What are 05 functions of currency? Is trực tiếp bóng đá euro hôm nay unit of account used for recording entries into accounting books required to be trực tiếp bóng đá euro hôm nay Vietnamese dong?
What are 05 functions of currency?
Currency is a legal means of payment used to exchange goods and services within a region, country, or economy. trực tiếp bóng đá euro hôm nay currency has 05 specific functions as follows:
(1) Medium of Circulation:Currency is used for buying, selling, and exchanging goods and services without trực tiếp bóng đá euro hôm nay need to exchange goods directly with each other. trực tiếp bóng đá euro hôm nay function of trực tiếp bóng đá euro hôm nay medium of circulation is expressed through trực tiếp bóng đá euro hôm nay structure of goods - money - goods. This structure means that trực tiếp bóng đá euro hôm nay seller delivers goods to trực tiếp bóng đá euro hôm nay buyer and receives money, which is then used to purchase other goods.
(2) Measure of Value:Currency is used to measure trực tiếp bóng đá euro hôm nay value of goods and services.
(3) Means of Storing Value:Currency is used to store trực tiếp bóng đá euro hôm nay value of goods and services.
(4) Means of Payment:Currency is used to settle debts, and obligations fulfill trực tiếp bóng đá euro hôm nay role of a means of payment; it does not act as an intermediary in circulation but as a supplementary component. trực tiếp bóng đá euro hôm nay process of currency circulation operates independently without depending on trực tiếp bóng đá euro hôm nay process of exchanging goods.
(5) World Currency:Currency is used in international trade transactions outside trực tiếp bóng đá euro hôm nay territory of Vietnam. For example, Vietnam uses trực tiếp bóng đá euro hôm nay Vietnamese dong for transactions with other countries but may also use trực tiếp bóng đá euro hôm nay US dollar or euro.
Additionally, currency serves as a means to expand and develop international relations. Therefore, it can be said that currency is indispensable in trực tiếp bóng đá euro hôm nay circulation of goods as well as trực tiếp bóng đá euro hôm nay operation of trực tiếp bóng đá euro hôm nay economy.
Note: trực tiếp bóng đá euro hôm nay above content is for reference only!
What are 05 functions of currency?Is trực tiếp bóng đá euro hôm nay unit of account used for recording entries into accounting books required to be trực tiếp bóng đá euro hôm nay Vietnamese dong?(Image from trực tiếp bóng đá euro hôm nay Internet)
Is trực tiếp bóng đá euro hôm nay unit of account used for recording entries into accounting books required to be trực tiếp bóng đá euro hôm nay Vietnamese dong?
Based on Article 7 ofCircular 111/2021/TT-BTC, it is stipulated as follows:
Currency Unit in Tax Accounting
- trực tiếp bóng đá euro hôm nay currency unit in tax accounting is trực tiếp bóng đá euro hôm nay Vietnamese dong, used to record tax accounting books, prepare, and present tax accounting reports.
- In trực tiếp bóng đá euro hôm nay case where trực tiếp bóng đá euro hôm nay tax authority during trực tiếp bóng đá euro hôm nay execution of tax management duties for taxpayers who declare and pay taxes in foreign currency according to trực tiếp bóng đá euro hôm nay Law on Tax Administration and guiding documents, must convert into Vietnamese dong when collecting input information for tax accounting to record tax accounting books, prepare, and present tax accounting reports in Vietnamese dong. Specifically, as follows:
a) trực tiếp bóng đá euro hôm nay exchange rate for trực tiếp bóng đá euro hôm nay amount payable when taxpayers declare taxes in foreign currency is trực tiếp bóng đá euro hôm nay exchange rate determined by trực tiếp bóng đá euro hôm nay Ministry of Finance (State Treasury) at trực tiếp bóng đá euro hôm nay time of accounting.
b) trực tiếp bóng đá euro hôm nay exchange rate for trực tiếp bóng đá euro hôm nay amount collected when taxpayers pay taxes in foreign currency is trực tiếp bóng đá euro hôm nay exchange rate on trực tiếp bóng đá euro hôm nay accounting document transmitted by trực tiếp bóng đá euro hôm nay State Treasury to trực tiếp bóng đá euro hôm nay tax authority.
c) trực tiếp bóng đá euro hôm nay exchange rate for surplus payment in foreign currency processed for offsetting trực tiếp bóng đá euro hôm nay state budget or refunded by trực tiếp bóng đá euro hôm nay state budget to Vietnamese dong is trực tiếp bóng đá euro hôm nay exchange rate prescribed at point a.5 clause 1 Article 25 and clause 4 Article 46 of Circular No. 80/2021/TT-BTC dated September 29, 2021, by trực tiếp bóng đá euro hôm nay Ministry of Finance guiding trực tiếp bóng đá euro hôm nay implementation of certain provisions of trực tiếp bóng đá euro hôm nay Law on Tax Administration and Decree No. 126/2020/ND-CP dated October 19, 2020, of trực tiếp bóng đá euro hôm nay Government of Vietnam.
Thus, trực tiếp bóng đá euro hôm nay currency unit in tax accounting must be trực tiếp bóng đá euro hôm nay Vietnamese dong.
In trực tiếp bóng đá euro hôm nay case where trực tiếp bóng đá euro hôm nay tax authority during trực tiếp bóng đá euro hôm nay execution of tax management duties for taxpayers who declare and pay taxes in foreign currency according to trực tiếp bóng đá euro hôm nay Law on Tax Administration and guiding documents, must convert into Vietnamese dong when collecting input information for tax accounting to record tax accounting books, prepare, and present tax accounting reports in Vietnamese dong.
What are regulations onthe preparation of tax accounting reports in Vietnam?
Based on clause 3 Article 6 ofCircular 111/2021/TT-BTC, it is stipulated as follows:
Contents of Tax Accounting
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- trực tiếp bóng đá euro hôm nay preparation of tax accounting reports is trực tiếp bóng đá euro hôm nay work of tax accountants performed automatically by trực tiếp bóng đá euro hôm nay Tax Accounting Subsystem or by officials doing tax accounting work to aggregate trực tiếp bóng đá euro hôm nay tax management results of tax authorities at all levels (including taxes to be collected, collected, still to be collected, to be refunded, refunded, still to be refunded, exempted, reduced, deferred, canceled) as prescribed in Section 4, Chapter II of this Circular.
- Storing and providing tax accounting information and documents are trực tiếp bóng đá euro hôm nay work of tax accountants performed according to trực tiếp bóng đá euro hôm nay provisions of Article 9 of this Circular.
Thus, trực tiếp bóng đá euro hôm nay preparation of tax accounting reports is trực tiếp bóng đá euro hôm nay work of tax accountants performed automatically by trực tiếp bóng đá euro hôm nay Tax Accounting Subsystem or by officials doing tax accounting work to aggregate trực tiếp bóng đá euro hôm nay tax management results of tax authorities at all levels (including taxes to be collected, collected, still to be collected, to be refunded, refunded, still to be refunded, exempted, reduced, deferred, canceled) as prescribed in Section 4, Chapter 2 ofCircular 111/2021/TT-BTC.
