How many methods are there to calculate VAT? What is bóng đá hôm nay trực tiếp latest formula for calculating VAT in Vietnam?
How many methods are there to calculate VAT? What is bóng đá hôm nay trực tiếp latest formula for calculating VAT in Vietnam?
According to bóng đá hôm nay trực tiếp provisions of bóng đá hôm nay trực tiếpLuật Thuế giá trị đá bóng trựcand current documents, VAT is currently calculated using 2 methods:
- Tax credit method
- Direct calculation method on value added.
In principle, bóng đá hôm nay trực tiếp general formula for calculating VAT is as follows:
VAT = Taxable price x VAT rate
However, to suit each subject applying VAT, bóng đá hôm nay trực tiếp calculation will vary when applying bóng đá hôm nay trực tiếp two methods of VAT calculation.
How many methods are there to calculate VAT? What is bóng đá hôm nay trực tiếp latest formula for calculating VAT in Vietnam?(Image from bóng đá hôm nay trực tiếp Internet)
What is bóng đá hôm nay trực tiếp value-added tax credit method in Vietnam?
Based on Article 10 of bóng đá hôm nay trực tiếpLaw on Value Added Tax 2008(amended by Clause 4, Article 1 of bóng đá hôm nay trực tiếpLaw on bóng đá hôm nay trực tiếp Amendment of bóng đá hôm nay trực tiếp Law on Value Added Tax 2013), it is stipulated as follows:
Tax Credit Method
1. bóng đá hôm nay trực tiếp value-added tax credit method is specified as follows:
a) bóng đá hôm nay trực tiếp VAT payable under bóng đá hôm nay trực tiếp tax credit method is equal to bóng đá hôm nay trực tiếp output VAT minus bóng đá hôm nay trực tiếp input VAT credit;
b) bóng đá hôm nay trực tiếp output VAT is bóng đá hôm nay trực tiếp total VAT of goods and services sold as stated on bóng đá hôm nay trực tiếp value-added invoice.
VAT on goods and services sold as stated on bóng đá hôm nay trực tiếp value-added invoice is equal to bóng đá hôm nay trực tiếp taxable sale price of goods and services multiplied by bóng đá hôm nay trực tiếp VAT rate for those goods and services.
In case payment vouchers reflect prices including VAT, bóng đá hôm nay trực tiếp output VAT is determined by bóng đá hôm nay trực tiếp payment price minus bóng đá hôm nay trực tiếp tax base determined under point k, clause 1, Article 7 of this Law;
c) bóng đá hôm nay trực tiếp input VAT credit is equal to bóng đá hôm nay trực tiếp total input VAT stated on value-added invoices for purchased goods and services, payments of VAT for imported goods, and meets conditions stipulated in Article 12 of this Law.
2. bóng đá hôm nay trực tiếp tax credit method applies to business establishments that fully implement accounting policies, invoices, and documents as per legal regulations regarding accounting, invoices, and documents, including:
a) Business establishments with annual revenue from bóng đá hôm nay trực tiếp sale of goods and provision of services of one billion VND or more, excluding households and individuals conducting business;
b) Business establishments that voluntarily apply for bóng đá hôm nay trực tiếp tax credit method, excluding households and individuals conducting business.
3. bóng đá hôm nay trực tiếp Government of Vietnam provides detailed regulations for this Article.
bóng đá hôm nay trực tiếp value-added tax credit method is as follows:
- bóng đá hôm nay trực tiếp VAT payable under bóng đá hôm nay trực tiếp tax credit method is equal to bóng đá hôm nay trực tiếp output VAT minus bóng đá hôm nay trực tiếp input VAT credit;
- bóng đá hôm nay trực tiếp output VAT is bóng đá hôm nay trực tiếp total VAT of goods and services sold as recorded on bóng đá hôm nay trực tiếp value-added invoice.
VAT on goods and services sold as recorded on bóng đá hôm nay trực tiếp value-added invoice is calculated based on bóng đá hôm nay trực tiếp taxable price of goods and services sold multiplied by bóng đá hôm nay trực tiếp VAT rate applicable to those goods and services.
In cases where payment vouchers include prices with VAT, bóng đá hôm nay trực tiếp output VAT is determined by bóng đá hôm nay trực tiếp payment price minus bóng đá hôm nay trực tiếp taxable base determined according to point k, clause 1, Article 7 of bóng đá hôm nay trực tiếpLaw on Value Added Tax 2008;
- bóng đá hôm nay trực tiếp input VAT credit is equal to bóng đá hôm nay trực tiếp total input VAT as stated on value-added invoices for purchased goods and services, payments of VAT for imported goods, and complies with bóng đá hôm nay trực tiếp conditions set forth in Article 12 of bóng đá hôm nay trực tiếpLaw on Value Added Tax 2008.
Note:bóng đá hôm nay trực tiếp tax credit method applies to business establishments that fully implement accounting policies, invoices, and documentation as per legal regulations regarding accounting, invoices, and documents, which include:
- Business establishments with annual revenue from selling goods and providing services of one billion VND or more, excluding business households and individuals;
- Business establishments that voluntarily register to apply bóng đá hôm nay trực tiếp tax credit method, excluding business households and individuals.
What is bóng đá hôm nay trực tiếp method of calculation of tax based directly on added value in Vietnam?
Based on Article 11 of bóng đá hôm nay trực tiếpLaw on Value Added Tax 2008(amended by Clause 5, Article 1 of bóng đá hôm nay trực tiếpLaw on bóng đá hôm nay trực tiếp Amendment of bóng đá hôm nay trực tiếp Law on Value Added Tax 2013):
- bóng đá hôm nay trực tiếp VAT payable under bóng đá hôm nay trực tiếp direct method on value added is calculated as bóng đá hôm nay trực tiếp value added multiplied by bóng đá hôm nay trực tiếp VAT rate applicable to trading activities, gold, silver, and precious stones processing.
- bóng đá hôm nay trực tiếp value added of gold, silver, and precious stones is determined by bóng đá hôm nay trực tiếp selling price minus bóng đá hôm nay trực tiếp purchasing price of bóng đá hôm nay trực tiếp respective gold, silver, and precious stones.
To be specific, bóng đá hôm nay trực tiếp VAT payable under bóng đá hôm nay trực tiếp direct method on value added is determined by bóng đá hôm nay trực tiếp percentage multiplied by bóng đá hôm nay trực tiếp revenue applicable as follows:
Regarding applicable entities:
- Enterprises, cooperatives with annual revenue below bóng đá hôm nay trực tiếp one billion VND threshold, except cases registered for bóng đá hôm nay trực tiếp tax credit method as stipulated in Clause 2, Article 10 of this Law;
- Households and individuals engaged in business;
- Foreign organizations and individuals conducting business without a permanent establishment in Vietnam but generating revenue in Vietnam not fully implementing accounting policies, invoices, and documentation, excluding foreign organizations and individuals supplying goods and services for exploration, drilling, development, and extraction of oil and gas subject to bóng đá hôm nay trực tiếp tax credit method and paid by bóng đá hôm nay trực tiếp Vietnam side;
- Other economic organizations, except when voluntarily registered to pay tax under bóng đá hôm nay trực tiếp tax credit method as stipulated in Clause 2, Article 10 of this Law;
bóng đá hôm nay trực tiếp percentage for calculating VAT is stipulated as follows:
- Distribution, supply of goods: 1%;
- Services, construction without supply of materials: 5%;
- Production, transportation, services associated with goods, construction with supply of materials: 3%;
- Other business activities: 2%
