bóng đá hôm nay trực tiếpAre lending services provided by taxpayers that are not credit institutions subject to VAT in Vietnam from July 1, 2025?

Are lending services provided by taxpayers that are not credit institutionssubject to VAT in Vietnamfrom July 1, 2025?

Pursuant to Clause 9, Article 5 of bóng đá hôm nay trực tiếpValue Added Tax Law 2024(effective from July 1, 2025), it stipulates that bóng đá hôm nay trực tiếp following entities are not subject to tax:

Entities Not Subject to Tax

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9. bóng đá hôm nay trực tiếp following financial, banking, securities, and trade services:

a) Credit granting services in accordance with bóng đá hôm nay trực tiếp law on credit institutions and specific fees stated in loan agreements between bóng đá hôm nay trực tiếp Government of Vietnam and foreign lenders;

b) Lending services provided by taxpayers who are not credit institutions;

c) Securities trading, including securities brokerage, proprietary trading, securities issuance underwriting, securities investment advisory, securities investment fund management, and securities portfolio management under bóng đá hôm nay trực tiếp law on securities;

d) Capital transfer, including bóng đá hôm nay trực tiếp partial or entire transfer of bóng đá hôm nay trực tiếp invested capital in other economic organizations (regardless of bóng đá hôm nay trực tiếp establishment of a new legal entity), transfer of securities, capital contribution rights, and other forms of capital transfer under bóng đá hôm nay trực tiếp law, including bóng đá hôm nay trực tiếp sale of an enterprise to another for production and business, where bóng đá hôm nay trực tiếp purchasing enterprise inherits all rights and obligations of bóng đá hôm nay trực tiếp selling enterprise under bóng đá hôm nay trực tiếp law. Capital transfer stated in this point does not include project investment transfer, asset selling;

đ) Debt sale, including selling receivables and payables;

e) Foreign exchange trading;

g) Derivative products as prescribed by bóng đá hôm nay trực tiếp law on credit institutions, securities, and commerce, including interest rate swaps, forward contracts, futures contracts, options, and other derivative products;

h) Sale of collateral assets for debts held by organizations fully owned by bóng đá hôm nay trực tiếp state, established by bóng đá hôm nay trực tiếp Government of Vietnam with bóng đá hôm nay trực tiếp function of handling bad debts of Vietnamese credit institutions.

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Thus, lending services provided by taxpayers who are not credit institutions are not subject to VAT.

Are lending services provided by taxpayers that are not credit institutions subject to VAT in Vietnam from July 1, 2025?(Image from bóng đá hôm nay trực tiếp Internet)

Who are VAT payers in Vietnam?

Based on bóng đá hôm nay trực tiếp provisions in Article 3 ofCircular 219/2013/TT-BTC, VAT payers are organizations and individuals conducting production, business activities of goods, and services subject to VAT in Vietnam, regardless of bóng đá hôm nay trực tiếp type, form, or method of business (hereinafter referred to as business establishments), and organizations, individuals importing goods or services from abroad subject to VAT (hereinafter referred to as importers), including:

- Business organizations established and registered under bóng đá hôm nay trực tiếp Enterprise Law, bóng đá hôm nay trực tiếp State Enterprise Law (now bóng đá hôm nay trực tiếp Enterprise Law), bóng đá hôm nay trực tiếp Cooperative Law, and other specialized business laws;

- Economic organizations of political organizations, socio-political organizations, social organizations, socio-professional organizations, people's armed forces units, and other organizations;

- Enterprises with foreign-invested capital and foreign parties participating in business cooperation under bóng đá hôm nay trực tiếp Law on Foreign Investment in Vietnam (now bóng đá hôm nay trực tiếp Investment Law); foreign organizations and individuals conducting business in Vietnam without establishing a legal entity in Vietnam;

- Individuals, households, independent business groups, and other entities engaged in production, business, and import activities;

- Organizations and individuals conducting production and business in Vietnam purchasing services (including services associated with goods) from foreign organizations without a permanent establishment in Vietnam, and individuals abroad not residing in Vietnam will be taxpayers, except for cases where declaration and VAT payment are not required as guided in Clause 2, Article 5 ofCircular 219/2013/TT-BTC.

bóng đá hôm nay trực tiếp provisions on permanent establishments and non-resident entities follow bóng đá hôm nay trực tiếp laws on corporate income tax and personal income tax.

- Branches of export processing enterprises established to conduct trading activities and related activities in Vietnam as regulated by bóng đá hôm nay trực tiếp law on industrial zones, export processing zones, and economic zones.

When is VAT determined in Vietnam?

According to Article 8 ofCircular 219/2013/TT-BTC, bóng đá hôm nay trực tiếp time of VAT determination is stipulated as follows:

- For goods sold, it is bóng đá hôm nay trực tiếp time of transferring ownership or bóng đá hôm nay trực tiếp right to use bóng đá hôm nay trực tiếp goods to bóng đá hôm nay trực tiếp buyer, regardless of whether payment has been made or not.

- For service provision, it is bóng đá hôm nay trực tiếp time of completing service provision or bóng đá hôm nay trực tiếp issuance of bóng đá hôm nay trực tiếp service provision invoice, regardless of whether payment has been made or not.

For telecommunications services, it is bóng đá hôm nay trực tiếp time of completing data reconciliation on telecommunication service charges according to bóng đá hôm nay trực tiếp economic contract between telecommunications service providers, but no later than 2 months from bóng đá hôm nay trực tiếp month in which bóng đá hôm nay trực tiếp charge arises.

- For bóng đá hôm nay trực tiếp supply of electricity and clean water, it is bóng đá hôm nay trực tiếp day of recording electricity and water consumption on bóng đá hôm nay trực tiếp meter for invoicing.

- For real estate business, infrastructure development, house construction for sale, transfer, or lease, it is bóng đá hôm nay trực tiếp time of collection based on bóng đá hôm nay trực tiếp project's implementation progress or bóng đá hôm nay trực tiếp collection schedule stated in bóng đá hôm nay trực tiếp contract. Based on bóng đá hôm nay trực tiếp collected amount, bóng đá hôm nay trực tiếp business establishment declares bóng đá hôm nay trực tiếp output VAT incurred in bóng đá hôm nay trực tiếp period.

- For construction and installation activities, including shipbuilding, it is bóng đá hôm nay trực tiếp time of inspection, handing over bóng đá hôm nay trực tiếp construction works, construction items, and completed construction volumes, regardless of whether payment has been made or not.

- For imported goods, it is bóng đá hôm nay trực tiếp time of registering bóng đá hôm nay trực tiếp customs declaration.