Is đá bóng trực tiếp insurance on domestic animals subject to value-added tax in Vietnam? What are regulations on taxable price in Vietnam?
Is đá bóng trực tiếp insurance on domestic animalssubject to value-added tax in Vietnam?
Pursuant to Clause 7, Article 5 of đá bóng trực tiếpLaw on value-added tax 2008, supplemented by Clause 1, Article 3 of đá bóng trực tiếpLaw Amending đá bóng trực tiếp Tax Laws 2014and amended by Clause 1, Article 1 of đá bóng trực tiếpLaw on Amendments to Law on value-added tax 2013, there are specific regulations regarding non-taxable objects as follows:
Non-taxable Objects
...
- Irrigation and drainage services; plowing and harrowing of land; dredging of internal field canals and ditches for agricultural production; agricultural product harvesting services.
3a. Fertilizers; specialized machinery and equipment used for agricultural production; offshore fishing vessels; livestock, poultry, and other animal feeds.
...
- State-owned housing sold by đá bóng trực tiếp State to current tenants.
- Land use right transfer.
- Life insurance, health insurance, student insurance, other human-related insurance services;livestock insurance, crop insurance, other agricultural insurance services; insurance of ships, boats, equipment, and other necessary tools directly serving đá bóng trực tiếp capture of aquatic products; reinsurance.
...
Hence, according to đá bóng trực tiếp above regulation, livestock insurance is not subject to value-added tax (VAT).
Is đá bóng trực tiếp insurance on domestic animals subject to value-added tax in Vietnam? What are regulations on taxable price in Vietnam?(Image from Internet)
What entities are taxpayers in Vietnam?
According to Article 4 of đá bóng trực tiếpLaw on value-added tax 2008, đá bóng trực tiếp specific regulations about VAT taxpayers are as follows:
VAT taxpayers are organizations and individuals producing and trading goods and services subject to VAT (hereinafter called business establishments) and organizations and individuals importing goods subject to VAT (hereinafter called importers).
What are regulations ontaxable price in Vietnam?
According to Article 7 of đá bóng trực tiếpLaw on value-added tax 2008, as amended by Clause 2, Article 1 of đá bóng trực tiếpLaw on Amendments to Law on value-added tax 2013and đá bóng trực tiếp regulation on exchange rates when determining đá bóng trực tiếp taxable price was abolished by Point c, Clause 2, Article 6 of đá bóng trực tiếpLaw Amending đá bóng trực tiếp Tax Laws 2014, đá bóng trực tiếp specific regulations on đá bóng trực tiếp taxable price are as follows:
- For goods and services produced, traded, and sold by business establishments, it is đá bóng trực tiếp selling price not including VAT; for goods and services subject to special consumption tax, it is đá bóng trực tiếp selling price including special consumption tax but excluding VAT; for goods subject to environmental protection tax, it is đá bóng trực tiếp selling price including environmental protection tax but excluding VAT; for goods subject to both special consumption tax and environmental protection tax, it is đá bóng trực tiếp selling price including both special consumption tax and environmental protection tax but excluding VAT.
- For imported goods, it is đá bóng trực tiếp import price at đá bóng trực tiếp border gate plus import duty (if any), plus special consumption tax (if any), and plus environmental protection tax (if any). đá bóng trực tiếp import price at đá bóng trực tiếp border gate is determined according to regulations on đá bóng trực tiếp taxable price of imported goods.
- For goods and services used for exchange, internal consumption, and gifting, it is đá bóng trực tiếp VAT-taxable price of similar goods and services or equivalent at đá bóng trực tiếp time these activities occur.
- For leasing activities, it is đá bóng trực tiếp rental amount excluding VAT.
- In cases of periodic or pre-paid rental for a lease term, đá bóng trực tiếp taxable price is đá bóng trực tiếp rental amount paid periodically or pre-paid for đá bóng trực tiếp lease term excluding VAT.
In cases of leasing machinery, equipment, vehicles from abroad that are not produced domestically to lease them out, đá bóng trực tiếp taxable price is đá bóng trực tiếp rental fee minus đá bóng trực tiếp rental fee payable to đá bóng trực tiếp foreign party.
- For goods sold on installment payment, it is đá bóng trực tiếp taxable price calculated based on đá bóng trực tiếp one-time payment selling price excluding VAT, excluding installment interest, and delayed payment interest.
- For goods processing, it is đá bóng trực tiếp processing price excluding VAT.
- For construction and installation activities, it is đá bóng trực tiếp value of đá bóng trực tiếp work, construction item, or parts delivered excluding VAT. In cases of construction and installation without inclusive supply of raw materials, machinery, and equipment, đá bóng trực tiếp taxable price is đá bóng trực tiếp value of construction and installation excluding đá bóng trực tiếp value of raw materials and machinery and equipment.
- For real estate business activities, it is đá bóng trực tiếp selling price of real estate excluding VAT, except for đá bóng trực tiếp value of land use right transfer or land rent payments due to đá bóng trực tiếp State budget.
- For agency and brokerage activities for buying and selling goods and services earning commission, it is đá bóng trực tiếp commission earned from these activities excluding VAT.
- For goods and services using payment documents indicating đá bóng trực tiếp payment price including VAT, đá bóng trực tiếp taxable price is determined by đá bóng trực tiếp following formula:
Price excluding VAT = Payment price / (1 + VAT rate for goods, services (%))
- đá bóng trực tiếp taxable price for goods and services stipulated in Clause 1, Article 7 of đá bóng trực tiếpLaw on value-added tax 2008includes additional surcharges and fees that business establishments are entitled to.
