THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 24/2002/TT-BTC
Hanoi, March 20, 2002
 CIRCULAR
GUIDING THE IMPLEMENTATION OF TAX OBLIGATIONS FOR FINANCIAL LEASING ACTIVITIES
Pursuant to the Value Added Tax Law; the Enterprise Income Tax Law; the Import Tax and Export Tax Law; the Ordinance on Charges and Fees; as well as the guiding documents of the Government and the Ministry of Finance;
Pursuant to the Government’s Decree No. 16/2001/ND-CP of May 2, 2001 on the organization and operation of financial leasing companies;
In order to make it suit the business characteristics of financial leasing activities, the Ministry of Finance hereby guides the implementation of the provisions on taxes and fees for the operation of financial leasing companies, concretely as follows:
I. REGARDING VALUE ADDED TAX AND ENTERPRISE INCOME TAX
They shall comply with the Value Added Tax Law, the Enterprise Income Tax Law, as well as the Government’s and the Finance Ministry’s documents detailing and guiding the implementation thereof;
II. REGARDING IMPORT AND EXPORT TAXES
1. General principle: They shall comply with the Law on Import Tax and Export Tax as well as the Government’s and the Finance Ministry’s documents detailing and guiding the implementation thereof;
2. In order to make it suit the business characteristics of financial leasing activities, several points are specifically guided as follows:
a/ For machinery, equipment, transport means and other movables imported by financial leasing companies for lease, import taxes shall be the same as the cases where the lessees directly import these assets; concretely as follows:
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