Circular No. 175/2012/TT-BTC dated October 22, 2012 of the Ministry of Finance guiding the extension of value added tax payment under Resolution No. 67/NQ-CP dated October 05, 2012 of the Government

THE MINISTRY OF FINANCE

Circular No. 175/2012/TT-BTC of October 22, 2012, guiding the extension of value-added tax payment under the Government’s Resolution No. 67/NQ-CP of October 5, 2012

Pursuant to June 3, 2008 Law No. 13/2008/QH12 on Value-Added Tax;

Pursuant to November 29, 2006 Law No. 78/2006/QH11 on Tax Administration;

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;

At the proposal of the General Director of Taxation,

The Minister of Finance guides the implementation of the Government’s Resolution No. 67/NQ-CP of October 5, 2012, as follows:

Article 1. Extension of value-added tax payment

1. The payment of value-added tax amounts payable in June 2012 that has been extended to January 2013 under Resolution No. 13/NQ-CP of May 13, 2012, and Circular No. 83/2012/TT-BTC of May 23, 2012, shall be further extended to April 2013.

2. Enterprises which are paying value-added tax by the credit method and eligible for extension of value-added tax payment include:

a/ Small- and medium-sized enterprises, including cooperatives (below collectively referred to as small- and medium-sized enterprises), excluding small- and medium-sized enterprises operating in the fields of lottery, securities, finance, banking or insurance, production of goods or provision of services liable to excise tax, and grade-1 and special-grade enterprises of economic groups and corporations.

b/ Labor-intensive enterprises engaged in production, sub-contracted production or processing of agricultural, forest and fishery products, textile and garment, leather and footwear, and electronic parts; and socio-economic infrastructure construction (below collectively referred to as labor-intensive enterprises).

3. The criteria for identifying small- and medium-sized enterprises and labor-intensive enterprises and the way of determining value-added tax amounts eligible for payment extension comply with the guidance in Clauses 2, 3 and 4, Article 1 of the Ministry of Finance’s Circular No. 83/2012/TT-BTC of May 23, 2012.

4. The deadline for paying value-added tax of June 2012 is April 22, 2013.

Article 2. Implementation responsibilities

1. The tax agencies at all levels shall disseminate and guide enterprises eligible for extension to comply with the provisions of this Circular.

2. Enterprises regulated by this Circular shall comply with the guidance in this Circular.

Any problems arising in the course of implementation should be promptly reported to the Ministry of Finance for study and settlement.-

For the Minister of Finance
Deputy Minister
DO HOANG ANH TUAN