How should a taxpayer who both buys and sells gold and has other business activities declare taxes?
How should a taxpayer who has both gold, silver, and gemstone trading and manufacturing activities and other business activities declare Value Added Tax?
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Nghe An Tax Department responded as follows:
Pursuant to 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.
