THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 03/2002/TT-BTC
Hanoi, January 14, 2002
 CIRCULAR
GUIDING THE TAX COLLECTION MANAGEMENT REGIME APPLICABLE TO AQUATIC RESOURCE-EXPLOITING ESTABLISHMENTS
Pursuant to May 10, 1997 Law No. 02/1997/QH9 on Value -Added Tax and documents guiding the implementation thereof;
Pursuant to May 10, 1997 Law No. 03/1997/QH9 on Enterprise Income Tax and documents guiding the implementation thereof;
Pursuant to the Ordinance on Natural Resource Tax promulgated on April 16, 1998 and documents guiding the implementation thereof;
In order to suit the characteristics of the aquatic and marine resource exploiting activities, after obtaining the opinion of the Ministry of Aquatic Resources, the Ministry of Finance hereby guides the tax collection management regime applicable to natural aquatic and marine resource-exploiting establishments as follows:
I. SCOPE OF APPLICATION
1. Domestic and foreign organizations and individuals (hereinafter called collectively as establishments) engaged in catching natural aquatic and marine resources (hereinafter called collectively as aquatic resources), that are liable to pay VAT, enterprise income tax, natural resource tax and other amounts (if any) under the provisions of the current tax laws and ordinances, are subjects of application of the tax collection management regime guided in this Circular.
2. This Circular shall not cover the following cases:
a/ Exploiting cultured aquatic resources.
b/ Producing, processing, dealing in, exporting and importing aquatic resources.
c/ Other production and business activities and services, including services directly catering for activities of exploiting natural aquatic resources.
II. METHODS OF DETERMINING THE TAX AMOUNTS PAYABLE BY EACH AQUATIC RESOURCE-EXPLOITING ESTABLISHMENT
1. According to the provisions of the current tax laws and ordinances, the aquatic resource exploitation is subject to the policies on license tax, natural resource tax, VAT and enterprise income tax and other payable amounts (if any) as prescribed below:
a/ License tax shall be paid in a lump sum right at the beginning of the year at the rate prescribed on the basis of the operation scope of each exploiting establishment;
b/ Natural resource tax, VAT, enterprise income tax and other payable amounts (if any) shall be paid on the basis of the amounts actually arising in each prescribed period, concretely:
- For aquatic resource-exploiting establishments which have fully and strictly complied with the regimes of accounting, invoices and vouchers, and managed to determine the accurate output, turnover from and expenses for exploiting activities, they shall calculate and pay natural resource tax, VAT, enterprise income tax and other amounts (if any) on the basis of the actually-arising amounts reflected on the accounting books and documents in accordance with the provisions of the current tax laws and ordinances as well as guiding documents.
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