THE MINISTRY OF FINANCE
Official Dispatch No. 8355/BTC-TCT dated June 28, 2013 of the Ministry of Finance on the implementation of some provisions take effect on July 01, 2013 at the Law on amending and supplementing some articles of the Law on Tax Administration
Respectfully to: Taxation Departments of central-affiliated cities and provinces
On 20/11/2012, the National Assembly passed Law on amending and supplementing a number of articles of the Law on tax administration, taking effect on 1/7/2013.
In the present time, the Ministry of Finance is urging in coordinating with concerned agencies to submit to the Government for promulgation of Decree detailing the implementation of Law on tax administration and Law amending and supplementing a number of articles of Law on tax administration and promulgation of Circular guiding implementation. Let provisions to take effect on 01/7/2013, pending competent state agencies promulgate legal documents guiding implementation of the Law, the Ministry of Finance guides implementation of some content applicable from 1/7/2013 as follows:
A. Quarterly VAT declaration
1. Subjects of quarterly VAT declaration:
- Quarterly VAT declaration applies to persons paying VAT with total turnover of goods sale and service provision of the adjacent previous year attaining from VND 20 billion or less than.
If taxpayers have just begun operation of production and business, they shall perform monthly VAT declaration. After having had production and business operation for full 12 months, from the next calendar year, based on the turnover level of goods sale and service provision of the adjacent previous year, they shall perform VAT declaration on a monthly basis or quarterly basis.
Taxpayers shall self-define that they are subject of monthly VAT declaration or quarterly VAT declaration to perform VAT declaration in accordance with regulation.
If a taxpayer eligible for quarterly VAT declaration, this taxpayer must not declare VAT of July, 2013 but must declare quarter III/2013 (VAT payable to budget of July, August and September, 2013) not later than 30/10/2013. If a taxpayer is not eligible for quarterly VAT declaration, this taxpayer must declare VAT of July, 2013 not later than 20/8/2013 in accordance with current regulation.
If a taxpayer who is eligible for and belongs to case of quarterly VAT declaration wish to transfer to monthly VAT declaration, this taxpayer must send a notification to directly-managing tax agency not later than time limit of submitting the VAT declaration of July, 2013.
