VietnameseOfficial Dispatch No. 1961/TCT-DTNN of June 05, 2006, on Taxes for foreign contractors
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Official Dispatch No. 1961/TCT-DTNN of June 05, 2006, on Taxes for foreign contractors
| Issuing body: | General Department of Taxation | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 1961/TCT-DTNN | Signer: | Pham Van Huyen |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 05/06/2006 | 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
MINISTRY OF FINANCE GENERAL DEPARTMENT OF TAXATION ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness --------- |
No. 1961/TCT-DTNN Re: Taxes for foreign contractors | Hanoi, June 5, 2006 |
To: | - The Vietnam International Financial Leasing Company - The Tax Department of Ho Chi Minh City |
The General Department of Taxation has received the Vietnam International Financial Leasing Company’s Official Letter No. 17/CV/2006, dated April 24, 2006, requesting guidance on taxes for contracts on machinery and equipment import. The General Department of Taxation hereby gives the following guidance:
According to Point 1, Section I, Part A of the Finance Ministry’s Circular No. 5/2005/TT-BTC of January 11, 2005, foreign organizations supplying goods in association with installation, trial run, warranty, maintenance, replacement, training and other services, regardless of whether or not the provision of these services included in or excluded from the value of the goods supply contract, shall all have to pay taxes under the provisions of this Circular.
Therefore, foreign organizations supplying the Vietnam International Financial Leasing Company with machinery and equipment in association with installation, trial run, warranty, and maintenance services whose value is not included in the contract shall pay taxes for the provision of machinery, equipment and services in Vietnam. The ratios of the added value and the business income tax to taxable turnover shall be applied to the value of machinery and equipment and that of services separately. In case it is impossible to separate the value of machinery and equipment from that of services, the value added rate of 25% and business income tax rate of 2% shall be applied to the whole contractual value.
The General Department of Taxation informs the Vietnam International Financial Leasing Company and the Tax Department of Ho Chi Minh City thereof for compliance.
FOR THE GENERAL DIRECTOR DEPUTY GENERAL DIRECTOR Pham Van Huyen |
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