Is revenue from liquidation of collateral subject vtv5 trực tiếp bóng đá hôm nay VAT declaration and payment in Vietnam?
Is revenue from liquidation of collateralsubject vtv5 trực tiếp bóng đá hôm nay VAT declaration and payment in Vietnam?
Based on points a and b, clause 8, Article 4 ofCircular 219/2013/TT-BTC, supplemented by clause 2, Article 1 ofCircular 26/2015/TT-BTCand amended by clause 3, Article 1 ofCircular 26/2015/TT-BTC, which regulates that the following financial, banking, and securities services are exempt from VAT:
Entities not subject vtv5 trực tiếp bóng đá hôm nay VAT
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- The following financial, banking, and securities services:
a) Credit granting services include the following forms:
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- Selling secured loan assets by credit institutions, law enforcement agencies, or borrowers themselves under the lender's authorization vtv5 trực tiếp bóng đá hôm nay repay a secured loan, specifically:
+ Secured loan assets sold are assets within a registered secured transaction with the competent authority as per legal regulations on secured transaction registration.
+ The handling of secured loan assets is carried out according vtv5 trực tiếp bóng đá hôm nay legal regulations on secured transactions.
In cases where the debtor cannot repay after the due period and must hand over assets vtv5 trực tiếp bóng đá hôm nay the credit institution for the credit institution vtv5 trực tiếp bóng đá hôm nay handle secured loan assets as per the law, the parties shall conduct asset handover procedures in accordance with legal regulations without issuing a VAT invoice.
If a credit institution acquires secured assets vtv5 trực tiếp bóng đá hôm nay substitute for performing the repayment obligation, the institution shall record an increase in asset value for production and business purposes as prescribed. When the credit institution sells assets for business activities, if the assets are taxable under VAT, the institution must declare and pay VAT as required.
Example 3: In March 2015, Company A, a business entity paying VAT by deduction method, mortgages machinery and equipment vtv5 trực tiếp bóng đá hôm nay borrow from Bank B, with a loan term of one year (repayment due March 31, 2016). By March 31, 2016, Company A cannot repay and must transfer assets vtv5 trực tiếp bóng đá hôm nay Bank B, so upon asset transfer, Company A is not required vtv5 trực tiếp bóng đá hôm nay issue an invoice. Bank B sells the secured loan assets vtv5 trực tiếp bóng đá hôm nay recover the debt; the sold assets are not subject vtv5 trực tiếp bóng đá hôm nay VAT.
Example 3a: In December 2014, Company B, a business entity paying VAT by the deduction method, mortgages the workshop on land and land use rights vtv5 trực tiếp bóng đá hôm nay borrow from Commercial Bank C for one year, with repayment due on December 15, 2016. Commercial Bank C and Company B register a secured transaction (mortgaging the workshop on land and land use rights) with the competent authority. By December 15, 2016, Company B cannot repay, and Commercial Bank C agrees in writing vtv5 trực tiếp bóng đá hôm nay release the mortgage for Company B vtv5 trực tiếp bóng đá hôm nay sell the workshop vtv5 trực tiếp bóng đá hôm nay repay the bank. In January 2017, Company B sells the workshop vtv5 trực tiếp bóng đá hôm nay repay the bank, and the sold workshop is not subject vtv5 trực tiếp bóng đá hôm nay VAT.
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Thus, revenue from liquidation of collateral vtv5 trực tiếp bóng đá hôm nay repay a loan by a credit institution, law enforcement agency, or the borrower under the lender's authorization vtv5 trực tiếp bóng đá hôm nay repay a secured loan is not subject vtv5 trực tiếp bóng đá hôm nay VAT.
Additionally, if a credit institution receives secured assets in lieu of fulfilling the repayment obligation, when it sells the assets for business purposes, if the assets are subject vtv5 trực tiếp bóng đá hôm nay VAT, the institution must declare and pay VAT as prescribed.
Is revenue from liquidation of collateral subject vtv5 trực tiếp bóng đá hôm nay VAT declaration and payment in Vietnam?(Image from the Internet)
How vtv5 trực tiếp bóng đá hôm nay determinethe VAT taxable price for goods sold by business entities in Vietnam?
According vtv5 trực tiếp bóng đá hôm nay clause 1, Article 7 ofCircular 219/2013/TT-BTC, the VAT taxable price for goods sold by business entities is determined as follows:
- For goods sold by business entities, the selling price excludes VAT.
- For goods subject vtv5 trực tiếp bóng đá hôm nay special consumption tax, the selling price includes special consumption tax but excludes VAT.
- For goods subject vtv5 trực tiếp bóng đá hôm nay environmental protection tax, the selling price includes environmental protection tax but excludes VAT.
- For goods subject vtv5 trực tiếp bóng đá hôm nay both special consumption tax and environmental protection tax, the selling price includes special consumption tax, environmental protection tax but excludes VAT.
When is the time vtv5 trực tiếp bóng đá hôm nay determine VAT in Vietnam?
As prescribed in Article 8 ofCircular 219/2013/TT-BTC, the time vtv5 trực tiếp bóng đá hôm nay determine VAT is as follows:
- For selling goods, it is the time of transferring the ownership or use rights of goods vtv5 trực tiếp bóng đá hôm nay the buyer, regardless of whether payment has been received.
- For providing services, it is the time of completing the service provision or the time of issuing the service invoice, regardless of whether payment has been received.
- For telecommunications services, it is the time of completing the reconciliation of data on telecommunications service charges per the economic contract between telecommunications service providers, but no later than 2 months from the month in which telecommunications service charges arise.
- For electricity and clean water supply activities, it is the date of reading the consumption meter for billing purposes.
- For real estate business activities and construction of infrastructure and housing for sale, transfer, or lease, it is the time of receiving payment according vtv5 trực tiếp bóng đá hôm nay project implementation progress or as stated in the contract. Based on the collected amounts, the business shall declare the output VAT arising in the period.
- For construction and installation, including shipbuilding, it is the time of acceptance and handover of the construction work, work item, or completed construction volume, regardless of whether payment has been received.
- For imported goods, it is the time of customs declaration registration.
