What are Decrees and Circulars guiding the latest 2024 Law on Value-Added Tax of Vietnam?
What is the latest Law on Value-Added Tax of 2024 in Vietnam?
The latest Law on Value-Added Tax is the 2008 Law on Value-Added Tax, amended by the following documents:
- 2013 Amended Law on Value-Added Tax.
- 2016 Amended Law on Value-Added Tax, Special Consumption Tax Law, and Tax Administration Law.
What are Decrees and Circulars guiding the latest 2024 Law on Value-Added Tax of Vietnam? (Image from the Internet)
What are Decrees and Circulars guiding the latest 2024 Law on Value-Added Tax of Vietnam?
* Decrees guiding the latest 2024 Law on Value-Added Tax include:
- Decree 209/2013/ND-CP guiding the Law on Value-Added Tax.
- Decree 91/2014/ND-CP amending and supplementing a number of articles in the Decrees regulating taxes, effective from November 15, 2014, with specific provisions of Article 1 of this Decree applying to corporate income tax calculation periods from 2014;
- Decree 12/2015/ND-CP dated February 12, 2015, guiding the Law amending and supplementing certain provisions of the Laws on taxes and amending and supplementing certain provisions of the tax Decrees, effective from January 01, 2015.
- Decree 100/2016/ND-CP guiding the Law amending and supplementing certain provisions of the Law on Value-Added Tax, Special Consumption Tax Law, and Tax Administration Law, effective from July 01, 2016.
- Decree 10/2017/ND-CP issuing the financial management regulations for Vietnam Electricity Group and amending and supplementing Clause 4 Article 4 of Decree 209/2013/ND-CP, effective from April 01, 2017.
- Decree 146/2017/ND-CP amending and supplementing certain provisions of Decree 100/2016/ND-CP and Decree 12/2015/ND-CP, effective from February 01, 2018.
- Decree 49/2022/ND-CP amending Decree 209/2013/ND-CP guiding the Law on Value-Added Tax amended and supplemented according to Decree 12/2015/ND-CP, Decree 100/2016/ND-CP, and Decree 146/2017/ND-CP, effective from September 12, 2022.
* Circulars guiding the latest 2024 Law on Value-Added Tax include:
- Circular 219/2013/TT-BTC guiding the Law on Value-Added Tax and Decree 209/2013/ND-CP, effective from January 01, 2014.
- Circular 119/2014/TT-BTC amending and supplementing certain provisions of Circular 156/2013/TT-BTC, Circular 111/2013/TT-BTC, Circular 219/2013/TT-BTC, Circular 08/2013/TT-BTC, Circular 85/2011/TT-BTC, Circular 39/2014/TT-BTC, and Circular 78/2014/TT-BTC to reform and simplify administrative procedures regarding taxation, effective from September 01, 2014.
- Circular 151/2014/TT-BTC guiding Decree 91/2014/ND-CP dated October 01, 2014, effective from November 15, 2014.
- Circular 26/2015/TT-BTC guiding the Value Added Tax and tax administration at Decree 12/2015/ND-CP and amending and supplementing certain provisions of Circular 39/2014/TT-BTC, effective from January 01, 2015.
- Circular 193/2015/TT-BTC amending and supplementing Circular 219/2013/TT-BTC, effective from January 10, 2016.
- Circular 130/2016/TT-BTC guiding Decree 100/2016/ND-CP dated July 01, 2016, effective from July 01, 2016.
- Circular 173/2016/TT-BTC amending and supplementing the first paragraph of Clause 3, Article 15 of Circular 219/2013/TT-BTC (amended and supplemented according to Circular 119/2014/TT-BTC, Circular 151/2014/TT-BTC, Circular 26/2015/TT-BTC), effective from December 15, 2016.
- Circular 93/2017/TT-BTC amending and supplementing Clause 3, Clause 4, Article 12 of Circular 219/2013/TT-BTC (amended and supplemented at Circular 119/2014/TT-BTC) and repealing Clause 7, Article 11 of Circular 156/2013/TT-BTC, effective from November 05, 2017.
- Circular 25/2018/TT-BTC guiding Decree 146/2017/ND-CP and amending and supplementing certain provisions of Circular 78/2014/TT-BTC, Circular 111/2013/TT-BTC, effective from May 01, 2018.
- Circular 82/2018/TT-BTC repealing Example 37 specified at Point a.4, Clause 10, Article 7 of Circular 219/2013/TT-BTC, effective from October 15, 2018.
- Circular 43/2021/TT-BTC amending and supplementing Clause 11, Article 10 of Circular 219/2013/TT-BTC, effective from August 01, 2021.
What are some provisions of the latest Law on Value-Added Tax in Vietnam?
According to Articles 1, 2, 3, 4, 14 of the 2008 Law on Value-Added Tax the following issues are regulated:
- Scope of regulation:
The Law on Value-Added Tax prescribes the subjects of taxation, subjects not subject to tax, taxpayers, bases and methods of tax calculation, deduction, and refund of value-added tax.
- Subjects of value-added tax:
Value-added tax is tax levied on the added value of goods and services arising from production, circulation to consumption.
Goods and services used for production, business, and consumption in Vietnam are subjects to value-added tax, except for subjects stipulated in Article 5 of this Law.
- Value-added tax payers:
Value-added tax payers are organizations and individuals producing and trading taxable goods and services (hereinafter referred to as business establishments) and importing taxable goods (hereinafter referred to as importers).
- Invoices and vouchers:
The purchase and sale of goods and services must have invoices and vouchers in accordance with the law and the following regulations:
+ Business establishments paying tax by the deduction method use value-added invoices; invoices must be fully and correctly recorded, including surcharges and additional fees (if any). In cases where value-added tax is not stated on the value-added invoice for value-added taxable goods and services, the output value-added tax is determined by the payment recorded on the invoice multiplied by the value-added tax rate, except as stipulated in Clause 2 of this Article;
+ Business establishments paying tax by the direct method on added value use sales invoices.
For types of stamps and tickets that are pre-printed with the payment amount, the payment amount stated on the stamps and tickets includes value-added tax.
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