HOT: The Ministry of Finance guides the time to issue invoices to reduce VAT

HOT: The Ministry of Finance guides the time to issue invoices to reduce VAT
Bảo Ngọc

On March 23, 2022, the Ministry of Finance issued Official Letter 2688/BTC-TCT on value-added tax (VAT) in Decree 15/2022/ND-CP .

Accordingly, guidance on the time to issue VAT reduction invoices is as follows:

- In case a business establishment signs a service provision contract with collection of money before or during service provision, an invoice has been issued at the time of collection before February 1, 2022 with the tax rate of 10%, but the service completed in the period from February 1, 2022 to the end of December 31, 2022, then:

+ For the amount invoiced before February 1, 2022, it is not eligible for VAT reduction policy.

+ For the remaining unpaid amount, invoiced from February 1, 2022 to the end of December 31, 2022 according to the provisions of law, the VAT reduction policy will be applied.

- In case the business establishment provides goods and services subject to the tax rate of 10% in January 2022, but it is not until February 2022 that the business establishment issues an invoice for the revenue from the sale of goods and services. born in January 2022, they are in the case of making invoices at the wrong time and are not eligible for VAT reduction.

SEE DETAILS AT : New guidance of the Ministry of Finance on reducing VAT to 8%

Official Dispatch 2688/BTC-TCT was issued on 23/3/2022.

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