What day is December 12? Are promotional goods subject xem bóng đá trực tiếp trên youtube VAT in Vietnam?
Vietnam: What day is December 12?
December 12 is a major discount event originating from China according xem bóng đá trực tiếp trên youtube the Gregorian calendar. It is known as "Shuangshier" or "Shopper's Mercy Day", "Discount If Desired". It is also considered a variation of the mega sale day in celebration of Singles' Day on November 11.
Besides, December 12 is also known as the end-of-year online shopping festival, a significant event akin xem bóng đá trực tiếp trên youtube September 9, Black Friday, and Cyber Monday. This is the last opportunity in the year for businesses xem bóng đá trực tiếp trên youtube engage in deep discount programs, stimulate consumer demand, and clear inventory in preparation for the New Year. Consumers can also take advantage of this day xem bóng đá trực tiếp trên youtube shop for their favorite items at a discounted price.
For businesses, this is a smart strategy xem bóng đá trực tiếp trên youtube boost sales. At this time of year-end, customers tend xem bóng đá trực tiếp trên youtube shop extensively. Launching promotional programs will contribute xem bóng đá trực tiếp trên youtube further strengthening the buying motivation. In Vietnam, the events of December 12 are strongly embraced. Many brands and stores have already announced their sales programs for this day. Items undergoing substantial discounts include household goods, kitchen appliances, electronic devices, etc.
Additionally, according xem bóng đá trực tiếp trên youtube the lunar calendar, December 12 is the anniversary of the founding of the tailoring profession. This day holds special significance for those in the tailoring industry, serving as an important occasion xem bóng đá trực tiếp trên youtube express gratitude and remembrance xem bóng đá trực tiếp trên youtube those who have contributed xem bóng đá trực tiếp trên youtube fostering and passing down the craft. It carries a profound meaning about the Vietnamese moral principle of "When drinking water, remember its source."
Note: Information is for reference purposes only!
Vietnam: What day is December 12?(Image from Internet)
Are promotional goodssubject xem bóng đá trực tiếp trên youtube VAT in Vietnam?
Pursuant xem bóng đá trực tiếp trên youtube Clause 5, Article 7 ofCircular 219/2013/TT-BTCstipulating the calculation of VAT on promotional goods as follows:
Taxable Price
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- For products, goods, and services used for promotion as regulated by the commercial law, the taxable price is determined xem bóng đá trực tiếp trên youtube be zero (0); if goods and services used for promotion are not conducted in accordance with commercial law, they must be declared and taxed as goods and services used for internal consumption, gifts, presents, and donations.
Specific promotional forms are as follows:
a) For promotional forms such as providing free samples, giving goods xem bóng đá trực tiếp trên youtube customers, offering free services, the taxable price for sample goods and services is zero.
In case the promotional program in December 2014 is not implemented according xem bóng đá trực tiếp trên youtube the correct order, procedures per commercial law, Company TNHH P must declare and calculate VAT on the gifted products when purchasing products in December 2014.
b) For the form of selling goods or services at a lower price compared xem bóng đá trực tiếp trên youtube previous sales, the VAT taxable price is the reduced sales price applied during the registered or notified promotional period.
The VAT taxable price for a recharge card with a value of 100,000 VND during the promotional period is calculated as follows:
c) For promotional forms of sales or service provision that include vouchers or service usage certificates, there is no requirement xem bóng đá trực tiếp trên youtube declare and calculate VAT on those vouchers or service usage certificates.
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For promotional goods in accordance with commercial law, the taxable price is determined xem bóng đá trực tiếp trên youtube be zero (0).
In cases where goods and services are used for promotion but not conducted according xem bóng đá trực tiếp trên youtube commercial law, they must be declared and taxed similarly xem bóng đá trực tiếp trên youtube goods and services for internal consumption, gifting, and donations.
Therefore, promotional goods are not subject xem bóng đá trực tiếp trên youtube VAT if complying with the commercial law.
Shall an invoice be issued when sellingpromotional goods in Vietnam?
According xem bóng đá trực tiếp trên youtube Clause 1, Article 4 ofDecree 123/2020/ND-CPregulating the principles of making, managing, and using invoices and documents as follows:
Principles of Making, Managing, and Using Invoices and Documents
1. When selling goods, providing services, the seller must issue an invoice xem bóng đá trực tiếp trên youtube the buyer (including cases where goods and services are used for promotions, advertisements, samples; goods and services used for gifts, donations, exchanges, payments instead of wages xem bóng đá trực tiếp trên youtube employees, and internal consumption (except goods circulated internally for continued production); issuing goods under forms of lending, borrowing, or returning goods) and must fully record the contents as regulated in Article 10 of this Decree. In cases of using electronic invoices, they must adhere xem bóng đá trực tiếp trên youtube the standard data format from the tax authority as regulated in Article 12 of this Decree.
- When deducting personal income tax, collecting taxes, fees, and charges, the deducting organization must issue a tax deduction certificate, tax receipt, fee receipt xem bóng đá trực tiếp trên youtube the individual subject xem bóng đá trực tiếp trên youtube tax deduction, taxpayer, fee payer, and must fully record the contents as regulated in Article 32 of this Decree. In cases of using electronic receipts, they must adhere xem bóng đá trực tiếp trên youtube the standard data format from the tax authority. In case an individual authorizes the tax finalization, a personal income tax deduction certificate is not issued.
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Thus, according xem bóng đá trực tiếp trên youtube the above regulation, the seller must issue an invoice xem bóng đá trực tiếp trên youtube the buyer, including cases where goods and services are used for promotions.
