Imported goods are not allowed to reduce VAT to 8%

Imported goods are not allowed to reduce VAT to 8%
Bảo Ngọc

The General Department of Customs issued Official Letter 642/TCHQ-TXNK dated February 25, 2022 on declaring VAT rates, determining names and applying HS codes of imported goods not eligible for tax reduction according to Decree 15 2022/ND-CP .

Accordingly, imported goods that are not eligible for VAT reduction are:

- There is a product name mentioned in column 8 "product name" and a description of the product's content in column 9 "content" (in case there is no description of content in column 9, the product name mentioned in column 8) of Appendix I, part A of Appendix III; or

- In column 3 "goods" part B, Appendix III; or

- Imported goods subject to excise tax in Appendix II promulgated together with  Decree 15/2022/ND-CP .

For imported goods mentioned in Appendices I, II, III issued together with  Decree  15/2022/ND-CP  which are not subject to VAT or subject to 5% VAT according to the provisions of the Tax Law VAT shall comply with the provisions of the Law on VAT.

Imported goods not mentioned in Appendices I, II, III issued together with  Decree  15/2022/ND-CP  are subject to 10% VAT according to the provisions of the VAT Law, the tax rate will be applied. VAT is 8% according to  Resolution 43/2022/QH15 .

Official Letter 642/TCHQ-TXNK  was issued on February 25, 2022.

>> See also  Instructions for determining the HS code of imported goods that are not eligible for VAT reduction


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