| THE MINISTRY OF FINANCE ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
| No. 127/2003/TT-BTC | Hanoi, December 22, 2003 |
CIRCULAR
GUIDING THE IMPLEMENTATION OF THE PRIME MINISTER’S DECISION NO. 197/2003/QD-TTG OF SEPTEMBER 23, 2003 ON EXPERIMENTAL APPLICATION OF MECHANISM OF SELF-ASSESSMENT OF TAX BY PRODUCTION AND/OR BUSINESS ESTABLISHMENTS
Pursuant to May 10, 1997 Value Added Tax (VAT) Law No. 02/1997/QH9 and June 17, 2003 Law No. 07/2003/QH11 amending and supplementing a number of articles of the Value Added Tax Law;
Pursuant to June 17, 2003 Law No. 09/2003/QH11 on Enterprise Income Tax (EIT);
Pursuant to the Prime Minister’s Decision No. 197/2003/QD-TTg of September 23, 2003 on experimental application of the mechanism self-declaration of tax and self-payment of tax by production and/or business establishments,
The Finance Ministry hereby guides the experimental application of the mechanism of self-assessment of tax by production and/or business establishments as follows:
I. SCOPE OF APPLICATION
1. Subjects of experimental application of the tax self-assessment mechanism prescribed in Clause 2, Article 1 of the Prime Minister’s Decision No. 197/2003/QD-TTg of September 23, 2003 shall be production and/or business establishments (called collectively business establishments) which declare and pay VAT by deduction method and follow the prescribed regimes of accounting, invoices and vouchers.
2. Taxes covered by the experimental application of tax self-assessment as provided for in Clause 3, Article 1 of the Prime Minister’s Decision No. 197/2003/QD-TTg of September 23, 2003 shall be VAT (excluding VAT declared and paid at the importation stage) and EIT.
