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light-check New amendments to regulations on VAT refund with regard to investment projects

Circular No. 13/2023/TT-BTC dated February 28th, 2023 of the Ministry of Finance on guiding the implementation of the Government's Decree No. 49/2022/ND-CP dated July 29th, 2022 amending, supplementing to a number of articles of the Government's Decree No. 209/2013/ND-CPstatus2 dated December 18th, 2013 detailing and guiding the implementation of a number of articles of the Law on value added tax, of which some contents have been amended, supplemented under Decree No.12/2015/ND-CP, Decree No. 100/2016/ND-CPstatus2 and Decree No. 146/2017/ND-CP and amending, supplementing to a number of articles of Circular No. 80/2021/TT-BTCstatus2 dated September 29th, 2021 of the Ministry of Finance
Posted: 2/3/2023 7:16:34 AM | Latest updated: 2/3/2023 4:28:52 PM (GMT+7) | LuatVietnam: 5648 | Vietlaw: 601
VietlawOnline

This Circular amends clause 10, clause 13 Article 7 and clause 2, clause 3 Article 18 of Circular No. 219/2013/TT-BTCstatus2 pertaining to value added tax (VAT) in relation to real estate transfer, electricity generation and VAT refund for investment projects.

Accordingly, VATable price, deductible land value upon calculation of VAT on transferring real estate shall be carried out according to the new regulations at clause 1 Article 1 of Decree No. 49/2022/ND-CP.

Cases eligible for VAT refund with regard to investment projects of business establishments engaging in conditional business lines shall be carried out according to the new regulations at clause 3 Article 1 of Decree No. 49/2022/ND-CP and shall be retroactively applied from the date on which Decree No. 100/2016/ND-CPstatus2 takes effect (July 1st, 2016).

Regarding application for VAT refund with regard to investment projects of business establishments engaging in conditional business lines, according to the amendments at point a.4 clause 2 Article 28 of Circular No. 80/2021/TT-BTCstatus2 , enterprises shall submit the copy of any of these forms: license for conditional business, certificate of eligibility for conditional business or written certification, written approval of conditional business as the basis for tax refund consideration.

Clause 2 Article 3 of this Circular instructs in details clause 2 Article 2 of Decree No. 49/2022/ND-CP regarding adjustments to VAT, deferral amount, and fines for administrative violations of tax (if any) with regard to the case where VAT refund of an investment project is revoked according to clause 2 Article 1 of Decree No. 100/2016/ND-CPstatus2 .

This Circular takes effect from April 14th, 2023.

Ms Phuong Thao (VietlawOnline.com)
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Information
Effective date 14-Apr-2023
Expired date Unknown
Published Vietlaw's Newsletter No. 601

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Tax refund

light-check New amendments to regulations on VAT refund with regard to investment projects
blue-check Departments of Taxation will closely control applications for VAT refund to prevent fraud
blue-check Regarding VAT refund for imported goods to be re-exported
red-check Procedures for duty exemption, duty reduction for imports, exports
blue-check [Merged] - Guidelines on VAT declaration and refund
blue-check Warning of fraudulent signs in VAT refund (in relation to exports/imports)
blue-check Inspection of applications for VAT refund shall be strengthen
blue-check Regarding duty refund for re-exported goods
blue-check Import duty on raw materials shall not be refunded upon export on the spot
blue-check Data format in VAT-RS (VAT refund for persons on exit)
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blue-check Regarding refund of duty on re-exported imports
blue-check Regarding duty refund with regard to vehicles temporarily imported for re-export
blue-check [Merged] - Guidelines on refund of VAT for foreigners upon their exit from Vietnam
blue-check Regarding deduction of VAT paid on behalf of foreign contractors
blue-check Regarding VAT refund with regard to investment project
blue-check Regarding determination of remaining value upon re-exporting borrowed machinery
blue-check Amendments to regulaitons on selling selling VAT-refunded goods to foreigners
blue-check Regarding settlement of VAT on re-exported goods
blue-check Regarding VAT refund with regard to goods sold in Vietnam after July 1st, 2016