VAT on some products will be 0%?
The Ministry of Finance is drafting a Decree amending and supplementing a number of articles of Decree 100/2016/ND-CP guiding the implementation of the Law amending and supplementing a number of articles of the Law on Value Added Tax and Decree 12/2015/ND-CP detailing the implementation of the Law amending and supplementing a number of articles of the Laws on Taxes.
The Ministry of Finance said that regarding the regulation that exported products processed from natural resources and minerals are not subject to VAT, to facilitate export enterprises, the Ministry of Finance submitted to the Government detailed regulations on a number of cases that are not subject to VAT and are subject to 0% VAT when exported in the draft Decree as follows: "Exported products are natural resources and minerals that have not been processed into other products.
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Export products are goods directly processed from main raw materials such as resources and minerals with the total value of resources and minerals plus energy costs accounting for 51% or more of the product's production cost, except for the following cases:
Exported products processed from resources and minerals directly exploited and processed by business establishments, which in the processing process have become other products and then continue to be processed into export products (closed processing process or establishment of workshops and factories for processing each stage), then the exported products are subject to the 0% VAT rate if they meet the conditions specified in Point c, Clause 2, Article 12 of Law No. 13/2008/QH12.
Export products processed from resources and minerals purchased by business establishments for processing, which in the processing process have become other products and then continue to be processed into export products (closed processing process or establishment of workshops and factories for processing in each stage), these export products are subject to the 0% VAT rate if they meet the conditions specified in Point c, Clause 2, Article 12 of Law No. 13/2008/QH12.
Export products processed from main raw materials that are not resources or minerals (resources or minerals processed into other products) purchased by business establishments and processed into export products, these export products are subject to a 0% VAT rate if they meet the conditions specified in Point c, Clause 2, Article 12 of Law No. 13/2008/QH12.”.
Regarding the non-refund of VAT for imported goods then exported, to be consistent with reality and encourage the export of goods, the Ministry of Finance submits to the Government detailed regulations in the draft Decree as follows: Imported goods then exported to non-tariff zones; imported goods then exported abroad or returned to the owner are eligible for VAT refund, except for imported goods then exported without being exported in the customs operation area according to the provisions of the Customs Law and guiding documents.
According to Lan Phuong/chinhphu.vn
