Law No. 31/2013/QH13 dated June 19, 2013 of the National Assembly on amending and supplementing a number of Articles of the Law on Value-Added Tax

THE PRESIDENT

Order No. 05/2013/L-CTN of June 28, 2013, on the promulgation of law

THE PRESIDENT OF THE SOCIALISTREPUBLIC OF VIETNAM

Pursuant to Articles 103 and 106 of the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 of December 25, 2001, of the Xth National Assembly, the 10th session;

Pursuant to Article 91 of the Law on Organization of the National Assembly;

Pursuant to Article 57 of the Law on Promulgation of Legal Documents,

PROMULGATES:

the Law Amending and Supplementing a Number of Articles of the Law on Value-Added Tax,

which was passed on June 19, 2013, by the XIIIth National Assembly of the Socialist Republic of Vietnam at its fifth session.

President of the SocialistRepublic of Vietnam
TRUONG TAN SANG

Law Amending and Supplementing a Number of Articles of the Law on Value-Added Tax

(No. 31/2013/QH13)

Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10;

The National Assembly promulgates the Law Amending and Supplementing a Number of Articles of Law No. 13/2008/QH12 on Value-Added Tax.

Article 1.

To amend and supplement a number of articles of the Law on Value-Added Tax

1. To amend and supplement Clauses 4, 7, 8, 11, 15, 17, 23 and 25, Article 5 as follows:

 “4. Salt products made of seawater, natural rock salt, refined salt and iodized salt in which sodium chloride (NaCl) is a major component.”

“7. Life insurance, health insurance, student insurance, other human-related insurance services; insurance for domestic animals, insurance for plants, other agricultural insurance services; insurance for ships, boats, equipment and other necessary equipment for fishing; and reinsurance.

8. The following financial, banking and securities trading services:

a/ Credit provision services, including lending; discount and rediscount of negotiable instruments and other valuable papers; guarantee; financial lease; credit card issuance; domestic factoring; international factoring; and other forms of credit provision as prescribed by law;

b/ Lending services of taxpayers that are not credit institutions;

c/ Securities trading, including securities brokerage; securities dealing; securities issuance guarantee; securities investment consultancy; securities depository; management of securities investment funds; management of securities investment portfolio; market organizing service of stock exchanges or securities trading centers; and other securities trading activities as prescribed by the law on securities;

d/ Capital transfer, including transfer of part or the whole of invested capital, including the case of selling enterprises to other enterprises for production, business or securities transfer; and other forms of capital transfer as prescribed by law;

dd/ Selling debts;

e/ Foreign currency trading;

g/ Derivative financial services, including interest rate swapping, forward contracts, futures contracts; foreign currency trading options; and other derivative financial services as prescribed by law;

h/ Selling security property of debts of government-established organizations of which 100 percent of chartered capital is held by the State to deal with bad debts of Vietnam’s credit institutions.”

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