| THE MINISTRY OF FINANCE ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
| No. 84/2004/TT-BTC | Hanoi, August 18, 2004 |
CIRCULAR
AMENDING AND SUPPLEMENTING CIRCULAR NO. 120/2003/TT-BTC OF DECEMBER 12, 2003 WHICH GUIDES THE IMPLEMENTATION OF THE GOVERNMENT’S DECREE NO. 158/2003/ND-CP OF DECEMBER 10, 2003 DETAILING THE IMPLEMENTATION OF THE VALUE ADDED TAX (VAT) LAW AND THE LAW AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE VAT LAW
Pursuant to May 10, 1997 VAT Law No. 02/1997/QH9 and June 17, 2003 Law No. 07/2003/QH11 Amending and Supplementing a Number of Articles of the VAT Law;
Pursuant to the Government’s Decree No. 148/2004/ND-CP of July 23, 2004 amending and supplementing the Government’s Decree No. 158/2003/ND-CP of December 10, 2003 which details the implementation of the VAT Law and the Law Amending and Supplementing a Number of Articles of the VAT Law;
Pursuant to the Prime Minister’s Decision No. 205/1998/QD-TTg of October 19, 1998 promulgating the Regulation on Duty-Free Shops,
The Ministry of Finance hereby guides the amendments and supplements to a number of contents in the Finance Ministry’s Circular No. 120/2003/TT-BTC of December 12, 2003 as follows:
1. To add VAT-free objects prescribed at Point 23, Section II of Part A as follows:
International transport means registry services, insurance services provided to international transport means such as insurance for ship hulls or aircraft fuselages, insurance for civil liability of ship owners or common civil liability for aircraft.
International transport means are those with international transport turnover representing over 50% of the total transport turnover of such means in a year; for international transport means being aircraft, they must have the international flight hours attaining over 50% of the total flight hours of such aircraft in a year.
