|
MINISTRY
OF FINANCE
-------
|
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
---------
|
|
No.
07/TC-TCT
|
Hanoi,
March 30th, 1992
|
CIRCULAR
GUIDING
THE IMPLEMENTATION OF TAX OBLIGATIONS WITH REGARD TO FOREIGN SUB-CONTRACTOR
DOING BUSINESS IN PETROLEUM PRODUCT SHARING CONTRACT IN VIETNAM
Based on the existing tax
laws and decrees in Vietnam and on the Law on foreign Investment in Vietnam,
the Ministry of finance temporarily enforces the following tax policies on
foreign sub-contractor who runs a business involving activities in petroleum
product-sharing-contract in Vietnam:
I. Scope of application
- All the regulations in this
Circular are to be applied to foreign organizations and individuals who work as
sub-contractors in petroleum product-sharing-contract according to the Law on
foreign Investment in Vietnam.
- If the Socialist Republic of
Vietnam and the countries where the sub-contractor come from have signed
Agreements concerning the regulations in this Circular those Agreements will
prevail.
II. Definitions
In this Circular, the terms will
be regarded as follows:
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
2. "Sub-contractor" is
a foreign economic organization or individual who signs a contract with the
contractor to carry out a part of the contractor's assignment in the petroleum
product-sharing-contract in accordance with the Law on foreign Investment in
Vietnam.
3. "Petroleum
product-sharing-contract" is the document signed between PetroVietnam and
the contractor to carry out petroleum activities in accordance with the Law on
foreign Investment in Vietnam.
III. Types of tax applied
Based on the existing laws and
decrees, the sub-contractor has the responsibility to pay the following types
of tax:
1. Turnover Tax;
2. Corporate Income Tax;
3. Personal Income Tax;
4. Import-Export Tax; and
5. Other Taxes.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
1. All taxes mentioned in part
III of this Circular are applied only to revenues, corporate income and
personal income originated in Vietnam from the contract between the contractor
and the sub-contractor.
2. To facilitate assessment and
payment of turnover tax and corporate income tax, these two types of tax are
jointly assessed by multiplying the value of each field of contractor with the
percentage of tax given below:
Fields tax rates
a. Drilling ship service 4%
b. Carota service 4%
c. Technical service on drilling
frame 4%
d. Services of seismic vessel
and site survey vessel 4%
e. Services of supplying
materials, chemical products and labor forces
- In which services of bit, pipe
and casing 8% 4%
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
For a package contract that
covers more than one field, the rate for the field in which the value of that
part of the contract accounts for more than 50% of the total value of the
contract shall be applied.
3. For Personal Income Tax
applicable to employees having high income, the Decree on Personal Income Tax
and the related guidance notes of the Ministry of finance shall be applied.
4. For Import-Export tax, the
Law in Import-Export tax shall be applied.
5. For other types of tax, the
existing regulations shall be applied.
V. Organization for
implementation
1. Taxpayers:
PetroVietnam (Tong Cong ty Dau
khi Viet Nam) is the unit which is authorized by the Ministry of finance to
withhold all types of tax stipulated in this Circular and then pay over to the
State budget. Sub-contractors are taxpayers stipulated in this Circular.
2. Procedures for filling and
paying taxes:
a/ With regard to turnover tax
and corporate income tax (jointly assessed in one amount as stated in paragraph
IV.2 of this Circular):
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
- Within 5 days of receiving the
copy of the contract, PetroVietnam has to send the copy of the contract (in
Vietnamese) and the tax return to the local tax authority where PetroVietnam
has its main office.
- Within 3 days of receiving the
copy of the contract and the tax return, the local tax authority has to make a
tax notice to PetroVietnam.
- Bases on this notice, within 3
days, PetroVietnam has to notify the contractor the amount of tax due.
- Within 10 days of receiving
the notice from PetroVietnam, the Contractor has to withhold and pay the amount
of tax to PetroVietnam before remitting the payment to sub-contractor.
- On the last day of each month,
PetroVietnam has to pay the total amount of taxes collected in the month to
State budget.
b/ Personal Income Tax
- Based on each contract signed
between the contractor and the sub-contractor, the former has to inform
PetroVietnam of the number of Vietnamese employees as well as foreign employees
working for the sub-contractor and the personal income of each employe e in the
working period.
- Based on this notification,
within 2 days, PetroVietnam has to inform the local tax authority (where
PetroVietnam has its main office) with tax return.
- Within 2 days of receiving the
notice and the tax return, the local tax authority has to assess and send a tax
notice to PetroVietnam, including the amount of tax due.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
- PetroVietnam has to pay the
whole amount of taxes already collected to the State budget every month.
c/ Import-Export tax and other
types of tax:
- The existing regulations shall
be applied.
3. The total amount of tax due
stipulated in this Circular is considered recoverable expenditures of the
contractor in the petroleum product-sharing-contract between PetroVietnam and
contractor.
VI. Penalties and rewards
1. The handling of violations
against the regulations in this Circular will be based on existing regulations.
2. PetroVietnam will be entitled
to a commission of 0.5% on the amount of tax paid to the State budget.
This Circular has effect to all
product-sharing-contracts signed after July 1, 1991. If there is any difficulty
in implementing this Circular, the Ministry of finance should be informed in
time so that guidance or addition or amendment will be provided, if necessary.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
FOR
MINISTRY OF FINANCE
VICE MINISTER
Phan Van Dinh