Vietnam: Which entities shall be eligible for excise tax deduction from January 01, 2016?

15:30, 30/10/2015

This is a notable content specified in Decree No. 108/2015/ND-CP of Vietnam’s Government providing guidelines for some articles of the Law on excise duty and the Law on amendments to the Law on excise duty.

khau tru thue tieu thu dac biet, Nghi dinh 108/2015/NĐ-CP

According to Decree No. 108/2015/ND-CP of Vietnam’s Government, taxpayers who manufacture goods subject to excise tax from materials subject to excise tax may deduct paid excise tax on imported materials from the excise tax payable if they are bought domestically. The amount of deductible excise tax depends on the amount of raw materials used for manufacturing goods that are sold.

Moreover, payers of excise tax on imported goods subject to excise tax (other than gasoline) may deduct excise tax upon importation from total excise tax on goods sold in Vietnam. The amount of deductible excise tax depends on the amount of imported goods subject to excise tax that are sold. The taxpayer may include the amount of non-deductible excise tax in expense when calculating corporate income tax.

Note: Excise tax shall be deducted when it is declared.

More details can be found in Decree No. 108/2015/ND-CP of Vietnam’s Government, which takes effect from January 01, 2016.

Thu Ba

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