How should a business handle deductions upon discovering an error in vtv2 trực tiếp bóng đá hôm nay input value-added tax?

How should a business handle vtv2 trực tiếp bóng đá hôm nay deduction if they discover an error in vtv2 trực tiếp bóng đá hôm nay input value-added tax?

Based on Article 14 ofCircular 219/2013/TT-BTC, supplemented by point b, clause 9, Article 1 ofCircular 26/2015/TT-BTC, vtv2 trực tiếp bóng đá hôm nay principles for deducting input value-added tax are prescribed as follows:

Principles of deducting input value-added tax

1. Input VAT for goods and services used for vtv2 trực tiếp bóng đá hôm nay production and business of VAT-liable goods and services is fully deductible, including input VAT not compensated for on VAT-liable goods that are lost.

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8. Input VAT that arises in any period is declared and deducted when determining vtv2 trực tiếp bóng đá hôm nay tax payable for that period, regardless of whether it has been used or is still in inventory.

In cases where a business discovers an error in vtv2 trực tiếp bóng đá hôm nay input VAT when declaring and deducting, they may declare and deduct additionally before vtv2 trực tiếp bóng đá hôm nay tax authority, or other competent authority, announces a decision to inspect or audit vtv2 trực tiếp bóng đá hôm nay tax at vtv2 trực tiếp bóng đá hôm nay taxpayer’s office.

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Accordingly,it is stipulated that when a business discovers an error in vtv2 trực tiếp bóng đá hôm nay input VAT, they are allowed to declare and deduct additionally before vtv2 trực tiếp bóng đá hôm nay tax authority or competent authority announces a decision to inspect or audit vtv2 trực tiếp bóng đá hôm nay tax at vtv2 trực tiếp bóng đá hôm nay taxpayer’s office.

How should a business handle vtv2 trực tiếp bóng đá hôm nay deduction if they discover an error in vtv2 trực tiếp bóng đá hôm nay input value-added tax? (Image from vtv2 trực tiếp bóng đá hôm nay Internet)

How is input value-added tax on goods and services deducted?

According to vtv2 trực tiếp bóng đá hôm nay provisions in clause 1, Article 12 ofLaw on Value-Added Tax 2008, amended and supplemented by clause 6, Article 1 ofLaw No. 31/2013/QH13, businesses paying VAT by deduction method are allowed to deduct input VAT as follows:

- Input VAT for goods and services used for vtv2 trực tiếp bóng đá hôm nay production and business of VAT-liable goods and services is fully deductible, including input VAT not compensated for goods and services subject to VAT that are damaged.

- Input VAT for goods and services used simultaneously for vtv2 trực tiếp bóng đá hôm nay production and business of both taxable and non-taxable goods and services is only deductible for vtv2 trực tiếp bóng đá hôm nay portion relating to production and business of VAT-liable goods and services.

Businesses must separately account for deductible and non-deductible input VAT; if separate accounting is not possible, deductible input VAT is calculated based on vtv2 trực tiếp bóng đá hôm nay percentage of revenue from VAT-liable goods and services over total revenue.

- Input VAT for goods and services sold to organizations or individuals using humanitarian aid or non-refundable aid sources is fully deductible.

- Input VAT for goods and services used for oil and gas exploration and development activity is fully deductible.

- Input VAT that arises in any month is declared and deducted when determining vtv2 trực tiếp bóng đá hôm nay tax payable for that month. If a business discovers an error in vtv2 trực tiếp bóng đá hôm nay input VAT when declaring and deducting, they can declare and deduct additionally before vtv2 trực tiếp bóng đá hôm nay tax authority announces inspection or audit decisions at vtv2 trực tiếp bóng đá hôm nay taxpayer’s office.

Regulations on cases eligible for VAT refund?

According to Article 13 ofLaw on Value-Added Tax 2008, amended by clause 7, Article 1 ofAmended Law on VAT 2013, further amended by clause 3, Article 1 ofAmended Laws on VAT, Special Consumption, and Tax Management 2016, vtv2 trực tiếp bóng đá hôm nay following cases are eligible for VAT refund:

- Businesses paying VAT by deduction method, if they have remaining input VAT not yet deducted in a month or quarter, may carry it forward to vtv2 trực tiếp bóng đá hôm nay next period.

If such businesses have registered projects in vtv2 trực tiếp bóng đá hôm nay investment phase with remaining input VAT for purchased goods and services amounting to VND 300 million or more, they may receive a VAT refund.

Businesses are not eligible for VAT refund for investment projects that fail to meet capital contribution as registered, or for operating in conditional business lines without meeting vtv2 trực tiếp bóng đá hôm nay required conditions ofxoilac tv trực tiếpor maintaining vtv2 trực tiếp bóng đá hôm nay conditions during operation.

+ Investment projects for resource extraction and mining licensed from July 1, 2016, or investment projects for products with resources, minerals, and energy costs constituting 51% or more of product costs, are exempted from VAT refund.

- Businesses with exported goods and services in a month or quarter with remaining input VAT of VND 300 million or more may receive VAT refunds on a monthly or quarterly basis, excluding goods imported for export and goods not exported within customs operations as per vtv2 trực tiếp bóng đá hôm nayLuật Hải trực tiếp.

Pre-refund audits apply to taxpayers producing export goods who have not violated tax or customs laws for two consecutive years, and taxpayers not categorized under high-risk as perLuật Quản trực tiếp bóng đá.

- Businesses paying VAT by deduction method receiving a VAT refund upon ownership transition, enterprise conversion, merger, consolidation, demerger, dissolution, bankruptcy, or termination of operations with excess paid or uncredited input VAT.

- Foreigners or overseas Vietnamese with passports or entry documents issued by foreign authorities are eligible for VAT refund for goods purchased in Vietnam and carried upon exit.

- VAT refunds for programs and projects utilizing non-refundable official development assistance (ODA) or humanitarian aid comply as follows:

+ vtv2 trực tiếp bóng đá hôm nay program manager, main contractor, or organization appointed by vtv2 trực tiếp bóng đá hôm nay foreign donor using non-refundable ODA may receive refunds for VAT paid on goods and services bought domestically for vtv2 trực tiếp bóng đá hôm nay program or project.

+ An organization in Vietnam using humanitarian aid funds from foreign organizations or individuals to purchase goods and services for non-refundable aid or humanitarian projects may receive VAT refunds for vtv2 trực tiếp bóng đá hôm nay applied VAT.

- Entities under diplomatic immunity as per vtv2 trực tiếp bóng đá hôm nay diplomatic privileges law in Vietnam may receive VAT refunds from invoices or receipts indicating VAT-paid prices.

- Businesses with VAT refund decisions from competent authorities under vtv2 trực tiếp bóng đá hôm nay law and cases specified for VAT refunds per international treaties involving vtv2 trực tiếp bóng đá hôm nay Socialist Republic of Vietnam.