What goods trực tiếp bóng đá việt nam hôm nay services are not subject to VAT reduction in Vietnam under Decree 72?

What goods trực tiếp bóng đá việt nam hôm nay services are not subject to VAT reduction in Vietnam under Decree 72?

Under Clause 1, Article 1 ofDecree 72/2024/ND-CPstipulating the VAT reduction:

* VAT on goods trực tiếp bóng đá việt nam hôm nay services that are currently subject to 10% VAT shall be reduced, except the following goods trực tiếp bóng đá việt nam hôm nay services:

- Telecommunication, financial activities, banking activities, securities, insurance, trading of real estate, metal trực tiếp bóng đá việt nam hôm nay precast metal products, mining products (excluding coal mining), coke mining, refined oil, chemical products. Further details are provided in Appendix I enclosed herewith.(DownloadAppendix 1)

- Goods trực tiếp bóng đá việt nam hôm nay services subject to excise tax. Further details are provided in Appendix II enclosed herewith.(DownloadAppendix 2)

- Information technology products trực tiếp bóng đá việt nam hôm nay services as prescribed in the Law on information technology.Further details are provided in Appendix III enclosed herewith.(DownloadAppendix 3)

- VAT on goods trực tiếp bóng đá việt nam hôm nay services of a specific type as specified in Clause 1, Article 1 ofDecree 72/2024/ND-CPshall be reduced consistently in all stages, including import, production, processing trực tiếp bóng đá việt nam hôm nay trading.Coal products mined for sale (including coal products mined trực tiếp bóng đá việt nam hôm nay then washed, sieved trực tiếp bóng đá việt nam hôm nay classified under a closed process before they are sold) are eligible for VAT reduction. Coal products in Appendix I enclosed herewith (DownloadAppendix 1) are not eligible for VAT reduction in any stages other than the mining stage.

Coal products produced under a closed process of economic corporations or groups shall be also eligible for VAT reduction.

In case any of the goods trực tiếp bóng đá việt nam hôm nay services in Appendixes I, II trực tiếp bóng đá việt nam hôm nay III enclosed herewith is not subject to VAT or is subject to 5% VAT in accordance with the Law on value-added tax, VAT on that good or service shall be paid in accordance with the Law on value-added tax trực tiếp bóng đá việt nam hôm nay shall not be reduced.

What goods trực tiếp bóng đá việt nam hôm nay services are not subject to VAT reduction in Vietnam under Decree 72? (Image from the Internet)

What are the VAT reduction procedures in 2024 in Vietnam?

Pursuant to Clause 3, Article 1 ofDecree 72/2024/ND-CPstipulating the VAT reduction procedures:

* Procedures for implementation

- When issuing VAT invoices for goods trực tiếp bóng đá việt nam hôm nay services eligible for VAT reduction, the business establishments specified at Point a, Clause 2, Article 1 ofDecree 72/2024/ND-CPshall write “8%” on the “VAT rate” line, VAT amount payable, trực tiếp bóng đá việt nam hôm nay total amount payable by the buyer on the issued invoice. The good seller or service provider shall declare output VAT trực tiếp bóng đá việt nam hôm nay the good buyer or service user shall declare trực tiếp bóng đá việt nam hôm nay deduct input VAT according to the VAT amount written on the VAT invoice.

- When issuing sales invoices for goods trực tiếp bóng đá việt nam hôm nay services on which VAT is reduced, the business establishments specified in Point b Clause 2, Article 1 ofDecree 72/2024/ND-CPshall write the amount before reduction in the "Thành tiền" ("Amount") column, the amount payable after reduction (by 20% of the tax rate on revenue) in the “Cộng tiền hàng hóa, dịch vụ” ("Total amount") line, trực tiếp bóng đá việt nam hôm nay the note “đã giảm... (số tiền) tương ứng 20% mức tỷ lệ % để tính thuế giá trị gia tăng theo Nghị quyết số 142/2024/QH15” ("an amount of......., equivalent to 20% of the tax rate used as the basis for calculating VAT, is reduced according toNghị trực tiếp bóng đá việt nam”) on the issued invoice.

What are the regulations onVAT payers in Vietnam?

Pursuant to the provisions of Clauses 1 trực tiếp bóng đá việt nam hôm nay 2, Article 2 ofDecree 209/2013/ND-CP, regulations on VAT payers are as follows:

Tax payers

1. Value-added tax payers include organizations trực tiếp bóng đá việt nam hôm nay individuals producing or trading in goods or services subject to value-added tax (below referred to as business establishments) trực tiếp bóng đá việt nam hôm nay organizations trực tiếp bóng đá việt nam hôm nay individuals importing goods subject to value-added tax (below referred to as importers).

2. Vietnam-based production trực tiếp bóng đá việt nam hôm nay business organizations trực tiếp bóng đá việt nam hôm nay individuals that purchase services (including services associated with goods) from foreign organizations without permanent establishments in Vietnam or overseas individuals not residing in Vietnam shall be value-added tax payers, unless they are not required to declare, calculate trực tiếp bóng đá việt nam hôm nay pay value-added tax defined at point b Clause 3 of this Article.

Permanent establishments trực tiếp bóng đá việt nam hôm nay overseas individuals being non-residents at this Clause must comply with the laws on enterprise income tax trực tiếp bóng đá việt nam hôm nay personal income tax.

3. Cases are not required to declare, calculate trực tiếp bóng đá việt nam hôm nay pay value-added tax:

a) Organizations trực tiếp bóng đá việt nam hôm nay individuals receive amounts involving compensation, awards, subsidies, money for transfer of emission right trực tiếp bóng đá việt nam hôm nay other financial revenues.

b) Vietnam-based production trực tiếp bóng đá việt nam hôm nay business organizations trực tiếp bóng đá việt nam hôm nay individuals that purchase services from foreign organizations without permanent establishments in Vietnam or overseas individuals not residing in Vietnam including the following cases: repair of means of transport, machinery or equipment (including supplies trực tiếp bóng đá việt nam hôm nay spare parts); advertisement trực tiếp bóng đá việt nam hôm nay marketing; investment trực tiếp bóng đá việt nam hôm nay trade promotion; goods sale trực tiếp bóng đá việt nam hôm nay service provision brokerage: or training; or share with foreign partners charges for international post or telecommunications services provided outside Vietnam.

c) The non-business organizations trực tiếp bóng đá việt nam hôm nay individuals are not value- added tax payer upon selling assets.

d) Organizations trực tiếp bóng đá việt nam hôm nay individuals that transfer investment projects for production of trực tiếp bóng đá việt nam hôm nay trading in goods or services subject to value-added tax to enterprises or cooperatives.

dd) Cultivation, husbandry trực tiếp bóng đá việt nam hôm nay aquatic products which have not yet been processed into other products or have been just preliminarily processed trực tiếp bóng đá việt nam hôm nay sold to enterprises or cooperatives, except for case defined at Clause 1 Article 5 of the Law on value-added tax.

The Ministry of Finance shall guide specifically provisions at Clauses 2 trực tiếp bóng đá việt nam hôm nay 3 of this Article.

Thus, according to the regulations, VAT payers include:

- Value-added tax payers include organizations trực tiếp bóng đá việt nam hôm nay individuals producing or trading in goods or services subject to value-added tax (below referred to as business establishments) trực tiếp bóng đá việt nam hôm nay organizations trực tiếp bóng đá việt nam hôm nay individuals importing goods subject to value-added tax (below referred to as importers).

- Vietnam-based production trực tiếp bóng đá việt nam hôm nay business organizations trực tiếp bóng đá việt nam hôm nay individuals that purchase services (including services associated with goods) from foreign organizations without permanent establishments in Vietnam or overseas individuals not residing in Vietnam shall be value-added tax payers, unless they are not required to declare, calculate trực tiếp bóng đá việt nam hôm nay pay value-added tax defined at point b Clause 3 of, Article 2 ofDecree 209/2013/ND-CP.

*Note:Permanent establishments trực tiếp bóng đá việt nam hôm nay overseas individuals being non-residents at this Clause must comply with the laws on enterprise income tax trực tiếp bóng đá việt nam hôm nay personal income tax.