Introduction of New Contents on VAT and SCT

15:08, 11/07/2024

On September 16, 2016, the General Department of Taxation issued Official Dispatch 4238/TCT-CS to introduce the new contents of Circular 130/2016/TT-BTC (effective from July 1, 2016) which provides guidelines for Decree 100/2016/ND-CP on the Law on Value Added Tax (VAT), Law on Special Consumption Tax (SCT), and Law on Tax Administration.

Amendments and supplements to regulations related to various taxes include:

- Adding 3 subjects not subject to VAT;- Regulations on tax deduction for business establishments (CSKD) with uncredited input VAT;- Detailed guidelines on VAT refund for investment projects and exported goods and services;- Calculation of the Special Consumption Tax (TTDB) for goods subject to TTDB sold to commercial business establishments and production/importing establishments;- Deduction of TTDB for taxpayers who have paid TTDB at the import stage when determining the TTDB payable for domestic sales;- Determination of late payment interest on tax arrears;- Adding cases exempted from non-agricultural land use tax;- Incentives for expanded investment.

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