There are 02 Value-added Tax (VAT) calculations: credit-invoice method and direct method. Regarding credit-invoice method, it should be noted that the following cases will not be deducted.
According to Vietnam’s current regulations, there are 02 Value-added Tax (VAT) calculations, including credit-invoice method and direct method. How are regulations on VAT calculations?
Value-added tax (VAT) is a tax imposed on the added value of goods or services arising in the process from production, circulation to consumption. So, according to Vietnam’s regulations, in which case are taxpayers eligible for tax refund?
The Law on value-added tax (VAT) 2008 of Vietnam was issued on June 03, 2008. This Law provides for objects subject and not subject to value-added tax, taxpayers, tax bases, tax calculation methods, and tax credit and refund.
On June 03, 2008, the National Assembly of Vietnam issued the Law on value-added tax (VAT) 2008. This Law consists of 5 Chapters and 16 Articles. Notably, this Law has specified VAT rate.
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