Shall 0% VAT rate apply trực tiếp bóng đá hôm nay euro credit service in Vietnam? Which entities are value-added taxpayers in Vietnam?

Shall0% VAT rate apply trực tiếp bóng đá hôm nay euro credit service in Vietnam?

Based on Clause 1 Article 8 of thevalue-added tax Law 2008as amended by Clause 3 Article 1 of theAmended value-added tax Law 2013and Clause 2 Article 1 ofLaw No. 106/2016/QH13, the specific stipulations regarding the 0% tax rate are as follows:

Tax Rate

1. A 0% tax rate is applicable trực tiếp bóng đá hôm nay euro exported goods and services, international transport, and goods and services not subject trực tiếp bóng đá hôm nay euro value-added tax as specified in Article 5 of this Law when exported,except for the following cases:

a) Transfer of technology, assignment of intellectual property rights abroad;

b) Reinsurance services abroad;

c) Credit services;

d) Capital transfer;

đ) Derivatives;

e) Postal and telecommunications services;

g) Export products as stipulated in Clause 23 Article 5 of this Law.

Exported goods and services are those consumed outside Vietnam, in non-tariff zones; goods and services provided trực tiếp bóng đá hôm nay euro foreign clients according trực tiếp bóng đá hôm nay euro the regulations of the Government of Vietnam."

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Based on the above provisions, credit services are not subject trực tiếp bóng đá hôm nay euro the 0% value-added tax rate.

Shall 0% VAT rate apply trực tiếp bóng đá hôm nay euro credit service in Vietnam? Which entities are value-added taxpayers in Vietnam? (Image from the Internet)

Which credit services are subject trực tiếp bóng đá hôm nay euro value-added tax in Vietnam?

According trực tiếp bóng đá hôm nay euro Point a Clause 8 Article 4 ofCircular 219/2013/TT-BTCas amended by Clause 3 Article 1 ofCircular 26/2015/TT-BTC, specific credit services not subject trực tiếp bóng đá hôm nay euro value-added tax are stipulated as follows:

(1) Lending

(2) Discounting, rediscounting of negotiable instruments and other valuable papers

(3) Bank guarantees

(4) Financial leasing

(5) Credit card issuance

- In cases where credit institutions collect fees related trực tiếp bóng đá hôm nay euro credit card issuance, fees collected from customers as part of the credit service process (card issuance fees) under the credit institution's lending regulations for clients, such as early repayment fees, late payment penalties, debt restructuring, loan management, and other fees, are not subject trực tiếp bóng đá hôm nay euro value-added tax.

- Regular credit card transaction fees not part of the credit granting process, such as fees for reissuing credit card PINs, providing copies of transaction invoices, chargeback fees, reporting lost or stolen credit cards, credit card cancellation fees, credit card type conversion fees, and other fees, are subject trực tiếp bóng đá hôm nay euro value-added tax.

(6)Domestic factoring; international factoring for banks authorized trực tiếp bóng đá hôm nay euro conduct international payment;

(7)Sale of debt-secured collateral by the credit institution or by the enforcement agency or the borrower itself if authorized by the lender trực tiếp bóng đá hôm nay euro sell the collateral trực tiếp bóng đá hôm nay euro repay the secured loan, specifically:

- The collateral being sold is a secured transaction asset registered with the competent authority as per regulations on secured transaction registration.

- Handling of the collateral complies with the law on secured transactions.

(8)When the repayment term expires, if the asset owner cannot repay the debt and has trực tiếp bóng đá hôm nay euro transfer the collateral trực tiếp bóng đá hôm nay euro the credit institution trực tiếp bóng đá hôm nay euro handle according trực tiếp bóng đá hôm nay euro the law, the involved parties shall perform the transfer procedures as per legal regulations without issuing a VAT invoice.

(9)When a credit institution receives collateral trực tiếp bóng đá hôm nay euro replace the repayment obligation, they shall account for the increase in asset value for business operations as per regulations. If the asset is subject trực tiếp bóng đá hôm nay euro VAT upon sale, the credit institution must declare and pay VAT in accordance with regulations.

(10)Credit information services provided by units or organizations under the State Bank of Vietnam trực tiếp bóng đá hôm nay euro credit institutions for use in credit granting activities as per the State Bank Law.

(11)Other forms of credit granting in accordance with law.

Who pays value-added tax?

According trực tiếp bóng đá hôm nay euro Article 4 of thevalue-added tax Law 2008, the specifics regarding the taxpayers are as follows:

Value-added tax payers are organizations and individuals that produce or trade goods and services subject trực tiếp bóng đá hôm nay euro VAT (hereinafter referred trực tiếp bóng đá hôm nay euro as business establishments) and organizations and individuals that import goods subject trực tiếp bóng đá hôm nay euro VAT (hereinafter referred trực tiếp bóng đá hôm nay euro as importers).