trực tiếp bóng đá euro hôm nayWhat are cases where VAT is refunded monthly and quarterly in Vietnam?

What are cases whereVAT isrefunded monthly and quarterly in Vietnam?

Pursuant to Clause 2, Article 13 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2008as amended by Clause 7, Article 1 of trực tiếp bóng đá euro hôm nayLaw on Amendments and Supplements to trực tiếp bóng đá euro hôm nay Law on Value-Added Tax 2013, trực tiếp bóng đá euro hôm nay specific provisions regarding tax refunds are as follows:

Cases of Tax Refunds

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2. Business establishments in a month or quarter having exported goods or services, with trực tiếp bóng đá euro hôm nay value-added tax input of 300 million VND or more that has not yet been credited, shall be entitled to a value-added tax refund on a monthly or quarterly basis.

3. Business establishments adopting trực tiếp bóng đá euro hôm nay input deduction method for value-added tax shall be granted a value-added tax refund upon a change of ownership, change of business, merger, consolidation, division, separation, dissolution, bankruptcy, or cessation of operation, provided there is excess paid value-added tax or non-credited input tax.

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Thus, under trực tiếp bóng đá euro hôm nay above regulations, trực tiếp bóng đá euro hôm nay circumstances under which value-added tax is refunded monthly and quarterly include business establishments in a month or quarter with exported goods or services when trực tiếp bóng đá euro hôm nay non-credited value-added tax input is 300 million VND or more.

What are cases where VAT is refunded monthly and quarterly in Vietnam?(Image from trực tiếp bóng đá euro hôm nay Internet)

What are regulations on handling of overpaid tax, late payment interest and finesin Vietnam?

According to Article 60 of trực tiếp bóng đá euro hôm nayLaw on Tax Administration 2019, specific regulations on handling overpaid tax, late payment interest, and fines are as follows:

[1]Taxpayers who have paid more in taxes, late payment interest, and fines than trực tiếp bóng đá euro hôm nay amount they were supposed to, may offset trực tiếp bóng đá euro hôm nay excess amount against outstanding taxes, late payment interest, and fines or apply it against upcoming tax obligations. They may also request a refund if they have no outstanding tax debts or fines.

In cases where taxpayers suggest offsetting excess payments with outstanding debts, late payment interest will not be calculated on trực tiếp bóng đá euro hôm nay offset amount from trực tiếp bóng đá euro hôm nay date trực tiếp bóng đá euro hôm nay overpayment arises until tax authorities apply trực tiếp bóng đá euro hôm nay offset.

[2]If taxpayers request a refund of excess taxes, late payment interest, and fines, trực tiếp bóng đá euro hôm nay tax authority must issue a decision to refund trực tiếp bóng đá euro hôm nay excess amount or provide a written explanation within 5 working days from trực tiếp bóng đá euro hôm nay date of receiving trực tiếp bóng đá euro hôm nay request.

[3]overpaid tax, late payment interest, and fines will not be refunded, and trực tiếp bóng đá euro hôm nay tax authority will clear these amounts in trực tiếp bóng đá euro hôm nay accounting books and electronic data systems in trực tiếp bóng đá euro hôm nay following situations:

- trực tiếp bóng đá euro hôm nay tax authority has notified trực tiếp bóng đá euro hôm nay taxpayer about trực tiếp bóng đá euro hôm nay excess refund, but trực tiếp bóng đá euro hôm nay taxpayer refuses trực tiếp bóng đá euro hôm nay refund in writing;

- trực tiếp bóng đá euro hôm nay taxpayer is not operating at trực tiếp bóng đá euro hôm nay registered address with trực tiếp bóng đá euro hôm nay tax authority, and there has been a public notice of trực tiếp bóng đá euro hôm nay overpaid amount for 1 year without a written request for a refund from trực tiếp bóng đá euro hôm nay taxpayer;

- trực tiếp bóng đá euro hôm nay overpayment has been left unclaimed for more than 10 years from trực tiếp bóng đá euro hôm nay date of payment to trực tiếp bóng đá euro hôm nay state budget, where trực tiếp bóng đá euro hôm nay taxpayer has neither offset tax obligations nor requested a refund.

[4]In trực tiếp bóng đá euro hôm nay case of inactive taxpayers at their registered business address who have overpaid taxes, late payment interest, and fines, trực tiếp bóng đá euro hôm nay tax authority will offset these against any outstanding taxes, late payment interest, and fines.

Note

trực tiếp bóng đá euro hôm nay Minister of Finance will regulate trực tiếp bóng đá euro hôm nay authority and procedures for handling overpaid taxes, late payment interest, and fines as stated in this Article.

What is trực tiếp bóng đá euro hôm nay time limit for processing tax refund claims in Vietnam?

According to Article 75 of trực tiếp bóng đá euro hôm nayLaw on Tax Administration 2019, trực tiếp bóng đá euro hôm nay specific timeline for processing tax refund claims is as follows:

- For applications eligible for a prior refund, trực tiếp bóng đá euro hôm nay tax authority must decide on trực tiếp bóng đá euro hôm nay refund within 6 working days from trực tiếp bóng đá euro hôm nay date of notification about application acceptance and trực tiếp bóng đá euro hôm nay tax refund processing time. Alternatively, it should inform trực tiếp bóng đá euro hôm nay taxpayer about moving trực tiếp bóng đá euro hôm nay application to audit before refunding if stipulated by Clause 2, Article 73 of trực tiếp bóng đá euro hôm nayLaw on Tax Administration 2019or decline trực tiếp bóng đá euro hôm nay refund if trực tiếp bóng đá euro hôm nay application is insufficient for a tax refund.

- If trực tiếp bóng đá euro hôm nay declared information in trực tiếp bóng đá euro hôm nay tax refund claim differs from that in trực tiếp bóng đá euro hôm nay tax authority's management, trực tiếp bóng đá euro hôm nay tax authority must notify trực tiếp bóng đá euro hôm nay taxpayer in writing to provide explanations or additional information. trực tiếp bóng đá euro hôm nay time for explanations or additional information is not counted in trực tiếp bóng đá euro hôm nay processing time for a tax refund claim.

- For applications subject to pre-refund audits, trực tiếp bóng đá euro hôm nay tax authority must make a refund decision no later than 40 days from trực tiếp bóng đá euro hôm nay date of written notification about trực tiếp bóng đá euro hôm nay application acceptance and processing time. Refunds may be denied if trực tiếp bóng đá euro hôm nay application lacks trực tiếp bóng đá euro hôm nay criteria for a tax refund.

- If trực tiếp bóng đá euro hôm nay deadlines outlined in Clause 1 and Clause 2 of Article 75Law on Tax Administration 2019are exceeded due to tax authorities’ errors, interest at a rate of 0.03% per day on trực tiếp bóng đá euro hôm nay refund amount for each day delayed must be paid by trực tiếp bóng đá euro hôm nay tax authority. trực tiếp bóng đá euro hôm nay interest payment is sourced from trực tiếp bóng đá euro hôm nay central budget as per national budgeting regulations.