(HG) - According to Hau Giang Tax Department, implementing Official Dispatch No. 12/CD-TCT dated December 28, 2023 of the General Department of Taxation on the implementation of Decree No. 94/2023/ND-CP stipulating the policy of reducing value added tax according to Resolution No. 110/2023/QH15 of the National Assembly, the Provincial Tax Department informs taxpayers in Hau Giang province of some contents of Decree No. 94/2023/ND-CP as follows.
Accordingly, value added tax will be reduced for groups of goods and services currently subject to a tax rate of 10%, except for groups of goods and services such as telecommunications, financial activities, banking, securities, insurance, real estate business, metals and prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products (Details in Appendix I issued with the Decree). Goods and services subject to special consumption tax (Details in Appendix II issued with the Decree). Information technology according to the law on information technology (Details in Appendix III issued with the Decree). The reduction of value added tax for each type of goods and services specified in Clause 1, Article 1 of this Decree is applied uniformly at the stages of import, production, processing, and commercial business. For coal products that are mined and sold (including coal mined and then screened and classified according to a closed process before being sold), they are subject to value added tax reduction. Coal products in Appendix I issued with the Decree, at stages other than mining and selling, are not subject to value added tax reduction.
Corporations and economic groups that implement closed processes for new sales are also subject to VAT reduction for coal products sold. In case the goods and services listed in Appendices I, II and III issued with the Decree are not subject to VAT or are subject to 5% VAT according to the provisions of the Law on Value Added Tax, the provisions of the Law on Value Added Tax shall apply and VAT reduction shall not be granted.
Business establishments calculating value added tax according to the deduction method shall apply a value added tax rate of 8% to goods and services specified in Clause 1, Article 1 of this Decree. Business establishments (including business households and business individuals) calculating value added tax according to the percentage method on revenue shall have the percentage rate reduced by 20% for calculating value added tax when issuing invoices for goods and services eligible for reduced value added tax specified in Clause 1, Article 1 of this Decree...
T. XOAN
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