THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 13902/TC/TCT
On the vat rate of stainless steel water tanks
Hanoi, November 29, 2004
 
To: Provincial/municipal Departments of Taxation
The Finance Ministry has received official letter of some Taxation Departments and enterprises inquiring about the tax rate applicable to stainless steel water tanks. On this matter, the Finance Ministry gives the following opinion:
Pursuant to Point 3.4, Item II, Part B of the Finance Ministry’s Circular No. 120/2003/TT-BTC of December 12, 2003 guiding the VAT and Circular No. 62/2004/TT-BTC of June 24, 2004 guiding the implementation of VAT rate according to the Table of Preferential Import and Export Tariffs: the tax rate of 10% shall apply to stainless steel water tanks as from January 1, 2004. Before this official dispatch is issued, if establishments already declared and paid VAT at the rate of 5%, the additional VAT amounts shall not be collected.
The Ministry of Finance hereby notifies its opinion to provincial/municipal Tax Departments and guiding enterprises in implementation./.
 
FOR THE MINISTER OF FINANCE
VICE MINISTER




Truong Chi Trung