Who shall stipulate the currencies of kết quả bóng đá trực tiếp and payment using foreign convertible currencies in Vietnam?
What is the currency of kết quả bóng đá trực tiếp in Vietnam?
Based on Article 7 of theLaw on kết quả bóng đá trực tiếp Administration 2019, the regulations are as follows:
Currency of kết quả bóng đá trực tiếp and payment
1. The currency for kết quả bóng đá trực tiếp and payment is Vietnamese Dong, except for cases where kết quả bóng đá trực tiếp and payment are allowed in convertible foreign currencies.
2. Taxpayers who keep accounting records in foreign currency as regulated by the Law on Accounting must convert them to Vietnamese Dong at the actual transaction exchange rate at the time the transaction occurs.
3. For exported and imported goods, the currency for tax payment is Vietnamese Dong, except for cases where kết quả bóng đá trực tiếp and payment in convertible foreign currencies are allowed. The tax rate is determined by the legal regulations on customs.
4. The Minister of Finance stipulates the currency for kết quả bóng đá trực tiếp and payment in convertible foreign currencies as prescribed in Clauses 1 and 3, and the actual transaction exchange rate as prescribed in Clause 2 of this Article.
The currency for kết quả bóng đá trực tiếp is Vietnamese Dong, except for cases where the declaration is allowed in convertible foreign currencies.
Who shall stipulate the currencies of kết quả bóng đá trực tiếp and payment using foreign convertible currencies in Vietnam?(Image from the Internet)
Who shall stipulate the currencies of kết quả bóng đá trực tiếp and payment using foreign convertible currencies in Vietnam?
Based on Article 7 of theLaw on kết quả bóng đá trực tiếp Administration 2019, the regulations are as follows:
Currency of kết quả bóng đá trực tiếp and payment
1. The currency for kết quả bóng đá trực tiếp and payment is Vietnamese Dong, except for cases where kết quả bóng đá trực tiếp and payment in convertible foreign currencies are allowed.
2. Taxpayers who keep accounting records in foreign currency as regulated by the Law on Accounting must convert them to Vietnamese Dong at the actual transaction exchange rate at the time the transaction occurs.
3. For exported and imported goods, the currency for tax payment is Vietnamese Dong, except for cases where kết quả bóng đá trực tiếp and payment in convertible foreign currencies are allowed. The tax rate follows the legal regulations on customs.
4. The Minister of Finance stipulates the currency for kết quả bóng đá trực tiếp and payment in convertible foreign currencies as prescribed in Clauses 1 and 3, and the actual transaction exchange rate as prescribed in Clause 2 of this Article.
The Minister of Finance shall stipulate the currencies of kết quả bóng đá trực tiếp and payment using foreign convertible currencies.
When are cases of kết quả bóng đá trực tiếp in convertible foreign currencies in Vietnam?
According to Article 4 ofCircular 80/2021/TT-BTC, kết quả bóng đá trực tiếp in convertible foreign currencies is regulated in the following cases:
- Activities related to exploration, search, and exploitation of oil and gas (except for crude oil, condensate, natural gas sold in the Vietnam market, or as otherwise regulated by the Government of Vietnam) include:
+ Natural resource kết quả bóng đá trực tiếp, corporate income kết quả bóng đá trực tiếp;
+ Surcharge on the shared profit of oil when crude oil prices increase;
+ Profit share of oil, gas of the host country;
+ Signature bonuses;
+ Discovery bonuses for commercial oil, gas;
+ Production bonuses; payment for reading and using oil, gas documents;
+ Compensation for failure to implement minimum commitments;
+ Corporate income kết quả bóng đá trực tiếp on income from transferring petroleum contract rights;
+ Special kết quả bóng đá trực tiếp, surcharges, corporate income kết quả bóng đá trực tiếp from surplus oil of Vietsovpetro Joint Venture's petroleum activities in Lot 09.1 are declared and paid into the state budget in convertible foreign currency used in payment transactions.
- Fees, charges, and other collections by the representative agencies of the Socialist Republic of Vietnam abroad:
Declared and paid into the state budget in convertible foreign currency as defined by the document regulating rates of fees, charges, and other collections.
- Fees, charges by organizations, entities in Vietnam permitted to collect fees, charges in foreign currency:
Declared and paid into the state budget in convertible foreign currency as defined by the document regulating rates of fees, charges.
- Business activities in e-commerce, digital platform-based business, and other services from foreign suppliers without permanent establishments in Vietnam:
Declared and paid into the state budget in convertible foreign currency.
What are the principles of kết quả bóng đá trực tiếp and calculation in Vietnam?
Principles of kết quả bóng đá trực tiếp and calculation according to Article 42 of theLaw on kết quả bóng đá trực tiếp Administration 2019are as follows:
- Taxpayers must accurately, truthfully, and fully declare the contents in the kết quả bóng đá trực tiếp form as stipulated by the Minister of Finance and submit all documents, materials as prescribed in the kết quả bóng đá trực tiếp dossier to the tax administration authority.
- Taxpayers self-calculate the kết quả bóng đá trực tiếp payable, except where kết quả bóng đá trực tiếp calculation is performed by the kết quả bóng đá trực tiếp administration as regulated by the Government of Vietnam.
- Taxpayers carry out kết quả bóng đá trực tiếp, tax calculation at the competent local tax authorities where their headquarters are located. For taxpayers who centralize accounting at their head office but have dependent units in different provinces, kết quả bóng đá trực tiếp is done at the head office, and tax calculation, allocation of tax obligations are done according to each locality entitled to the state budget revenue. The Minister of Finance provides detailed regulations on Clause 3 of Article 42 of theLaw on kết quả bóng đá trực tiếp Administration 2019.
- For business activities in e-commerce, digital platform-based business, and other services carried out by foreign suppliers without a permanent establishment in Vietnam, they are obligated to register, declare, and pay kết quả bóng đá trực tiếp directly or through authorized representatives in Vietnam as regulated by the Minister of Finance.
- Principles of declaration, determining transfer pricing for related transactions are regulated as follows:
+ Declare and determine related party transaction prices based on analysis, comparison with independent transactions, and the principle that the substance of operations and transactions determines kết quả bóng đá trực tiếp obligations, to determine kết quả bóng đá trực tiếp obligations as in independent transaction conditions;
+ Related party transaction prices are adjusted according to independent transactions to declare, determine the kết quả bóng đá trực tiếp payable in principle not to reduce taxable income;
+ Small-scale taxpayers, with low kết quả bóng đá trực tiếp risks, are exempt from implementing the provisions at Points a and b of Clause 5 of Article 42 of theLaw on kết quả bóng đá trực tiếp Administration 2019and may apply simplified mechanisms in declaring, determining related party transaction prices.
- Principles of kết quả bóng đá trực tiếp regarding advance pricing agreements on determining tax calculation methods are regulated as follows:
+ The application of advance pricing agreements on determining kết quả bóng đá trực tiếp calculation methods is based on the taxpayer's request, agreement between the kết quả bóng đá trực tiếp authority and taxpayer through unilateral, bilateral, and multilateral agreements between kết quả bóng đá trực tiếp authority, taxpayer, and relevant foreign kết quả bóng đá trực tiếp authority, territory;
+ The application of advance pricing agreements on determining kết quả bóng đá trực tiếp calculation methods must be based on taxpayer information, verified commercial database ensuring legality;
+ The application of advance pricing agreements on determining kết quả bóng đá trực tiếp calculation methods must be approved by the Minister of Finance before implementation; for bilateral or multilateral agreements involving foreign kết quả bóng đá trực tiếp authorities, they are implemented according to legal provisions on international treaties and agreements.
