Is there a Draft Resolution on VAT reduction in Vietnam for đá bóng trực tiếp first half of 2025?
Is there a Draft Resolution on VAT reduction in Vietnam for đá bóng trực tiếp first half of 2025?
Currently, đá bóng trực tiếp Ministry of Finance has completed đá bóng trực tiếp first Draft of đá bóng trực tiếp National Assembly’s Resolution on đá bóng trực tiếp continued reduction of VAT for đá bóng trực tiếp first half of 2025.
đá bóng trực tiếp Government of Vietnam has announced đá bóng trực tiếp National Assembly’s Resolution on reducing value-added tax as well as đá bóng trực tiếp proposal files for drafting đá bóng trực tiếp National Assembly’s Resolution on reducing value-added tax for đá bóng trực tiếp first half of 2025.
Draft Resolution on VAT Reduction for đá bóng trực tiếp First Half of 2025…Download
View đá bóng trực tiếp complete proposal files for drafting đá bóng trực tiếp National Assembly’s Resolution on reducing value-added tax…Download
đá bóng trực tiếp expected VAT reduction policy for 2025 will apply afterlịch trực tiếp bóng đáexpires.
Is there a Draft Resolution on VAT reduction in Vietnam for đá bóng trực tiếp first half of 2025?(Image from đá bóng trực tiếp internet)
What are regulations on thenew draft on VAT reduction in Vietnamfor đá bóng trực tiếp first half of 2025?
According to Article 1 of đá bóng trực tiếp Draft Resolution on VAT reduction from January 1, 2025, to June 30, 2025, as follows:
Scope of Application
- A 2% reduction in đá bóng trực tiếp VAT rate is applied to goods and services currently subject to a 10% tax rate (reduced to 8%), except for certain groups of goods and services: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metal production, and finished metal products, mining (excluding coal mining), coke production, refined petroleum, chemical production, and chemical products, excise-taxed goods, and services.
- đá bóng trực tiếp period of application of đá bóng trực tiếp 2% VAT reduction is stipulated in clause 1 of this Article from January 1, 2025, to June 30, 2025.
Accordingly, đá bóng trực tiếp Ministry of Finance proposes a 2% reduction in đá bóng trực tiếp VAT rate, applying to goods and services currently charged at a 10% rate (reduced to 8%), excluding certain goods and services such as telecommunications, information technology, finance, banking, securities, insurance, real estate, metals, finished metal products, mining (excluding coal mining), coke products, refined petroleum, chemical products, and excise-taxed goods and services.
đá bóng trực tiếp application period is from January 1, 2025, to June 30, 2025.
What are regulations underDecree 72 regarding VAT reduction in Vietnam?
Based on Article 1 ofDecree 72/2024/ND-CPprescribing VAT reduction until đá bóng trực tiếp end of 2024 as follows:
(1) Reduction of VAT for goods and services currently applying a 10% tax rate, except for đá bóng trực tiếp following goods and services:
- Telecommunications, financial activities, banking, securities, insurance, real estate business, metal production, finished metal products, mining (excluding coal mining), coke, refined petroleum, chemical products.
Details in Appendix 1 issued withDecree 72/2024/ND-CP…Download
- Excise-taxed goods and services.
Details in Appendix 2 issued withDecree 72/2024/ND-CP…Download
- Information technology as per đá bóng trực tiếp law on information technology.
Details in Appendix 3 issued withDecree 72/2024/ND-CP…Download
- Reduction of VAT for each type of goods and services specified in (1) is applied uniformly at import, production, processing, and commercial stages. Coal extraction items sold (including cases where coal is extracted and then screened, classified in a closed process) are subject to VAT reduction. Other stages besides đá bóng trực tiếp extraction and sale stages are not eligible for VAT reduction.
Corporations and economic groups implementing closed processes before selling are also subject to VAT reduction for coal extraction items sold.
Goods and services mentioned in Appendices 1, 2, and 3 issued withDecree 72/2024/ND-CPthat fall under đá bóng trực tiếp category of non-VAT or 5% VAT under đá bóng trực tiếp Law on VAT must follow đá bóng trực tiếp Law on VAT and are not eligible for VAT reduction.
(2) VAT Reduction Rate:
- Business establishments calculating VAT by credit method apply an 8% VAT rate for goods and services as defined in clause 1 of Article 1Decree 72/2024/ND-CP.
- Business establishments (including business households and individuals) calculating VAT by percentage method on revenue get a 20% reduction in đá bóng trực tiếp percentage used for VAT billing for goods and services reduced as per clause 1 Article 1Decree 72/2024/ND-CP.
(3) Procedures
- For business establishments outlined at point a clause 2 Article 1Decree 72/2024/ND-CP, when issuing VAT invoices for goods and services eligible for VAT reduction, indicate đá bóng trực tiếp line for VAT rate with “8%”; VAT; total amount payable by đá bóng trực tiếp buyer.
Based on đá bóng trực tiếp VAT invoice, businesses selling goods and services declare output VAT; businesses purchasing goods and services declare input VAT deduction on đá bóng trực tiếp reduced tax indicated on đá bóng trực tiếp VAT invoice.
- For business establishments outlined at point b clause 2 Article 1Decree 72/2024/ND-CP, when issuing sales invoices for goods and services eligible for VAT reduction, đá bóng trực tiếp “Total amount in words” column should reflect đá bóng trực tiếp total goods and services amount before đá bóng trực tiếp reduction, while đá bóng trực tiếp “Total goods and services value” should reflect a 20% reduced percentage on revenue; additionally, a note should indicate “reduced by... (amount) equivalent to a 20% rate to calculate VAT according toNghị trực tiếp bóng đá việt”.
(4) For business establishments as per point a clause 2 Article 1Decree 72/2024/ND-CPselling goods, providing services that apply different VAT rates, đá bóng trực tiếp VAT invoice must clearly state đá bóng trực tiếp tax rates per đá bóng trực tiếp guidance in (3).
For business establishments as per point b clause 2 Article 1Decree 72/2024/ND-CPselling goods, providing services, đá bóng trực tiếp sales invoice must clearly state đá bóng trực tiếp reduced amount as regulated in clause 3 Article 1Decree 72/2024/ND-CP.
(5) If a business establishment has issued invoices and declared according to unreduced VAT rates or percentages specified inDecree 72/2024/ND-CP, seller and buyer shall handle đá bóng trực tiếp issued invoice in accordance with legal regulations on invoices and documents.
Based on đá bóng trực tiếp post-handling invoice, đá bóng trực tiếp seller shall declare and adjust output VAT, and đá bóng trực tiếp buyer shall declare and adjust input VAT (if applicable).
(6) Business establishments specified in this Article shall declare goods and services eligible for VAT reduction according to Form No. 01 in Appendix 4 issued withDecree 72/2024/ND-CPalong with VAT returns.
