This Decree provides for the policy on 2% reduction in value-added tax (VAT) on goods and services that are currently subject to 10% VAT in the last 6 months of 2023 (from July 1st, 2023 to December 31st, 2023)
Accordingly, if goods and services that are currently subject to 10% VAT are not included in the Lists of goods and services that are not eligible for VAT reduction promulgated at Appendixes I, II and III of this Decree, they shall be entitled to the 2% reduction in VAT (it is allowable to issue invoices with 8% VAT)
Especially, business establishments that pay VAT using the direct method (as a percentage (%) on revenue) shall be eligible for 20% reduction in the rate (%) used as the basis for calculating VAT.
With regard to goods, services eligible for VAT reduction from July 1st, 2023, if an invoice indicating the VAT rate or the rate (%) used as the basis for calculating VAT which is not yet reduced according to this Decree has been issued, this invoice shall be corrected by the seller and the buyer in accordance with regulations of law on invoices and records. The seller shall adjust output VAT and the buyer shall adjust input VAT (if any) according to the invoice which has been corrected.
In addition, enterprises have to make and submit the declaration of their goods and services that are eligible for VAT reduction using Form No. 01 in Appendix IV enclosed herewith together with the VAT return form.
This Decree takes effect from July 01, 2023 to December 31, 2023 inclusively.
|Published||Vietlaw's Newsletter No. 619|
|GIảm 2% thuế GTGT 2023Cập nhật đến: 27-Sep-2023|