From January 1, 2015, some additional items are not subject to VAT.

(Baonghean.vn) - On November 26, 2014, at the 8th session, the 13th National Assembly passed Law No. 71/2014/QH13 amending and supplementing a number of articles of the Laws on Taxes. The Law takes effect from January 1, 2015.

Article 3 of Law No. 71/2014/QH13 has added subjects not subject to VAT for the construction of new offshore fishing vessels. 03 groups of goods subject to VAT at a rate of 5% have been transferred to subjects not subject to VAT: Fertilizer; feed for livestock, poultry, pets; machinery and specialized equipment serving agricultural production.

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Thus, from January 1, 2015, the above-mentioned items are not subject to VAT from the import stage to the production and commercial sale stage (including wholesale and retail). Enterprises importing the above-mentioned items not subject to VAT do not have to pay VAT at the import stage.

Enterprises and business organizations pay VAT according to the deduction method when issuing VAT invoices for the sale of the following items: Fertilizers; machinery and specialized equipment for agricultural production; animal feed, poultry feed and feed for other animals; offshore fishing vessels that do not record VAT on the invoice (cross out the tax amount line, VAT rate) in accordance with the provisions of Circular No. 39/2014/TT-BTC dated March 31, 2014 providing guidance on invoices.

Also from January 1, 2015, households that trade in the above newly added non-VAT taxable items do not have to include them in their VAT taxable revenue./.

Duong Quang