Calculation of SET for trading electronic games with prizes

07:24 | 30/01/2017 Regulations Follow english.haiquanonline.com.vn on

VCN – The General Department of Taxation has issued an Official Dispatch guiding the calculation of Value Added Tax and Special Excise Tax (SET) for trading electronic games with prizes.

	In 2017, minimum 18% of enterprises subject to tax management inspected and audited
	Guidance for declaring temporary import and re-export goods business
	Urgently review and handle errors on the tax administration application

calculation of set for trading electronic games with prizes

Photo: Internet.

According to provisions at the Circulars: Circular No. 219/2013/TT-BTC dated 31 December 2013 of the Ministry of Finance providing the taxable price for calculating SET; Circular No. 195/2015/TT-BTC of the Ministry of Finance providing the taxable price for casino service andtrading electronic games with prizes. The price as the basis for calculating SET is revenue from casino service and trading electronic games with prizes after deducting theprize moneygiven to players, which equals (=)the collected amount (excluding VAT) from players at the exchange counters or gaming tables or gaming machines before playing minus (-) the prize money amountgivento players.

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At the same time, according to Circular No. 39/2014/TT-BTC dated 31 March 2014 of the Ministry of Finance providing the principles of creating invoices, the General Department of Taxation guided that creating invoices for prize games is done in the day for the case where the payable prize amount which is higher than the collected amount from players is compensated to the taxable revenues of VAT of the following day in the same tax declaration period but not compensated to the following tax declaration periods.

By Thuy Linh/ Huyen Trang

Tags:

SET calculation Official Dispatch VAT electronic games with prizes Revenues players invoices

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