Economy

How should a taxpayer who buys and sells gold and has other business activities declare taxes?

Nghe An Tax Department June 28, 2024 08:44

How should a taxpayer who has both gold, silver and precious stone trading and manufacturing activities and other business activities declare Value Added Tax?

Chỉ trong 1 tuần, giá vàng nhẫn và vàng miếng đều tăng vọt. Ảnh: T.P
In just one week, the price of gold rings and gold bars both skyrocketed. Photo: TP

Nghe An Tax Department responded as follows:

Pursuant to the provisions of Point b, Clause 2, Article 7 of Decree No. 126/2020/ND-CP dated October 19, 2020 of the Government:

Taxpayers must prepare 02 VAT declaration dossiers, including 01 separate VAT declaration dossier for the trading and processing of gold, silver and precious stones and 01 separate VAT declaration dossier for other business activities. Taxpayers use VAT declaration form No. 03/GTGT ​​to declare tax for the trading and processing of gold, silver and precious stones; use VAT declaration form No. 01/GTGT ​​if applying the deduction method or form No. 04/GTGT ​​if applying the direct method of calculating tax on revenue to declare tax for other business activities.

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How should a taxpayer who buys and sells gold and has other business activities declare taxes?
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