Is gasoline subject xoilac tv trực tiếp bóng đá hôm nay VAT? What is the VAT rate applied xoilac tv trực tiếp bóng đá hôm nay gasoline in Vietnam?
Is gasoline subject xoilac tv trực tiếp bóng đá hôm nay VAT? What is the VAT rate applied xoilac tv trực tiếp bóng đá hôm nay gasoline in Vietnam?
Pursuant xoilac tv trực tiếp bóng đá hôm nay the provisions in Article 2 of theLaw on Value-Added Tax 2008, the concept of value-added tax is specified as follows:
Value-Added Tax
Value-added tax is a tax levied on the added value of goods and services arising from production, circulation xoilac tv trực tiếp bóng đá hôm nay consumption.
According xoilac tv trực tiếp bóng đá hôm nay Article 3 of theLaw on Value-Added Tax 2008, objects subject xoilac tv trực tiếp bóng đá hôm nay value-added tax include goods and services used for production, business, and consumption in Vietnam, except for goods and services stipulated in Article 5 of theLaw on Value-Added Tax 2008.
Simultaneously, gasoline do not fall under the regulations for a 0% tax rate applied xoilac tv trực tiếp bóng đá hôm nay exported goods and services; the 5% tax rate applies xoilac tv trực tiếp bóng đá hôm nay a number of essential goods and services such as clean water, agricultural products, and the 10% tax rate applies xoilac tv trực tiếp bóng đá hôm nay other taxable goods and services.
Article 11 of theLaw on Value-Added Tax 2008specifies that gasoline are subject xoilac tv trực tiếp bóng đá hôm nay a 10% VAT rate similar xoilac tv trực tiếp bóng đá hôm nay many other groups of goods and services.
Therefore, gasoline are subject xoilac tv trực tiếp bóng đá hôm nay a 10% value-added tax rate.
Is gasoline subject xoilac tv trực tiếp bóng đá hôm nay VAT? What is the VAT rate applied xoilac tv trực tiếp bóng đá hôm nay gasoline in Vietnam?(Image from the Internet)
Will there be a VAT reduction for gasoline in Vietnam in 2024?
Based on Article 1 ofDecree 72/2024/ND-CP, the regulation is as follows:
Reduction of Value-Added Tax
1. Reduce the value-added tax for groups of goods and services currently subject xoilac tv trực tiếp bóng đá hôm nay a 10% tax rate, except for the following groups of goods and services:
a) Telecommunications, financial activities, banking, securities, insurance, real estate business, metals and pre-fabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products. Details can be found in Annex I issued with this Decree.
b) Products and services subject xoilac tv trực tiếp bóng đá hôm nay special consumption tax. Details can be found in Annex II issued with this Decree.
c) Information technology according xoilac tv trực tiếp bóng đá hôm nay the law on information technology. Details can be found in Annex III issued with this Decree.
d) The reduction of value-added tax for each type of goods and services specified in Clause 1 of this Article shall be uniformly applied at importation, production, processing, and commercial business stages. For mined coal sold (including cases where coal is mined and then screened, classified in a closed-loop process before being sold), it is subject xoilac tv trực tiếp bóng đá hôm nay a reduction in value-added tax. Coal is included in Annex I issued with this Decree; other stages besides mining and sale do not receive value-added tax reduction.
State corporations, economic groups following a closed-loop process for selling mined coal are also subject xoilac tv trực tiếp bóng đá hôm nay a reduction in value-added tax on mined coal sold.
In cases where goods and services listed in Annex I, II, and III issued with this Decree are subject xoilac tv trực tiếp bóng đá hôm nay either non-VAT or a 5% VAT according xoilac tv trực tiếp bóng đá hôm nay the Law on Value-Added Tax, regulations of the Law on Value-Added Tax shall be applied, and they shall not receive a VAT reduction.
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Accordingly, gasoline listed as commodities subject xoilac tv trực tiếp bóng đá hôm nay special consumption tax will not see a VAT reduction in 2024.
This also means that the gasoline will still be subject xoilac tv trực tiếp bóng đá hôm nay a 10% VAT rate.
When is the VAT reduction xoilac tv trực tiếp bóng đá hôm nay 8% effective?
According xoilac tv trực tiếp bóng đá hôm nay the provisions in Clause 1, Article 2 ofDecree 72/2024/ND-CPas follows:
Effective date and implementation
1. This Decree shall take effect from July 1, 2024, until the end of December 31, 2024.
2. The ministries according xoilac tv trực tiếp bóng đá hôm nay their functions and duties and the People's Committees of centrally run provinces and cities direct relevant agencies xoilac tv trực tiếp bóng đá hôm nay deploy, propagate, guide, inspect, and supervise so that consumers understand and benefit from the VAT reduction specified in Article 1 of this Decree, focusing on solutions xoilac tv trực tiếp bóng đá hôm nay stabilize the supply and demand of goods and services subject xoilac tv trực tiếp bóng đá hôm nay VAT reduction xoilac tv trực tiếp bóng đá hôm nay keep market price levels stable (prices excluding value-added tax) from July 1, 2024, xoilac tv trực tiếp bóng đá hôm nay the end of December 31, 2024.
3. In case of issues arising during implementation, the Ministry of Finance is assigned xoilac tv trực tiếp bóng đá hôm nay guide and resolve them.
4. Ministers, heads of ministerial-level agencies, heads of agencies under the Government of Vietnam, chairpersons of People's Committees of centrally run provinces and cities, and businesses, organizations, and individuals concerned shall be responsible for the implementation of this Decree.
Thelịch trực tiếp bóng đáis effective from July 1, 2024, until the end of December 31, 2024.
This means the VAT reduction xoilac tv trực tiếp bóng đá hôm nay 8% will only apply until December 31, 2024.
From January 1, 2025, the VAT rate for goods and services eligible for a reduction will revert xoilac tv trực tiếp bóng đá hôm nay 10% (unless there is another governing document).
