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GENERAL
DEPARTMENT OF TAXATION
DEPARTMENT OF TAXATION OF HANOI CITY
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness
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No. 53640/CT-HTr
Re: response to tax policy inquiries
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Hanoi,
August 14, 2015
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To: Web portal of the Ministry of Finance
Department of Taxation of Hanoi
City has received Transfer Note No. 699/PC-TCT dated July 2, 2015 stating
questions of inquirers on the web portal of the Ministry of Finance, in which
an inquirer named Hoang Nhung asked how to write amount on an invoice. Department
of Taxation of Hanoi City hereby gives a response as follows:
- Pursuant to Clause 13, Article 1
of Ordinance on amendments to the Ordinance on Foreign Exchange No.
06/2013/UBTVQH13 dated March 18, 2013:
“13. Article 22 shall be
amended as follows:
“Article 22. Provision
on limited use of foreign exchange
Within the territory of
Vietnam, all transactions, payments, listings, advertisements, quotation,
pricing, writing price on contracts, agreements and other similar forms of
residents and non- residents must not be effected in foreign exchange except
for cases permitted in accordance with regulation of the State bank of
Vietnam.””
- Pursuant to Article 5 of the
Government’s Decree No. 70/2014/ND-CP dated July 17, 2014 on guidelines for the
Ordinance on Foreign Exchange and Ordinance on amendments to the Ordinance on
Foreign Exchange:
“Article 5. Foreign currency
payment and transfer regarding imported and exported goods and services as well
as other current sources
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- Pursuant to point e, clause 2,
Article 16 of Circular No. 39/2014/TT-BTC dated March 31, 2014 of the Ministry
of Finance on guidelines for Decree No. 51/2010/ND-CP dated May 14, 2010 and
Decree No. 04/2014/ND-CP dated January 17, 2014 on invoices related to sale of
goods or service provision, currency on invoices is stipulated as follows:
“e) Currency on invoices
Currency on invoices is Vietnam
dong.
If a seller is permitted to
collect foreign currencies when selling goods, the total amount of payment shall
be foreign currencies, the amount in words shall be written in Vietnamese
language.
Example: USD 10,000 - Mười nghìn
Dô la Mỹ.
The seller must write the
exchange rate on the invoice according to the average exchange rate on
inter-bank foreign exchange market announced by the State bank of Vietnam when
the invoice is issued.
If the foreign currency
collected does not have an exchange rate with Vietnam dong, an exchange rate
between that currency and another foreign currency of which the exchange rate is
announced by the State bank of Vietnam shall be written.
Instructions on issuing sale
invoices in some cases are provided in Appendix 4 enclosed herewith.”
- Pursuant to Circular No.
26/2015/TT-BTC dated February 27, 2015 of the Ministry of Finance on guidelines
for value-added tax and tax administration in Decree No. 12/2015/ND-CP on
guidelines for Law on amendments to Laws on taxation and amendments to Decrees
on taxation and amendments to Circular No. 39/2014/TT-BTC dated March 31, 2014
of the Ministry of Finance on invoices related to sale of goods or service
provision (coming into force as of January 1, 2015):
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“3. If there are revenues,
expenditures, taxable prices in foreign currencies, they must be converted into
VND at the practical exchange rates according to instructions of the Ministry
of Finance in Circular No. 200/2014/TT-BTC dated December 22, 2014 on
corporate accounting practice:
- The practical exchange
rate for revenue statement is the buying rate announced by the commercial bank
where the taxpayer’s account is opened.
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- Instructions of the Ministry
of Finance in Circular No. 200/2014/TT-BTC shall apply to other
particular cases.”
+ In clause 4 Article 4 concerning
guidance on entry into force:
“4. Regulations on list of
invoices, receipts for purchases and sales, and regulations on exchange rates
applied when determining revenues and calculating taxes in the following
documents shall be annulled:
- Circular No. 05/2012/TT-BTC dated
January 05, 2012 of the Ministry of Finance, which provides guidelines for the
Government's Decree No. 26/2009/ND-CP dated March 16, 2009 and Decree No.
113/2011/ND-CP dated December 08, 2011 on elaboration of the Law on special excise
duty.
- Circular
No. 219/2013/TT-BTC dated December 31, 2013 of the Ministry of
Finance on guidelines for the Law on Value-added tax and the Government's
Decree No. 209/2013/ND-CP dated December 18, 2013 on guidelines for the Law on
Value-added tax.
- Circular
No. 156/2013/TT-BTC dated November 06, 2013 of the Ministry of
Finance on guidelines for the Law on Tax administration; the Law on Amendments
to the Law on Tax administration, and the Government's Decree No. 83/2013/ND-CP
dated July 22, 2013.
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ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
- Pursuant to Notice No.
123/TB-TCT dated April 10, 2015 of General Department of Taxation on result of
training conference and responses to certain inquiries in Circular No.
26/2015/TT-BTC dated February 27, 2015 on guidelines for value-added tax, tax
administration and invoices.
Based on above-mentioned
provisions, Department of Taxation of Hanoi City provides a guidance for the
inquirer as follows:
- Since January 1, 2015, in case
the Company of the inquirer is permitted to collect foreign currencies when
selling goods in accordance with the Ordinance on Foreign Exchange and guiding
documents, upon issuing an invoice, the Company shall write the total amount of
payment in foreign currency, in which the amount in words shall be written in
Vietnamese language, and write the buying exchange rate quoted by the
commercial bank where the taxpayer opens the account following the guideline in
clause 4 Article 2 of Circular No. 26/2015/TT-BTC.
- Other inquiries shall be
submitted to supervisory tax authority for further responses.
PP. DIRECTOR
DEPUTY DIRECTOR
Mai Son