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Last updated: Wednesday, November 22, 2017

 

Please let us about returning value added tax (VAT)

Posted: Monday, August 11, 2008

On 21st May, 2008, the General Department of Taxation issued official letter No. 1953/TCT-CS with main contents as follows:
 
(i)      In the event that the invoice is not inserted the right date and month when it is made, the invoice shall not be considered as the legal invoice. Selling party and buying party shall not be entitled to use that invoice, then have to use the real output invoice for tax enumeration. If the selling party has taken back the output invoice really made for the buying party, then the selling party shall have to re-issue the real invoice inserted the right date and month of making the invoice and related contents in accordance with regulations of Accounting Law; and
 
(ii) Applying the 0 per cent VAT rate to exported goods:
 
      The exported goods shall be entitled to input VAT credit if meeting in full the following conditions:
 
-         Contract on sale of good for foreign organizations or individuals;
 
-         Customs declarations of exported goods;
 
-         Payment voucher.
     
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