Instructions for implementing some provisions of the Law on Value Added Tax
On December 18, the Prime Minister signed and issued Decree No. 209/2013/ND-CP detailing and guiding the implementation of a number of articles of the Law on Value Added Tax.
According to the Decree, value added tax payers are organizations and individuals producing and trading in goods and services subject to value added tax and organizations and individuals importing goods subject to value added tax; organizations and individuals producing and trading in Vietnam purchasing services from foreign organizations without permanent establishments in Vietnam, foreign individuals who are not residents in Vietnam, then the organizations and individuals purchasing services are taxpayers, except in cases where they are not required to declare and pay value added tax as prescribed in Point b Clause 3 Article 2 of the Decree.
The Decree stipulates cases that are not required to declare, calculate and pay value added tax; and subjects that are not subject to tax. The Decree stipulates the basis and method of calculation, including taxable price; time for determining value added tax; tax rate; tax deduction method; and method of direct calculation on added value. The Decree stipulates tax deduction and refund, including input value added tax deduction; value added tax refund; and place of tax payment.
Effective from January 1, 2014, this Decree replaces Decrees No. 123/2008/ND-CP and No. 212/2011/ND-CP of the Government detailing and guiding the implementation of a number of articles of the Law on Value Added Tax; annuls Clause 1, Article 4 of Decree No. 92/2013/ND-CP detailing the implementation of a number of articles effective from July 1, 2013 of the Law amending and supplementing a number of articles of the Law on Corporate Income Tax and the Law amending and supplementing a number of articles of the Law on Value Added Tax from the effective date of the Decree./.
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