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IMPORTED GOODS TO CONTRIBUTE CAPITAL ARE NOT REQUIRED TO PAY VAT

VCN- Enterprises which contribute capital to establish are not required to declare and pay VAT in accordance with Point a, Clause 7 of Circular 219/2013 / TT-BTC.

imported goods to contribute capital are not required to pay vat
Customs operations at Cai Lan port, Quang Ninh province. Photo: Thu Trang.

That is a response of the General Department of Vietnam Customs for the proposal of Nghi Phong Joint-Venture Company Limited to import machinery and equipment to Vietnam to contribute capital without paying VAT on import.

According to analysis of the General Department of Vietnam Customs, Article 2 of Circular 219/2013 / TT-BTC guides the implementation of the Law on Value Added Tax as follows: The taxable objects are goods and services used for production, business and consumption in Vietnam (including goods and services purchased from organizations and individuals overseas), excluding those not subject to VAT as provided in Article 4 of this Circular.

In addition, Article 3 of Circular 219/2013 / TT-BTC also stipulates: “VAT payers are organizations and individuals producing and trading goods and services subject to VAT in Vietnam, without discriminating types of business, form, and organization of business (hereinafter referred to as business establishments) and organizations and individuals importing goods or purchasing services from abroad which are subject to VAT (hereinafter referred to as importers), including … “.

Accordingly, under Article 2 and Article 3 of Circular No. 219/2013 / TT-BTC, when importing goods into Vietnam, enterprises must pay VAT on import, excluding those not subject to VAT guided in Article 4 of this Circular. Then, enterprises which contribute capital such as fixed assets to establish are not required to declare and pay VAT under Point a, Clause 7, Article 5 of Circular No. 219/2013 / TT-BTC.

By Thu Trang/ Hoang Anh

Source: http://customsnews.vn/

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NO NEW CIRCULAR GUIDES THE LAW ON IMPORT AND EXPORT DUTY

VCN- Instead of drafting the Circular guiding some provisions of the Law on Import and Export Duty and Decree 134/2016 / ND-CP, these guidelines will now be provided in the draft Circular supplementing and amending Circular 38/2015 / TT-BTC which the General Department of Vietnam Customs is developing.

no new circular guides the law on import and export duty
Customs operations at the Thanh Thuy Customs Branch under the Ha Giang Customs Department. Photo: T. Trang.

That is the content which Mrs. Nguyen Kim Thoa – the Head of Tax Policy Division (the Import and Export Duty Department under the General Department of Vietnam Customs) exchanged with a reporter of the Customs Newspaper.

Reportedly, the contents related to import-export duty and tax administration will abolish Articles 40, 42, 46, 105, 108, 109, 110, 112 and 113 in Circular 38/2015 / TT-BTC.

Accordingly, in the draft Circular amending and supplementing Circular 38/2015 / TT-BTC will guide some regulations on import and export duty such as: payment of additional tax declaration; tax bases; the examination and processing of Customs valuation results; processing of Customs valuation results; guarantee and deposit tax money; location and form of tax payment; payment of Customs fees; taxes imposing on imported and exported goods; tax exemption for imported goods for processing, notification of the list of duty-free goods and tax refund cases.

By Thu Trang/ Hoang Anh

Source: http://customsnews.vn/