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OFFICE OF THE NATIONAL ASSEMBLY OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No. 01/VBHN-VPQH
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Hanoi, April 28, 2016
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LAW
VALUE-ADDED TAX
Law No. 13/2008/QH12
dated June 03, 2008 of the National Assembly on Value-Added Tax, which comes
into force from January 01, 2009 is amended by:
1. Law No. 31/2013/QH13
dated June 19, 2013 of the National Assembly on amendments to the Law on
Value-Added Tax, which comes into force from January 01, 2014;
2. Law No. 71/2014/QH13
dated November 26, 2014 of the National Assembly on amendments to Tax Laws,
which comes into force from January 01, 2015;
3. Law No. 106/2016/QH13
dated April 06, 2016 of the National Assembly on amendments to some Articles of
the Law on Value-Added Tax, the Law on Special Excise Duty, and the Law on Tax
Administration, which comes into force from July 01, 2016.
Pursuant to the 1992
Constitution of Socialist Republic of Vietnam amended by Resolution No.
51/2001/QH10;
The National Assembly
promulgates the Law on Value-Added Tax 1.
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GENERAL PROVISIONS
Article 1. Scope
This Law provides for
taxable goods and services, goods and services that are not subject to VAT,
taxpayers, tax basis and methods for tax calculation, VAT deduction and refund.
Article 2. Value-added
tax
Value-added tax means tax
imposed on the added value of goods or services arising during the process from
production, circulation to consumption.
Article 3. Taxable
goods and services
Goods and services used
for production, trade or consumption in Vietnam are subject to value-added tax,
except for those specified in Article 5 of this Law.
Article 4. Taxpayers
Taxpayers are
organizations and individuals that produce or trade in taxable goods or
services (herein referred to as “business establishments”), and organizations
and individuals that import taxable goods (herein referred to as “importers”).
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1.2 Farming, breeding,
aquaculture produces that have not been processed into other products or have
only been preliminary processed by manufacturers or catchers when they are sold
and imported.
Enterprises and
cooperatives buying farming, breeding, aquaculture produces that have not been
processed into other products or have only been preliminary processed and
selling them to other enterprises or cooperatives are not required to declare
and pay VAT but may deduct input VAT.
2. Products which are
animal breeds and plant varieties, including breeding eggs, breeding animals,
seedlings, seeds, sperms, embryos and genetic materials.
3. Irrigation and
drainage; soil ploughing and harrowing; dredging of intra-field canals and
ditches for agricultural production; harvesting of farm produce.
3a. 3 Fertilizers,
specialized machinery and equipment serving agricultural production; offshore
fishing vessels; feed for cattle, poultry, and other animals.
4.4 Salt products made of
seawater, natural rock salt, refined salt, iodized salt of which the primary
constituent is sodium chloride (NaCl).”
5. State-owned houses
sold by the State to current tenants.
6. Transfer of land use
rights;
7.5 Life insurance,
health insurance, insurance for students, other insurances related to humans,
insurance for animals, insurance for plants, other agricultural insurances;
insurance for boats, ships, and other equipment necessary for fisheries;
reinsurance.
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a) Credit extension
services, including loaning, discounting or rediscounting negotiable
instruments and other valuable papers; guarantee; finance lease; issuance of
credit cards; domestic factoring; international factoring; other credit
services according to law;
b) Loaning services
provided by taxpayers that are not credit institutions;
c) Securities services,
including securities brokerage; proprietary trade in securities; securities
issuance guarantee; securities investment consultancy; securities depository;
management of securities investment fund; management of securities investment
portfolio; market organization services of Stock Exchanges or Securities
Trading Centers; other securities services according to the laws on securities;
d) Capital transfer,
including transfer of part or the whole invested capital, sale of an enterprise
to another enterprise for production, trade and transfer of securities; other
forms of capital transfer according to law.
dd) Selling debts;
e) Trading in foreign
currencies;
g) Derivative financial
services, including swapping interest rates; forward contracts, futures
contracts, foreign-exchange options; other derivative financial services
according to law;
h) Selling collateral for
loans taken by organizations of which 100% of charter capital is possessed by
the State, which are established by the Government to settle bad debts of
Vietnamese credit institutions.
9.7 Health services and
veterinary medicine services, including medical examination and treatment
services for human and animals; care services for elderly people and disabled
people.
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11.8 Maintenance of zoos,
parks, urban trees, public lighting; funeral services.
12. Maintenance, repair,
and construction funded by the people, humanitarian aid for cultural and
artistic works, public works, infrastructure, and housing for beneficiaries of
incentive policies.
13. Education and
vocational training as prescribed by law.
14. Audio and video
broadcasting funded by state budget.
15.9 Publishing, import
and issuance of newspapers, magazines, academic journals, political books, text
books, law books, science – technology books, books in ethnic languages, and
propagating pictures and banners, including audio, video tapes, discs, or
computer files; money, money printing.”
16. Public transport by
bus and tram.
17.10 Machinery,
equipment, parts, and materials that cannot be produced at home and need to be
imported to serve scientific research, technological development; machinery,
equipment, parts, specialized vehicles, and materials that cannot be produced
at home and need to be imported to serve petroleum exploration; airplanes, oil
rigs, and ships that cannot be produced at home and must be imported to form
fixed assets, or need to be hired from foreign partners to serve production, business,
or to lease back.
18. Weapons and
specialized vehicles serving national defense and security.
19.
Goods imported as humanitarian aid or non-refundable aid; gifts for regulatory bodies, political
organizations, socio-political organizations, socio-political-professional
organizations, social organizations, socio-professional organizations and the
army; gifts for individuals in Vietnam within quotas as prescribed by the Government;
belongings of foreign entities provided with diplomatic immunity prescribed by
the laws on diplomatic immunity; belongings in luggage within tax-free
allowance;
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20. Goods forwarded
through Vietnam’s territory; goods temporarily imported or temporarily
exported; raw materials imported for manufacturing or export processing under
contracts with foreign partners; goods and services traded between a foreign
party and a free trade zone, or among free trade zones.
21. Technology transfer
according to the Law on Technology Transfer; intellectual property right
transfer according to the Law on Intellectual Property; computer software.
22. Imported gold in the
form of bullions or pieces that are not fashioned into jewelry or other items.
23.11 Exports that are
raw natural resources or minerals which have not been processed into other
products; exports that are goods processed from natural resources or minerals
where the total value of natural resources or minerals plus energy costs makes
up at least 51% of the product price.
24. Prosthetic body
parts, including those permanently implanted into the human body; crutches,
wheelchairs, and other special instruments serving the disabled.
25.12 Goods and services
provided by business households and individuals that earn annual revenue of
less than 100 million VND.
Business establishments
that sell goods and services not subject to VAT in this Article shall not
deduct input VAT or receive input VAT refund, except for the cases to which the
tax rate of 0% applies according to Clause 1 Article 8 of this Law.”
Chapter II
TAX BASIS AND TAX CALCULATION METHOD
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Tax basis is taxable
prices and tax rates.
Article 7. Taxable
prices
1. Taxable prices are
regulated as follows:
a) 13 Taxable prices of
goods and services sold by manufacturers/business establishments are
VAT-exclusive prices; taxable prices of goods and services subject to special
excise duty are prices inclusive of special excise duty and exclusive of VAT;
taxable prices of goods subject to environmental protection tax are prices
inclusive of environmental protection tax and exclusive of VAT; taxable prices
of goods subject to special excise duty and environmental protection tax are
prices inclusive of special excise duty and environmental protection tax and
exclusive of VAT;
b) 14 Taxable prices of
imported goods are prices at the border checkpoint plus import tax (if any)
plus special excise duty (if any) plus environmental protection tax (if any).
Import prices at the border checkpoint shall be determined in accordance
with regulations on taxable prices of imported goods;
c) Taxable prices of
goods and services used for barter, internal use or donation are taxable prices
of the same kinds or equivalent goods and services at the same time.
d) 15 Taxable prices of
the lease of property are rents exclusive of VAT.
If the rent is paid in
instalments or paid in advance for a certain period of time, the taxable price
is the instalment or the advanced payment exclusive of VAT;
dd) Taxable price of a
commodity paid for by instalments is the original price exclusive of VAT and
interest;
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g) Taxable prices of
construction and installation are VAT-exclusive values of the completed
constructions or works. If the price is exclusive of building
materials, machinery, or equipment, the taxable price is
the construction price exclusive of building materials, machinery, or
equipment.
h) In case of real estate
trading, the taxable price is the real estate-selling price exclusive of VAT
minus (-) the price of transfer of land use rights or the land rent payable to
state budget;
i) VAT-exclusive commissions
for running an agent or brokering the sale of goods/services are taxable
prices.
k) Taxable prices of
goods and services using special receipts on which selling prices are
VAT-inclusive shall be determined as follows:
VAT-exclusive price
=
Selling price
1 + tax rate (%)
2.
Taxable prices of goods and services mentioned in Clause 1 of this
Article include surcharges payable to business establishments.
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Article 8. Tax rate
1. 17 The tax rate
of 0% is applicable to exported goods and services, international transport,
goods and services that are not subject to VAT according to Article 5 of this
Law when they are exported, except for the cases below:
a) Transferring technologies
or transferring intellectual property rights abroad;
b) Reinsurance abroad;
c) Credit extension
services;
d) Capital transfer;
dd) Derivative financial
services;
e) Telecommunications and
postal services;
g) 18 Exported products
specified in Clause 23 Article 5 of this Law.
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2. The tax rate of 5% is
applicable to:
a) Clean water serving
manufacture and everyday life;
b) 19 Ores for production
of fertilizers; pesticides, and growth stimulants for animals, plants;
c) 20 (Annulled)
d) Dredging of channels,
canals, ponds and lakes for agricultural production; plant cultivation; preprocessing
and preservation of agricultural products;
dd) Farming, breeding,
aquaculture products that are unprocessed, except for those specified in Clause
1 Article 5 of this Law;
e) Preliminarily
processed rubber latex; preliminarily processed turpentine; nets, main ropes
and fibers used to make fishing-nets;
g) Fresh food;
unprocessed forestry products, except for wood, bamboo sprouts, and products
specified in Clause 1 Article 5 of this Law.
h) Sugar; by-products
during the process of sugar manufacture including molasses, bagasse and sludge;
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k) 21 (Annulled)
l) Medical equipment;
medical cotton and bandage; preventive and curative medicine;
pharmaco-chemistry products and pharmaceuticals used as raw materials for the
production of curative and preventive medicines;
m) Teaching and learning
aids, including models, figures, boards, chalk, rulers, compasses, and
equipment and tools exclusively used for teaching, research and scientific
experiments;
n) Cultural activities,
exhibition, physical training and sports activities; art performances; film production;
film import, distribution and screening;
o) Children toys; books
of all kinds, except for books specified in Clause 15, Article 5 of this Law;
p) Scientific and
technological services according to regulations of the Law on Science and
Technology;
q) 22 Sale, lease, and
lease-purchase of social housing according to the Law on Housing.
3. 10% tax shall be
levied on goods and services that are not mentioned in Clause 1 and Clause
2 of this Article.
Article 9. Tax
calculation method
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Article 10. Tax
deduction method 23
1. VAT shall be deducted
as follows:
a) The amount of VAT
payable by deduction method is equal to the amount of output VAT minus the deductible
input VAT;
b) The amount of output
VAT is equal to the total VAT on sold goods and services, written on the VAT
invoice.
VAT on sold goods and
services written on the VAT invoice is equal to the taxable prices of goods and
services multiplied by the rate of VAT on such goods and services.
If the paid price written
on the invoice is inclusive of VAT, the output VAT shall equal the paid price
minus VAT defined in Point k Clause 1 Article 7 of this Law;
c) The amount of
deductible input VAT is equal to the total amount of VAT written on the VAT
invoice, the VAT bill of imported goods, and must satisfy the conditions in
Article 12 of this Law.
2. The deduction method
is applicable to business establishments that comply with the regime for
accounting and invoices according to laws on accounting and invoices. To be
specific:
a) Business
establishments that earn annual revenue of at least 1 billion VND from goods
sale, except for business households and individuals;
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3. The Government shall
elaborate this Article.
Article 11.
Method of direct calculation on value added 24
1. The amount of VAT
payable according to direct calculation on value added is equal to the value
added multiplied by the rate of VAT on the trade and craft of gold, silver, and
gems.
Value added of gold,
silver and gems shall be equal to the sale prices of the gold, silver and gems
minus the purchase prices of gold, silver and gems.
2. Application of VAT
according to direct calculation on value added, which equals to the percentage
multiplied by revenue:
a) Subjects of
application:
- Enterprises and
cooperatives of which the annual revenue is less than 1 billion VND, except for
enterprises and cooperatives that voluntarily adopt the deduction method
according to Clause 2 Article 10 of this Law;
- Business households and
individuals;
- Foreign organizations
and individuals that do not have permanent establishments in Vietnam but earn
revenues in Vietnam and do not comply with the regime for accounting and
invoices, except for foreign organizations and individuals that provide goods
and services to serve petroleum exploration and extraction and have their tax
deducted and paid by the Vietnamese party;
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b) Percentage (%) for
calculating VAT:
- Goods supply and
distribution: 1%;
- Construction without
materials: 5%;
- Production, transport
and services in association with goods/construction including materials: 3%;
- Other business
activities: 2%.
Chapter III
VAT DEDUCTION AND REFUND
Article 12. Deduction
of input VAT 25
1. Business
establishments that pays VAT using the deduction method shall deduct the input
VAT as follows:
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b) Regarding goods and
services used for the production and sale of both taxable and non-taxable goods
and services, only input VAT on the goods and services used for the production
and sale of taxable goods and services is deductible. Deductible input
VAT must be separated from non-deductible VAT; if they are not separated, the
deductible input VAT shall be calculated by the percentage of revenue from
goods and services subject to VAT to the total revenue from sold goods and
services;
c) Input VAT on goods and
services sold to organizations and individuals that use humanitarian aid or
non-refundable aid is completely deductible;
d) Input VAT on goods and
services used for petroleum exploration and extraction is completely
deductible;
dd) Input VAT that arises
in a month shall be declared and deducted when calculating the tax payable in
that month. When business establishment finds that the input VAT is declared or
deducted incorrectly, it may be rectified before the tax authority issues a
decision on tax inspection at the premises.
2. Required papers for
input VAT deduction:
a) Sale invoices or
receipts of tax payment at the importation stage;
b) There are receipts of
non-cash payments for purchased goods and services, except for the purchases
below 20 million VND;
c) Required papers for
exported goods and services apart from the papers in Point a and Point b of
this Clause: a contract signed with a foreign partner to sell, process goods or
provide services; sale invoices; receipts of non-cash payments; customs
declarations of exported goods.
The payment for exported
goods and services by offsetting the exported goods and services against the
imported goods and services and repayment of debts on behalf of the State is
considered as non-cash payments.”
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1. 27 A business
establishment that pays VAT using the deduction method may offset input VAT
that remains after deduction in the month or the quarter against VAT incurred
in the next period.
Where a business
establishment that has registered to pay VAT using the deduction method has a
new investment project which is still in its investment stage, VAT on
goods/services purchased serving the investment has not been deducted, and the
remaining tax is at least VND 300 million, VAT shall be refunded.
The VAT that has not been
deducted shall not be refunded and instead be carried forward to the next
period in the following cases:
a) The investment project
does not have adequate charter capital as registered; engages in conditional
business lines while the corresponding conditions have not been fully satisfied
as prescribed by the Law on Investment or the fulfillment of such conditions is
not maintained throughout its operation;
b) The project is a
natural resource extraction project or mineral extraction project licensed from
July 01, 2016 or a manufacture project where the total value of natural
resources or minerals plus energy costs makes up at least 51% of the product
price.
The Government shall
regulate this Article.
2. 28 A business
establishment whose exported goods/services incur an input VAT of at least VND
300 million which has not been deducted in the month or quarter shall receive
VAT refund for that month or quarter, unless such goods are imported for
exportation or exports are not exported within a customs controlled area as
prescribed by the Law on Customs. Inspection after refund shall apply to
any manufacturer of exports that does not violate regulations of law on
taxation or customs for two consecutive years; any taxpayer that is not
considered high-risk as prescribed by the Law on Tax administration.
3. The business
establishment that pays VAT using the deduction method shall receive a refund
of the surplus VAT or the VAT that is not completely deducted when the
ownership is change, or when the enterprise is converted, merged, amalgamated,
divided, dissolved, bankrupt, or shut down.
4. Foreigners and
Vietnamese people residing abroad who have passports or entry papers issued by
foreign competent authorities shall receive refunds of tax on goods purchased
in Vietnam and brought abroad.
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a) The leader of the
program/project or the main contractor, the organization appointed by the
foreign sponsor to manage the program/project shall receive a refund of VAT on
the goods and services purchased in Vietnam to serve the program/project;
b) The organizations in
Vietnam that use non-refundable aid or humanitarian aid provided by foreign
organizations and individuals to purchases goods and services to serve the program/project
shall receive refund of the tax on such goods and services.
6. A person eligible for
diplomatic immunity who purchases goods and services in Vietnam shall receive a
refund of the VAT on the VAT invoice or the receipt that indicates the VAT-inclusive
price.
7. Business
establishments that receives the decisions on VAT refunds from competent
authorities, and the cases of VAT refunds according to the International
Agreements to which the Socialist Republic of Vietnam is a signatory.”
Article 14. Invoices
and receipts
1. Goods and service
purchase and sale shall be accompanied by invoices and receipts according to
law and the following regulations:
a) Business
establishments which pay VAT using the deduction method shall use VAT invoices;
such invoices shall be filled in fully and properly and all surcharges (if any)
shall be included in these invoices. In case goods or services subject to
VAT are sold with a VAT invoice that does not indicate VAT, the output VAT
shall be equal to the selling prices indicated in the invoice multiplied by the
rate of VAT, except cases specified in Clause 2 of this Article;
b) Business
establishments which pay VAT using the method of direct calculation on value
added shall use sale invoices.
2. Regarding stamps and tickets
which are receipts pre-printed with selling prices, those prices are inclusive
of VAT.
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IMPLEMENTATION PROVISIONS 29
Article 15. Entry into
force
1. This Law comes into
force from January 01, 2009.
2. This Law replaces:
a) The 1997 Law on
Value-added tax;
b) The Law No.
07/2003/QH11 on amendments to some Articles of the Law on Value-added tax;
3. Article 2 of the Law
No. 57/2005/QH11 on amendments to some Articles of the Law on Special Excise
Duty and the Law on Value-added tax shall be annulled.
Article 16.
Implementation guideline
The Government shall
elaborate and provide guidance on Articles 5, 7, 8, 12 and 13 and other
necessary contents of this Law to meet management requirements./.
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CERTIFIED BY
CHAIRMAN
Nguyen Hanh Phuc
1 The Law No. 31/2013/QH13
on amendments to some Articles of the Law on Value-added tax is promulgated
pursuant to:
“The 1992 Constitution
of Socialist Republic of Vietnam amended by Resolution No. 51/2001/QH10;
The National Assembly
promulgates the Law No. 13/2008/QH12 on amendments to some Articles of the Law
on Value-added tax.”
The Law No. 71/2014/QH13
on amendments to Tax Laws is promulgated pursuant to:
“The Constitution of
Socialist Republic of Vietnam;
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The Law No. 106/2016/QH13
on amendments to some Articles of the Law on Value-added tax, the Law on
Special Excise Duty and the Law on Tax Administration is promulgated pursuant
to:
“The Constitution of
Socialist Republic of Vietnam;
The National Assembly
promulgates the Law on amendments to some Articles of the Law on Value-added
tax No. 13/2008/QH12, which is amended under the Law No. 31/2013/QH13, the Law
on special excise duty No. 27/2008/QH12 which is amended under the Law No.
70/2014/QH13, the Law on Tax administration No. 78/2006/QH11 which is amended
under the Law No. 21/2012/QH13 and the Law No. 71/2014/QH13.”
2 This Clause is amended
by Clause 1 Article 1 of Law No. 106/2016/QH13 on amendments to some Articles
of the Law on Value-Added Tax, the Law on Special Excise Duty, and the Law on
Tax Administration, which comes into force from July 01, 2016.
3 This Clause is added by
Clause 1 Article 3 of the Law No. 71/2014/QH13 on amendments to Tax Laws, which
comes into force from January 01, 2015.
4 This Clause is amended
by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments to some Articles of
the Law on Value-Added Tax, which comes into force from January 01, 2014.
5 This Clause is amended
by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments to some Articles of
the Law on Value-Added Tax, which comes into force from January 01, 2014.
6 This Clause is amended
by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments to some Articles of
the Law on Value-Added Tax, which comes into force from January 01, 2014.
7 This Clause is amended
by Clause 1 Article 1 of Law No. 106/2016/QH13 on amendments to some Articles
of the Law on Value-Added Tax, the Law on Special Excise Duty, and the Law on
Tax Administration, which comes into force from July 01, 2016.
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9 This Clause is amended
by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments to some Articles of
the Law on Value-Added Tax, which comes into force from January 01, 2014.
10 This Clause is amended
by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments to some Articles of
the Law on Value-Added Tax, which comes into force from January 01, 2014.
11 This Clause is amended
for the first time by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments
to some Articles of the Law on Value-Added Tax, which comes into force from
January 01, 2014.
This Clause is amended for
the second time by Clause 1 Article 1 of Law No. 106/2016/QH13 on amendments to
some Articles of the Law on Value-Added Tax, the Law on Special Excise Duty,
and the Law on Tax Administration, which comes into force from July 01, 2016.
12 This Clause is
amended by Clause 1 Article 1 of Law No. 31/2013/QH13 on amendments to some
Articles of the Law on Value-Added Tax, which comes into force from January 01,
2014.
13 This Point is amended
by Clause 2 Article 1 of the Law No. 31/2013/QH13 on amendments to some
Articles of the Law on Value-Added Tax, which comes into force from January 01,
2014.
14 This Point is amended
by Clause 2 Article 1 of the Law No. 31/2013/QH13 on amendments to some
Articles of the Law on Value-Added Tax, which comes into force from January 01,
2014.
15 This Point is amended
by Clause 2 Article 1 of the Law No. 31/2013/QH13 on amendments to some
Articles of the Law on Value-Added Tax, which comes into force from January 01,
2014.
16 Regulations on exchange
rates when determining revenues, expenditure, taxable prices, and assessable
income, taxable income and tax payable to state budget in this Clause are
annulled by Point c, Clause 2 Article 6 of the Law No. 71/2014/QH13 on
amendments to Tax Laws, which comes into force from January 01, 2015.
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This Clause is amended for
the second time by Clause 2 Article 1 of Law No. 106/2016/QH13 on amendments to
some Articles of the Law on Value-Added Tax, the Law on Special Excise Duty,
and the Law on Tax Administration, which comes into force from July 01, 2016.
18 This Point is amended
for the first time by Clause 3 Article 1 of Law No. 31/2013/QH13 on amendments
to some Articles of the Law on Value-Added Tax, which comes into force from
January 01, 2014 as follows:
“Exports that are raw
natural resources or minerals which have not been processed into other products
according to regulations in Clause 23 Article 5 of this Law.
Exported goods and
services being sold outside Vietnam, in non-tariff zones; goods and services
provided for foreigners according to the Government’s regulations.”
This Point is amended for
the second time by Clause 2 Article 1 of Law No. 106/2016/QH13 on amendments to
some Articles of the Law on Value-Added Tax, the Law on Special Excise Duty,
and the Law on Tax Administration, which comes into force from July 01, 2016.
19 This Point is amended
by Clause 2 Article 3 of the Law No. 71/2014/QH13 on amendments to Tax Laws,
which comes into force from January 01, 2015.
20 This Point is annulled
by Clause 3 Article 3 of the Law No. 71/2014/QH13 on amendments to Tax Laws,
which comes into force from January 01, 2015.
21 This Point is annulled
by Clause 3 Article 3 of the Law No. 71/2014/QH13 on amendments to Tax Laws,
which comes into force from January 01, 2015.
22 This Point is added by
Clause 3 Article 1 of the Law No. 31/2013/QH13 on amendments to some Articles
of the Law on Value-Added Tax, which comes into force from January 01, 2014.
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24 This Article is amended
by Clause 5 Article 1 of the Law No. 31/2013/QH13 on amendments to some
Articles of the Law on Value-Added Tax, which comes into force from January 01,
2014.
25 This Article is amended
by Clause 6 Article 1 of the Law No. 31/2013/QH13 on amendments to some
Articles of the Law on Value-Added Tax, which comes into force from January 01,
2014.
26 This Article is amended
for the first time by Clause 7 Article 1 of Law No. 31/2013/QH13 on amendments
to some Articles of the Law on Value-Added Tax, which comes into force from
January 01, 2014.
This Article is amended
for the second time by Clause 3 Article 1 of Law No. 106/2016/QH13 on
amendments to some Articles of the Law on Value-Added Tax, the Law on Special
Excise Duty, and the Law on Tax Administration, which comes into force from
July 01, 2016.
27 This Clause is amended
for the first time by Clause 7 Article 1 of Law No. 31/2013/QH13 on amendments
to some Articles of the Law on Value-Added Tax, which comes into force from
January 01, 2014 as follows:
“1 When the input VAT
of a business establishment that uses the deduction method is not completely
deducted in the month or in the quarter, it shall be deducted in the next
period; if the input VAT is not completely deducted after at least 12 months or
4 quarters from the month or the quarter in which the undeducted VAT arises,
the business establishment shall receive a tax refund.
When a business
establishment that uses the deduction method has a new project of investment,
the VAT on goods and services purchased during the investment is not deducted,
and the remaining tax is 300 million VND or higher, the establishment shall
receive a tax refund.
This Clause is amended for
the second time by Clause 3 Article 1 of Law No. 106/2016/QH13 on amendments to
some Articles of the Law on Value-Added Tax, the Law on Special Excise Duty,
and the Law on Tax Administration, which comes into force from July 01, 2016.
28 This Clause is amended
for the first time by Clause 7 Article 1 of Law No. 31/2013/QH13 on amendments
to some Articles of the Law on Value-Added Tax, which comes into force from
January 01, 2014 as follows:
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This Clause is amended for
the second time by Clause 3 Article 1 of Law No. 106/2016/QH13 on amendments to
some Articles of the Law on Value-Added Tax, the Law on Special Excise Duty,
and the Law on Tax Administration, which comes into force from July 01, 2016.
29 Article 2 of Law No. 31/2013/QH13 on amendments to the Law
on Value-added tax, which comes into force from January 01, 2014 stipulates
that:
“Article 2
1. This Law takes
effect on January 01, 2014, except for Clause 2 and Clause 3 of this Article.
2. The regulations on
the tax rate of 5% on the sale, lease, and lease-purchase of social housing in
Clause 3 Article 1 of this Law takes effect on July 01, 2013.
3. The 10% VAT on the
sale, lease, and hire purchase of commercial housing, which is finished
apartments smaller than 70 m2 that are sold at below 15 million
VND/m2, shall be reduced by 50% from July 01, 2013 until the end of
June 30, 2014.
4. The Government shall
elaborate and provide guidance on the implementation of this Law.
Article 6 of Law No.
71/2014/QH13 on amendments to Tax Laws, which comes into force from January 01,
2015 stipulates that:
“Article 6
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2. Regulations on
exchange rates when determining revenues, expenditure, taxable prices, and
assessable income, taxable income and tax payable to state budget in the
documents below are annulled:
a) Article 8 and Clause
3 Article 9 of the Law on Corporate income tax No. 14/2008/QH12, some Article
of which are amended in Law No. 32/2013/QH13;
b) Clause 1 Article 6
of the Law on Personal income tax No. 04/2007/QH11, some Articles of which are
amended in Law No. 26/2012/QH13;
c) Clause 3 Article 7
of the Law on Value-added tax No. 13/2008/QH12, some Articles of which are
amended in Law No. 31/2013/QH13;
d) Article 6 of the Law
on special excise duty No. 27/2008/QH12;
dd) Clause 3 Article 9
and Article 14 of the Law on Export and import tax No. 45/2005/QH11;
e) Clause 4 Article 86
of the Law on Customs No. 54/2013/QH13.
3. Point c Clause 1
Article 49 of the Law on Tax administration No. 78/2006/QH11, some Articles of
which are amended in Law No. 21/2012/QH13 is annulled.
4. Regulations on
determination of tax incurred by sole traders in Clause 1 Article 19, Clause 1
Article 20, and Clause 1 Article 21 of the Law on Personal income tax No.
04/2007/QH12, some Article of which are amended in Law No. 26/2012/QH13, are
annulled.
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Article 4 of Law No.
106/2016/QH13 on amendments to some Articles of the Law on Value-Added Tax, the
Law on Special Excise Duty, and the Law on Tax Administration, which comes into
force from July 01, 2016 stipulates that:
“Article 4
1. This Law comes into
force from July 01, 2016, except for the provisions specified in Clause 2 of
this Article
2. Clause 4 Article 3
of this Law comes into force from September 01, 2016.
3. The Government shall
elaborate the Articles and Clauses of this Law within its responsibility.