Will vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024 supplement conditions for input VAT credit documents in Vietnam?

Will vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024supplement conditions for input VAT creditdocuments in Vietnam?

According to vtv2 trực tiếp bóng đá hôm nayLuật Thuế giá trị đá bóng(current), Article 12 of vtv2 trực tiếp bóng đá hôm nayValue Added Tax Law 2008, as amended by Clause 6, Article 1 of vtv2 trực tiếp bóng đá hôm nay2013 Amended Value Added Tax Lawis as follows:

Input VAT credit

1. Business establishments that pay value added tax by vtv2 trực tiếp bóng đá hôm nay deduction method are entitled to deduct input VAT as follows:

a) Input VAT on goods and services used for vtv2 trực tiếp bóng đá hôm nay production and business of goods and services subject to VAT is fully deductible, including input VAT that is not compensated on goods and services subject to VAT that suffered damage;

b) Input VAT on goods and services used concurrently for vtv2 trực tiếp bóng đá hôm nay production and business of goods and services both taxable and non-taxable only allows deduction of input VAT on goods and services used for vtv2 trực tiếp bóng đá hôm nay taxable ones. vtv2 trực tiếp bóng đá hôm nay business must separately account for vtv2 trực tiếp bóng đá hôm nay deductible and non-deductible input VAT; if it fails to do so, vtv2 trực tiếp bóng đá hôm nay deductible input VAT is calculated according to vtv2 trực tiếp bóng đá hôm nay percentage of turnover of VAT-taxed goods and services against vtv2 trực tiếp bóng đá hôm nay total turnover of goods and services sold;

c) Input VAT on goods and services sold to organizations and individuals using humanitarian aid or non-refundable aid funds is fully deductible;

d) Input VAT on goods and services used for oil and gas exploration, development activities is fully deductible;

đ) Input VAT arising in any month is declared and deductible when determining vtv2 trực tiếp bóng đá hôm nay tax payable for that month. If vtv2 trực tiếp bóng đá hôm nay business discovers errors in input VAT during declaration or deduction, they can adjust it before vtv2 trực tiếp bóng đá hôm nay tax authority announces a tax audit or inspection decision at vtv2 trực tiếp bóng đá hôm nay taxpayer's headquarters.

2. Conditions for input VAT credit are as follows:

a) Having a VAT invoice for vtv2 trực tiếp bóng đá hôm nay purchase of goods and services or a document on VAT payment at vtv2 trực tiếp bóng đá hôm nay import stage;

b) Having non-cash payment documents for purchased goods and services, except for goods and services procured occasionally valued under twenty million dong;

c) For exported goods and services, in addition to vtv2 trực tiếp bóng đá hôm nay conditions stipulated in points a and b of this clause, there must be: a contract signed with vtv2 trực tiếp bóng đá hôm nay foreign party on vtv2 trực tiếp bóng đá hôm nay sale, processing of goods, provision of services; sales invoice; non-cash payment documents; customs declaration for exported goods.

Payment for exported goods and services through offsetting between exported and imported goods, debt settlement on behalf of vtv2 trực tiếp bóng đá hôm nay government, is considered non-cash payment.

Furthermore, according to point c, clause 2, Article 14 of vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024Downloadas follows:

Input VAT credit

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2. Conditions for input VAT credit are regulated as follows:

a) Having a VAT invoice for vtv2 trực tiếp bóng đá hôm nay purchase of goods and services or documents on VAT payment at vtv2 trực tiếp bóng đá hôm nay import stage or documents on VAT payment on behalf of vtv2 trực tiếp bóng đá hôm nay foreign party stipulated in clauses 3 and 4, Article 4 of this Law. vtv2 trực tiếp bóng đá hôm nay Minister of Finance regulates documents on VAT payment on behalf of vtv2 trực tiếp bóng đá hôm nay foreign party;

b) Having non-cash payment documents for purchased goods and services, except for certain special cases as prescribed by vtv2 trực tiếp bóng đá hôm nay Government of Vietnam;

c) For exported goods and services, in addition to vtv2 trực tiếp bóng đá hôm nay conditions stipulated in points a and b of this clause, there must be: a contract signed with vtv2 trực tiếp bóng đá hôm nay foreign party on vtv2 trực tiếp bóng đá hôm nay sale, processing of goods, provision of services; sales invoice; non-cash payment documents; customs declaration for exported goods; packing list, bill of lading, goods insurance documents (if any). vtv2 trực tiếp bóng đá hôm nay Government of Vietnam regulates vtv2 trực tiếp bóng đá hôm nay conditions for deduction in cases of exporting goods through foreign e-commerce platforms and other special cases.

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Thus,comparing current regulations and vtv2 trực tiếp bóng đá hôm nay upcoming new regulations, vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024 will supplement conditions for input VAT credit documents regarding exported goods and services, including packing lists, bills of lading, and goods insurance documents (if any); except for certain special cases as prescribed by vtv2 trực tiếp bóng đá hôm nay Government of Vietnam, input VAT can be deducted.

Note:vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024takes effect from July 1, 2025; however, except for vtv2 trực tiếp bóng đá hôm nay regulations in clause 2, Article 18 of vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024Download.

- Regulations on vtv2 trực tiếp bóng đá hôm nay revenue level of households and individuals engaged in production and business activities not subject to tax in clause 25, Article 5 of this Law and Article 17 of this Law come into force from January 1, 2026.

- vtv2 trực tiếp bóng đá hôm nay Value Added Tax Law No. 13/2008/QH12 as amended and supplemented by Laws No. 31/2013/QH13, No. 71/2014/QH13, and No. 106/2016/QH13 will be nullified from vtv2 trực tiếp bóng đá hôm nay date vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024 takes effect.

Will vtv2 trực tiếp bóng đá hôm nay Law on Value-Added Tax 2024 supplement conditions for input VAT credit documents in Vietnam?(Image from Internet)

Is uncompensated input VAT eligible for input VAT credit in Vietnam?

Based on Article 14 ofCircular 219/2013/TT-BTC, supplemented by point b, clause 9, Article 1 ofCircular 26/2015/TT-BTC, vtv2 trực tiếp bóng đá hôm nay principles of input VAT credit are as follows:

Principles of Input VAT credit

1. Input VAT on goods and services used for vtv2 trực tiếp bóng đá hôm nay production and business of goods and services subject to VAT is fully deductible, including input VAT that is not compensated on VAT-subject goods that suffered damage.

...

8. Input VAT arising in any period is declared, deducted when determining vtv2 trực tiếp bóng đá hôm nay tax payable for that period, regardless of whether it has been used or is still in storage.

In cases where a business discovers errors in input VAT during declaration or deduction, they can adjust it before vtv2 trực tiếp bóng đá hôm nay tax authority or competent authority announces a decision on tax audit or inspection at vtv2 trực tiếp bóng đá hôm nay taxpayer's headquarters.

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Thus,according to vtv2 trực tiếp bóng đá hôm nay above regulations, uncompensated input VAT is still eligible for input VAT credit.

Is vtv2 trực tiếp bóng đá hôm nay VAT creditmethod applicable to individual businesses in Vietnam?

Based on clause 2, Article 10 of vtv2 trực tiếp bóng đá hôm nayValue Added Tax Law 2008, as amended by clause 4, Article 1 of vtv2 trực tiếp bóng đá hôm nay2013 Amended Value Added Tax Law, vtv2 trực tiếp bóng đá hôm nay deduction method applies to business establishments that fully comply with accounting policies, invoices, and documents according to laws on accounting, invoices, and documents including:

- Business establishments with annual revenue from goods sales and service provision of one billion dong or more, excluding households and individual businesses;

- Business establishments voluntarily registering to apply vtv2 trực tiếp bóng đá hôm nay deduction method, excluding households and individual businesses.

Thus,vtv2 trực tiếp bóng đá hôm nay VAT credit method is not applicable to individual businesses.