Will xem bóng đá trực tiếp nhà cái exemption of import duty for low-value goods cease in 2025 in Vietnam? How to determine taxable prices for imported goods in Vietnam?

Will xem bóng đá trực tiếp nhà cái exemption of import duty for low-value goods cease in 2025 in Vietnam?

According to Section 8 ofNghị vtv2 trực tiếp bóng(effective from January 14, 2025), xem bóng đá trực tiếp nhà cái National Assembly mentioned xem bóng đá trực tiếp nhà cái immediate termination of xem bóng đá trực tiếp nhà cái value-added tax exemption regulation inlịch trực tiếp bóng đá hômby xem bóng đá trực tiếp nhà cái Prime Minister of xem bóng đá trực tiếp nhà cái Government of Vietnam. This serves as a legal basis for tax authorities to manage and collect taxes from foreign e-commerce platforms selling goods to Vietnam.

According to Article 1 ofDecision 78/2010/QD-TTg, xem bóng đá trực tiếp nhà cái provisions are as follows:

- Imported goods sent via express delivery services with a value of 1 million VND or less are exempt from import duty and value-added tax.

- Imported goods sent via express delivery services with a value exceeding 1 million VND must pay import duty and value-added tax according to xem bóng đá trực tiếp nhà cái law.

Therefore, based on xem bóng đá trực tiếp nhà cái above regulations, from xem bóng đá trực tiếp nhà cái effective date ofNghị vtv2 trực tiếp bóng(January 14, 2025), xem bóng đá trực tiếp nhà cái exemption of import duty for low-value goods (below 1 million VND) sent via express delivery will cease.

Will xem bóng đá trực tiếp nhà cái exemption of import duty for low-value goods cease in 2025 in Vietnam?(Image from Internet)

How to determinetaxable prices for imported goods in Vietnam?

According to Article 7 ofCircular 219/2013/TT-BTC, xem bóng đá trực tiếp nhà cái regulations are as follows:

Tax Value

1. For goods and services sold by manufacturing, business establishments, xem bóng đá trực tiếp nhà cái selling price without VAT is used. For goods and services subject to special consumption tax, xem bóng đá trực tiếp nhà cái selling price includes special consumption tax but excludes VAT.

For goods subject to environmental protection tax, xem bóng đá trực tiếp nhà cái selling price includes environmental protection tax but excludes value-added tax; goods subject to both special consumption tax and environmental protection tax use xem bóng đá trực tiếp nhà cái selling price including both special consumption tax and environmental protection tax but excluding VAT.

2. For imported goods, xem bóng đá trực tiếp nhà cái taxable prices includes xem bóng đá trực tiếp nhà cái customs value plus (+) import duty (if any), plus (+) special consumption tax (if any), plus (+) environmental protection tax (if any). xem bóng đá trực tiếp nhà cái customs value is determined according to regulations on import duty valuation.

In cases where imported goods are exempt or receive tax reductions, xem bóng đá trực tiếp nhà cái VAT valuation is xem bóng đá trực tiếp nhà cái customs value plus (+) xem bóng đá trực tiếp nhà cái import duties calculated according to xem bóng đá trực tiếp nhà cái payable rate after exemptions or reductions.

3. For products, goods, services (whether purchased or self-manufactured by xem bóng đá trực tiếp nhà cái business) used for exchange, gifting, donation, remuneration, xem bóng đá trực tiếp nhà cái taxable VAT value is xem bóng đá trực tiếp nhà cái value of similar or equivalent goods and services at xem bóng đá trực tiếp nhà cái time these activities occur.

Example 22: Company A produces electric fans, and uses 50 fans for exchange with Company B for steel, xem bóng đá trực tiếp nhà cái selling price (exclusive of tax) is 400,000 VND per unit. xem bóng đá trực tiếp nhà cái VAT taxable value is 50 x 400,000 VND = 20,000,000 VND.

Exclusively, gifts or invitations (stated on xem bóng đá trực tiếp nhà cái invitation as free of charge) to art performances, fashion shows, beauty pageants, and sports competitions permitted by competent state authorities are assigned a tax value of zero (0). xem bóng đá trực tiếp nhà cái performing arts organization is responsible for determining and accounting for xem bóng đá trực tiếp nhà cái number and list of organizations and individuals receiving invitations before xem bóng đá trực tiếp nhà cái event. If there is fraudulent conduct charging for invitations, legal action will be taken under tax management law.

Example 23: Joint Stock Company X is authorized to organize xem bóng đá trực tiếp nhà cái “Miss Vietnam 20xx” pageant, aside from printing tickets for sale to spectators, printed complimentary invitations were distributed to some invitees. When declaring VAT, xem bóng đá trực tiếp nhà cái taxable value for these invitations is set at zero (0). If tax authorities discover Company X charging for such invitations, it will be penalized under tax management law.

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Therefore, xem bóng đá trực tiếp nhà cái taxable prices for imported goods is xem bóng đá trực tiếp nhà cái customs value plus (+) import duties (if any), plus (+) special consumption tax (if any), plus (+) environmental protection tax (if any). xem bóng đá trực tiếp nhà cái customs value is determined according to rules on import duty valuation.

Are imported components for manufacturing export goods exempt from import duty in Vietnam?

According to Clause 10, Article 16 of xem bóng đá trực tiếp nhà cáiLaw on Export and import duties 2016, xem bóng đá trực tiếp nhà cái provisions are as follows:

Tax Exemption

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7. Raw materials, supplies, and components imported for manufacturing exported goods.

8. Goods manufactured, processed, recycled, or assembled in non-tariff zones not using imported materials or components when imported into xem bóng đá trực tiếp nhà cái domestic market.

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Thus, imported components used for manufacturing export goods are subject to import duty exemption.