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THE
MINISTRY OF FINANCE
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No.
45/2009/TT-BTC
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Hanoi,
March 11, 2009
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CIRCULAR
GUIDING
VALUE-ADDED TAX, ROYALTIES AND BUSINESS INCOME TAX FOR HYDROPOWER GENERATION ESTABLISHMENTS
Pursuant to November 29, 2006
Law No. 78/2006/QH11 on Tax Administration; and the Government’s Decree No.
85/2007/ND-CP of May 25, 2007, detailing the implementation of a number of
articles of the Law on Tax Administration;
Pursuant to June 3, 2008 Law No. 13/2008/QH12 on Value-Added Tax; and the
Government’s Decree No. 123/2008/ND-CP of December 8, 2008, detailing and
guiding the implementation of a number of articles of the Law on Value-Added
Tax;
Pursuant to June 3, 2008 Law No. 14/2008/QH12 on Business Income Tax; and the
Government’s Decree No. 124/2008/ND-CP of December 11, 2008, detailing the
implementation of a number of articles of the Law on Business Income Tax;
Pursuant to the April 16, 1998 Ordinance on Royalties (amended), the Ordinance
Amending and Supplementing Article 6 of the Ordinance on Royalties; and the
Government’s Decree No. 05/2009/ND-CP of January 19, 2009, detailing the
implementation of the Ordinance on Royalties and the Ordinance Amending and
Supplementing Article 6 of the Ordinance on Royalties;
Pursuant to the Government’s Decree No. 118/2008/ND-CP of November 27, 2008,
defining the functions, tasks, powers and organizational structure of the
Ministry of Finance;
The Ministry of Finance guides the declaration and payment of value-added tax,
royalties, and business income tax for hydropower generation establishments as
follows:
Article 1.
Scope of application
This Circular
guides value-added tax (VAT), royalties, and business income tax (BIT) for
hydropower generation establishments, including companies engaged in hydropower
generation under or not under the Electricity of Vietnam (EVN).
Article 2.
On VAT
1.
Determination of payable VAT amounts
1.1.
Hydropower generation establishments shall determine their payable VAT amounts
by the credit method provided in the VAT Law and guiding documents.
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Payable
VAT amount for power generation operation
=
Output
VAT amount
-
Creditable
input VAT amount
The output
VAT amount is determined by the following formula:
Output
VAT amount
=
Power
output
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Taxed
price
x
VAT
rate (10%)
In which:
- Power output
is that delivered and received according to electricity meters as certified by
the hydropower company and the power transmission company or the power trading
company.
- Taxed price
is fixed at 60% of the average commodity power selling price applied in the
previous year and exclusive of VAT. In case the average commodity power selling
price applied in the previous year is not yet identified, the temporary price
announced by EVN will be used but must not be lower than the average commodity
power selling price of the year preceding the previous year. When the average
commodity power selling price applied in the previous year is identified, the
difference shall be declared for adjustment in the declaration period of the
month when the official price is identified.
The average
commodity power selling price of a year shall be determined no later than March
31 of the subsequent year.
For example:
If the average commodity power selling price of 2008 was VND 866/kWh and
exclusive of VAT, the taxed price of 2009 (under the above guidance) will be
VND 519.6 (= VND 866 x 60%).
The input VAT
amount for power generation operation shall be credited based on value-added
invoices of purchased goods and services of the hydropower company.
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2.1.
Hydropower generation establishments defined at Point 1.1, Clause 1 of this
Article shall make VAT declaration in localities where they are headquartered
and pay VAT to treasuries in localities where their hydropower plants
(including turbines, spillways and major physical facilities) are located. In
case a hydropower plant (including turbine, spillway and major physical
facilities) is located in two neighboring provinces, the VAT amount payable by
this establishment shall be equally divided to the two provinces.
A hydropower
generation establishment shall submit its VAT declaration dossier to the tax
office of the locality where it has registered tax declaration and send a copy
of its VAT return to the tax office of the neighboring localities which shares
the hydropower plant for monitoring.
2.2. For
dependent accounting hydropower companies of EVN: These companies shall make
VAT declaration in localities where they are headquartered according to the VAT
return form applicable to dependent-accounting establishments of EVN
promulgated together with this Circular (not printed herein) and concurrently
send copies of their VAT returns to tax offices of localities sharing a
hydropower plant (if any) and pay VAT to treasuries of these localities. In
case a hydropower plant (including turbine, spillway and principal physical
facilities) is located in two neighboring provinces, the VAT amount payable by
the dependent-accounting hydropower company of EVN shall be equally divided to
the two provinces.
VAT amounts
paid by dependent-accounting hydropower companies of EVN (based on payment
documents) shall be regarded as EVN’s input VAT amounts which EVN may declare
for credit under regulations.
2.3.
Procedures for sending documents
Hydropower
generation establishments shall pay VAT into the state budget under
regulations. In case a hydropower generation establishment is a company having
a hydropower plant (including turbines, spillway and principal physical
facilities) located in two or more provinces, it shall pay VAT to the state
treasury of the locality where it has registered tax declaration (or the
locality where it is headquartered) and concurrently pay VAT to the
treasury(ies) of the locality(ies) entitled to VAT revenues. Tax payment
documents shall be made separately for each state treasury and must clearly
indicate state budget revenue accounts of the localities which share the
hydropower plant or are entitled to VAT revenues.
2.4. VAT
declaration and payment in some specific cases:
2.4.1. The
Hoa Binh Hydropower Company (a dependent-accounting unit of EVN) which has its
head office and the Hoa Binh Hydropower Plant in the same locality, Hoa Binh
province, shall make VAT declaration and payment in Hoa Binh province.
2.4.2. The
Tri An Hydropower Company (a dependent-accounting unit of EVN) which has its
head office and has Tri An Hydropower Plant in the same locality, Dong Nai
province, shall make VAT declaration and payment in Dong Nai province.
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The Yaly
Hydropower Company shall make VAT declaration in Gia Lai province with its VAT
amount divided as follows:
+ The VAT
amount of the Yaly hydropower plant and Sesan 3 hydropower plant shall be
equally paid by the Yaly Hydropower Company to Gia Lai and Kon Tum provinces
(50% for each province).
+ The whole
VAT amount of the Pleikrong hydropower plant shall be paid by the Yaly
Hydropower Company to Kon Tum province.
2.4.4. The
Dai Ninh Hydropower Company (a dependent-accounting unit of EVN) which has its
head office in Lam Dong province and the Dai Ninh hydropower plant in Binh Thuan
province and the hydropower spillway in Lam Dong province shall make VAT
declaration in Lam Dong province. The VAT amount of the Dai Ninh hydropower
plant shall be equally paid to Binh Thuan and Lam Dong provinces (50% for each
province).
2.4.5. The Sesan
3A Power Development Investment Joint-Stock Company, a unit outside EVN, which
has head office in Gia Lai province and the Sesan 3A hydropower plant in both
Gia Lai and Kon Tum provinces, shall make VAT declaration in Gia Lai province
and pay VAT amounts of the Sesan 3A hydropower plant equally to Gia Lai and Kon
Tum provinces (50% for each province).
Article 3.
On royalties
1. Hydropower
generation establishments shall make royalties declaration and pay royalties
for natural water used for hydropower generation based on the power output
loaded on transmission lines in the declaration period, royalties calculation
prices and rates.
Royalties
amount payable in a tax period is determined as follows:
Royalties
amount payable in the period
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Power
output loaded on transmission lines in the declaration period
x
Royalties
calculation price
x
Royalties
rate
In which:
- Power
output loaded on transmission lines in the declaration period means a power output
delivered and received according to electricity meters as certified by the
hydropower company and the power transmission company or the power trading
company.
- Royalties
calculation price for natural water used for hydropower generation means the average
commodity power selling price.
The average
commodity power selling price used for royalties calculation for hydropower
generation establishments shall be announced by the Ministry of Finance in
January every year.
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2. Royalties
declaration and payment
2.1.
Hydropower generation establishments shall make royalties declaration and pay
royalties in localities where they have registered for royalties declaration
and payment according to the royalties return form set for hydropower
generation establishments provided in this Circular.
In case the
royalties amount of a hydropower generation establishment is divided to different
localities, this hydropower generation establishment shall submit a royalties
declaration dossier to the tax office of the locality where it has registered
for royalties declaration (or where it is headquartered) and make and send
copies of this dossier to tax offices of localities which are entitled to the
royalties revenue.
2.2.
Procedures for sending of royalties payment documents between state treasuries
and tax offices comply with the guidance of Point 2.3, Article 2 of this
Circular.
3. The royalties
declaration and payment in some specific cases:
3.1. The Hoa
Binh Hydropower Company (a dependent accounting unit of EVN): The royalties
amount paid by the Hoa Binh Hydropower Company shall be divided equally to Hoa
Binh and Son La provinces (50% for each province).
3.2. The Tri
An Hydropower Company (a dependent-accounting unit of EVN) shall make royalties
declaration and payment in Dong Nai province.
3.3. The Yaly
Hydropower Company (a dependent-accounting unit of EVN) shall pay royalties for
its hydropower plants as follows:
- The
royalties amount of the Yaly hydropower plant shall be paid to Kon Tum province
(70%) and Gia Lai province (30%).
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+ The whole
royalties amount of the Pleikrong hydropower plant shall be paid to Kon Tum
province.
3.4. The Dai
Ninh Hydropower Company (a dependent-accounting unit of EVN) shall pay the
royalties amount of the Dai Ninh hydropower plant in Lam Dong province.
3.5. The
Sesan 3A Power Development Investment Joint-Stock Company, a unit outside EVN,
which is headquartered in Gia Lai province, shall pay the royalties amount
equally to Gia Lai and Kon Tum provinces (50% for each province).
3.6. The Da
Nhim – Ham Thuan – Da Mi Hydropower Company, which has its head office in Lam
Dong province and 2 hydropower plants:
- The Ham
Thuan – Da Mi hydropower plant: the royalties amount for this plant shall be
paid equally by the Da Nhim – Ham Thuan – Da Mi Hydropower Company to Lam Dong
and Binh Thuan provinces (50% for each province).
- The Da Nhim
hydropower plant: The Da Nhim – Ham Thuan – Da Mi Hydropower Company shall
declare and pay 100% of the royalties amount to Lam Dong province.
Article 4.
On business income tax (BIT)
1. Principles
for BIT determination
Independent-accounting
hydropower companies shall pay BIT in localities where they are headquartered.
Independent-accounting hydropower companies which have dependent-accounting hydropower
generation establishments operating in provinces or centrally run cities other
than localities where they are headquartered; dependent-accounting hydropower
generation establishments of parent companies within EVN (including
dependent-accounting hydropower companies and dependent hydropower plants)
which are headquartered in provinces or centrally run cities other than the
locality where EVN is headquartered shall calculate and pay their BIT amounts
in localities where they are headquartered and where their dependent-accounting
hydropower generation establishments are located.
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2.1. BIT
amounts to be calculated and paid in provinces or centrally run cities where
dependent-accounting hydropower units are located are BIT amounts payable in
the period multiplied by (x) the ratio of expenditures of dependent-accounting
hydropower generation establishments to total expenditures of the enterprises.
Independent-accounting
hydropower companies and parent companies within EVN shall determine by
themselves the ratio of expenditures of their dependent-accounting hydropower
generation establishments to those of their head offices based on BIT
finalization figures in 2008 and this ratio shall be used stably from 2009 on.
In case operating units establish new dependent-accounting hydropower
generation establishments in localities or reduce existing ones, they shall
re-determine by themselves the expenditure ratio for each specific case and use
it for subsequent tax declaration periods.
2.2.
Independent-accounting hydropower companies and parent companies within EVN
shall make BIT declaration for income tax amounts arising in their head offices
and dependent-accounting units according to BIT forms set for enterprises
having dependent accounting hydropower units. Based on BIT amounts calculated
and paid on a quarterly basis and the expenditure ratio of dependent-accounting
units, independent-accounting hydropower companies and parent companies within EVN
shall determine BIT amounts to be temporarily paid for each quarter by their
head offices and dependent-accounting units.
3. Procedures
for transfer of documents between the treasury and tax offices
Independent-accounting
hydropower companies and parent companies within EVN shall pay BIT arising in
localities where they are headquartered to state treasuries at the same level
with tax offices where they have registered for tax declaration and
concurrently pay BIT amounts on behalf of their dependent hydropower generation
establishments in localities. Tax payment documents shall be made separately
for each state treasury, clearly indicating the state budget revenue account of
the locality where the hydropower plant is located or which is entitled to the
revenue.
4. Tax
finalization
Independent-accounting
hydropower companies and parent companies within EVN shall make BIT declaration
and finalization in localities where they are headquartered. Their BIT amounts
remaining to be paid are equal to payable BIT amounts already finalized minus
BIT amounts already temporarily paid in localities where they are headquartered
and where their dependent units are located. BIT amounts remaining to be paid
(surplus or deficit) shall be finalized and paid or refunded in localities
where these companies are headquartered.
In case a
difference (surplus or deficit) arises in the course of BIT inspection and
finalization, BIT amounts (surplus or deficit) shall be paid in localities
where companies are headquartered and are not required to be allocated to
localities where their dependent-accounting generation establishments are
located.
Article 5.
Organization of implementation
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- For VAT and
royalties: This Circular applies from the tax declaration period of January
2009. In case hydropower generation establishments have made VAT and royalties
declaration for the tax declaration period of January 2009 not in compliance
with this Circular’s guidance, these establishments shall make adjusted
declarations in compliance with this Circular’s guidance and will not be fined
for late payment.
- For BIT:
This Circular applies from the BIT declaration period of the first quarter of
2009.
2. Any
difficulties or problems arising in the course of implementation should be
promptly reported to the Ministry of Finance for timely settlement.-
FOR
THE MINISTER OF FINANCE
DEPUTY MINISTER
Do Hoang Anh Tuan