VietnameseOfficial Dispatch No. 10513/BTC-TCT of August 22, 2005, on value added tax policy
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Official Dispatch No. 10513/BTC-TCT of August 22, 2005, on value added tax policy
| Issuing body: | Ministry of Finance | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 10513/BTC-TCT | Signer: | Truong Chi Trung |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 22/08/2005 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Tax - Fee - Charge |
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Effect status: Known
THE MINISTRY OF FINANCE ---------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness -------------- |
No. 10513/BTC-TCT On value added tax policy | Hanoi, August 22, 2005 |
To: | - Ministries, ministerial-level agencies - Provincial/municipal People's Committees - Provincial/municipal Tax Departments |
The Finance Ministry has recently received official letters from several enterprises and provincial/municipal Taxation Departments, reporting on the value added tax (VAT) policy on goods and services provided to or installed for projects with non-refundable aid from foreign organizations or individuals for Vietnam. Regarding this matter, the Finance Ministry gives the following opinion:
Pursuant to the Finance Ministry's Circulars No. 120/2003/TT-BTC of December 12, 2003, and No. 32/2005/TT-BTC of April 26, 2005, providing guidance on VAT:a
- Where unions, federations, associations, socio-political organizations, etc. (referred to collectively as associations) use foreign non-refundable aid money for purchasing goods in Vietnam, the associations shall be refunded the VAT amounts written in VAT invoices and paid upon goods purchase.
- Where foreign donors directly sign contracts with domestic business establishments for execution of non-refundable aid projects, they shall be exempt from VAT. Meanwhile, domestic business establishments which have declared and paid VAT by credit method, and provided VAT-liable goods or services to foreign donors at VAT-exclusive prices shall have the input VAT on goods or services supplied to projects credited or refunded.
The Finance Ministry hereby notifies the above-said opinion to concerned units for knowledge and implementation.
Truong Chi Trung |
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