VAT rate increased from 5% to 10% for film production services in Vietnam: What are significant amendments in bóng đá hôm nay trực tiếp draft Value-Added Tax Law?
VAT rateincreased from 5% to 10% for film production services according to bóng đá hôm nay trực tiếp draft Law on Value-Added Tax?
bóng đá hôm nay trực tiếp amendment to bóng đá hôm nay trực tiếp Law on Value-Added Tax (VAT), especially bóng đá hôm nay trực tiếp proposal to increase VAT on film production services from 5% to 10%, has been put forward. Specifically, bóng đá hôm nay trực tiếp draft Law on Value-Added Tax (amended) has made some important adjustments related to service sectors, including culture, sports, arts, and cinema.
According to bóng đá hôm nay trực tiếp draft amendment, Clause 2, Article 9 of bóng đá hôm nay trực tiếp draft Law on Value-Added Tax will remove bóng đá hôm nay trực tiếp 5% tax rate for goods and services involved in cultural activities, exhibitions, sports, arts performances, film production, import, distribution, and screening. This means that cinema services, which previously enjoyed a preferential VAT rate of 5%, will now be subject to bóng đá hôm nay trực tiếp standard 10% tax rate.
Draft Law on Value-Added Tax...download
Note:bóng đá hôm nay trực tiếp above information is for reference purposes only!
VAT rate increased from 5% to 10% for film production services in Vietnam: What are significant amendments in bóng đá hôm nay trực tiếp draft VATLaw?(Image from bóng đá hôm nay trực tiếp Internet)
What is bóng đá hôm nay trực tiếp current VAT rate for film production services in Vietnam?
Based on point n, Clause 2, Article 8 of bóng đá hôm nay trực tiếpLaw on Value-Added Tax 2008, supplemented by Clause 3, Article 1 of bóng đá hôm nay trực tiếpLaw on Value-Added Tax Amended 2013and amended by Article 3 of bóng đá hôm nay trực tiếpLaw Amending Tax Laws 2014, there is a specific provision on bóng đá hôm nay trực tiếp 5% tax rate as follows:
Tax rate
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- bóng đá hôm nay trực tiếp 5% tax rate applies to bóng đá hôm nay trực tiếp following goods and services:
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d) Services of digging, dredging channels, canals, lakes for agricultural production; cultivation, care, pest protection for crops; preliminary processing, and preservation of agricultural products;
đ) Unprocessed products from farming, livestock, aquaculture, excluding products specified in Clause 1, Article 5 of this Law;
e) Raw rubber; raw resin; nets, ropes, and yarn for knitting fishing nets;
g) Fresh food; unprocessed forestry products, excluding wood, bamboo, and products specified in Clause 1, Article 5 of this Law;
h) Sugar; by-products in sugar production, including molasses, bagasse, mud residue;
i) Products made from jute, sedge, bamboo, rattan, straw, coconut shells, water hyacinth, and other handicraft products made from agricultural by-products; raw cotton; newsprint;
k) Specialized machines and equipment for agricultural production, including plows, harrows, seeders, threshers, harvesters, integrated harvesters, agricultural product harvesters, pesticide sprayers or tanks;
l) Medical equipment and tools; medical cotton, bandages; preventive and curative medicines; pharmaceutical products and herbal medicines used as raw materials for producing curative and preventive medicines;
m) Teaching and learning aids, including models, illustrations, boards, chalk, rulers, compasses, and specialized teaching, research, and scientific experimentation tools;
n) Cultural, exhibition, sports activities; art performances, film production; import, distribution, and screening of films;
o) Children's toys; all types of books, excluding those specified in Clause 15, Article 5 of this Law;
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Thus, according to bóng đá hôm nay trực tiếp above regulations, bóng đá hôm nay trực tiếp current tax rate for film production services is 5%.
How to determine bóng đá hôm nay trực tiếp VAT base price in Vietnam?
According to Article 7 of bóng đá hôm nay trực tiếpLaw on Value-Added Tax 2008, as amended by Clause 2, Article 1 of bóng đá hôm nay trực tiếpLaw on Value-Added Tax Amended 2013and bóng đá hôm nay trực tiếp provision on exchange rates when determining bóng đá hôm nay trực tiếp taxable value abolished by point c, Clause 2, Article 6 of bóng đá hôm nay trực tiếpLaw Amending Tax Laws 2014, bóng đá hôm nay trực tiếp specific regulations on bóng đá hôm nay trực tiếp taxable value are as follows:
- For goods and services produced and sold by business establishments, bóng đá hôm nay trực tiếp price is bóng đá hôm nay trực tiếp selling price exclusive of VAT; for goods and services subject to special consumption tax, bóng đá hôm nay trực tiếp price includes special consumption tax but excludes VAT; for goods subject to environmental protection tax, bóng đá hôm nay trực tiếp price includes environmental protection tax but excludes VAT; for goods subject to both special consumption and environmental protection taxes, bóng đá hôm nay trực tiếp price includes such taxes but excludes VAT;
- For imported goods, bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp import price at bóng đá hôm nay trực tiếp port plus import tax (if any), plus special consumption tax (if any), and plus environmental protection tax (if any). bóng đá hôm nay trực tiếp import price at bóng đá hôm nay trực tiếp port is determined according to regulations on taxable value for imported goods;
- For goods and services used for exchange, internal consumption, gifting, etc., bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp VAT taxable value of similar goods and services at bóng đá hôm nay trực tiếp time these activities occur;
- For asset leasing activities, it is bóng đá hôm nay trực tiếp rental amount excluding VAT.
- In case of leasing with periodical payments or advance payments for bóng đá hôm nay trực tiếp lease period, bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp rental amount paid per period or in advance for bóng đá hôm nay trực tiếp period excluding VAT;
- bóng đá hôm nay trực tiếp case of leasing with periodical payments or advance payments for a lease period, bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp rental amount paid per period or in advance for bóng đá hôm nay trực tiếp lease period excluding VAT;
In bóng đá hôm nay trực tiếp case of leasing machinery, equipment, transport vehicles from abroad that are not produced domestically for subleasing, bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp rental payable to foreign entities deducted.
- For goods sold on an installment or deferred payment basis, bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp one-time payment selling price excluding VAT, not including installment interest or deferred interest;
- For processing goods, it is bóng đá hôm nay trực tiếp processing price excluding VAT;
- For construction and installation activities, it is bóng đá hôm nay trực tiếp value of bóng đá hôm nay trực tiếp work, work items, or parts handed over excluding VAT. In cases of construction and installation without materials, machinery, or equipment, bóng đá hôm nay trực tiếp taxable value is bóng đá hôm nay trực tiếp construction and installation value excluding material, machinery, and equipment values;
- For real estate business activities, it is bóng đá hôm nay trực tiếp selling price of real estate excluding VAT, except for land use right transfer prices or land rent payable to bóng đá hôm nay trực tiếp state budget;
- For agency and brokerage activities, receiving commission from purchasing and selling goods and services, it is bóng đá hôm nay trực tiếp commission income from these activities excluding VAT;
- For goods and services compensated with payment vouchers showing payment prices inclusive of VAT, bóng đá hôm nay trực tiếp taxable value is determined by bóng đá hôm nay trực tiếp following formula:
Taxable value excluding VAT = Payment price / (1 + applicable VAT rate (%))
- bóng đá hôm nay trực tiếp taxable value for goods, services specified in Clause 1, Article 7 of bóng đá hôm nay trực tiếpLaw on Value-Added Tax 2008includes surcharges and additional fees that businesses are entitled to.
