When can enterprises make an invoice for VAT reduction of 8%
Source: Internet |
Accordingly, for cases in which business establishments sign a contract to provide services with collection, and issued an invoice at the time of collection before February 1, 2022 at the tax rate of 10%, the service is completed within a period from February 1, 2022 to the end of December 31, 2022, if the amount is invoiced before February 1, 2022, it would not be eligible for value-added tax (VAT) reduction.
For the remaining unpaid amount, if the invoice is made from February 1, 2022 to the end of December 31, 2022, the policy of reducing VAT from 10% to 8% will be applied.
Also according to this guidance, in case a business establishment is subject to a tax rate of 10% in January 2022 but has not issued an invoice until February 2022, it belongs to the case of making invoices at the wrong time and is not eligible for VAT reduction.
For invoices made before February 1, 2022 with the VAT rate of 10%, after February 1, 2022, it arises errors that need to be adjusted, the adjusted invoices and returned invoices will be made with the VAT rate of 10%.
For activities of providing specific goods and services such as electricity supply, business establishments are entitled to a reduction in VAT following the regulations for making invoices from February 1, 2022 to the end of December 31, 2022.
The General Department of Taxation also requested tax departments to guide taxpayers to compare goods and services that taxpayers produce and trade with groups of goods and services that are excluded from the tax reduction stipulated in Clause 1, Article 1 of Decree No. 15/2022/ND-CP and the List of goods and services not eligible for tax reduction in Appendix I, II, III issued together with Decree No. 15/2022/ND-CP to comply with regulations.
Related News
Looking forward clear instructions in tax finalization in 2023
15:40 | 24/03/2024 Finance
General Department of Taxation holds an online conference to support tax finalization in 2023
10:22 | 14/03/2024 Finance
Digital transformation in the tax sector
09:49 | 31/10/2023 Finance
Tax debt of VND 210 million - not resolved after 25 years due to lack of guidance
08:01 | 02/05/2023 Anti-Smuggling
Latest News
Reporting to the National Assembly for considering VAT reduction in the second half of 2024
17:09 | 14/04/2024 Regulations
The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials
10:33 | 13/04/2024 Regulations
No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff
09:09 | 11/04/2024 Regulations
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations
09:31 | 10/04/2024 Regulations
More News
Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th
20:09 | 07/04/2024 Regulations
Improving the customs legal system to be modern, synchronous, unified and transparent
10:33 | 07/04/2024 Regulations
New points about rules of origin in AKFTA
08:05 | 03/04/2024 Regulations
It is necessary to build a national database on cross-border trade and transport
15:23 | 29/03/2024 Regulations
Removing difficulties in tax exemption and refund policies for export processing enterprises
14:48 | 27/03/2024 Regulations
Reviewing the list of scrap that is temporarily suspended from temporary import and re-export business
15:41 | 24/03/2024 Regulations
New law expected to boost financial leasing
14:05 | 22/03/2024 Regulations
5% VAT on fertilisers to create fairer market: domestic producers
14:03 | 22/03/2024 Regulations
Why not reduce export tax on fertilizer products to 0%?
09:37 | 21/03/2024 Regulations
Your care
Reporting to the National Assembly for considering VAT reduction in the second half of 2024
17:09 | 14/04/2024 Regulations
The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials
10:33 | 13/04/2024 Regulations
No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff
09:09 | 11/04/2024 Regulations
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations
09:31 | 10/04/2024 Regulations
Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th
20:09 | 07/04/2024 Regulations