to VAT in
the term of business establishments, if the input Vat on export goods,
services allocated as above not yet deducted is less than VND 200 million,
business establishments are not considered to refund tax monthly, if the input
VAT not yet deducted is VND 200 million or more, business establishments are
entitled to refund tax monthly for export goods, services.
Specifying:
The remaining deductible VAT of month
=
Output VAT on goods, services already sold domestically
-
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Input VAT of exports
=
The remaining deductible VAT of month
x
The rate % of revenue from exports / total revenue of
taxable goods and services
Example:
In March,
2012, the VAT declaration of enterprise X has figures:
- VAT of previous term forwarded: VND 0.15 billion.
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- Total revenue is 21.6 billion, of which: revenue
from exports is VND 13.2 billion / total revenue of taxable goods and services
already sold domestically is VND 8.4 billion.
The rate (%)
of revenue from exports / total revenue = 13.2/21.6 x 100% = 61%.
- Output VAT on goods, services already sold
domestically is VND 0.84 billion.
The
refunded-monthly VAT on export goods is determined as follows:
The remaining deductible VAT of month
=
VND 0.84 billion
-
VND (0.15 + 4.8 )
billion
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=
VND - 4.11 billion.
So that the
remaining deductible VAT of month is VND 4.11 billion.
- Determining the input VAT on export goods
Input VAT on
export goods
=
VND 4.11 billion
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61%
=
VND 2.507 billion
The input VAT
of export goods (after offsetting and allocating) not yet deducted entire is
VND 2.507 billion, it is more than (>) 200 million, thus enterprise shall be
refunded VND 2.507 billion for monthly VAT. The input VAT of domestically-sold
goods and services not eligible to be refunded monthly is VND 1.603 billion
(1.603 billion = 4.11 billion – 2.507 billion),it shall be forwarded to the
next period to be further deducted.”
Article 2. Organization
for implementation
1. This Circular takes effect on July 01, 2013.
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3. From March 01, 2012, if
business establishments other than credit institutions has issued invoices and
calculated VAT on interest of providing loans to other organizations,
individuals, parties shall make invoice to correct the interest amount of loans
to become service not subject to VAT. In case where parties fail to
correct the issued invoices, if organizations borrowing and using fund in serve
for business activities subject to VAT, they are entitled to deduct the input
VAT as prescribed on the base of VAT invoice of the loaning party.
4. In case of
contract supplying the digitizing services to foreign parties signed before
this Circular comes into effect, VAT shall be continued to comply with guides
at the respective legal documents at time of signing contract. In case of
contract supplying the digitizing services to foreign parties signed from March
01, 2012 subject to VAT and become subject applying tax rate of 0% as
prescribed in this Circular, this Circular shall be applied from March 01,
2012.
5. Contents that are not guided in this Circular and
contents that are not contrary to contents guided in this Circular shall be
complied with provisions in the Circular No. 06/2012/TT-BTC dated January 11,
2012 of the Ministry of Finance, guiding on value-added tax.
In the course
of implementation, any arising problems should be reported to the Ministry of
Finance for timely guidance and settlement.
FOR THE
MINISTER OF FINANCE
DEPUTY MINISTER
Do Hoang Anh Tuan