Instructions for creating invoices to reduce VAT to 8%

The General Department of Taxation's guidance on making invoices to reduce value-added tax (VAT) to 8% in 2022 is the content of Official Dispatch 2121/TCT-CS dated May 29, 2023 on making invoices to implement Decree 15/2022/ND-CP issued by the General Department of Taxation.

The General Department of Taxation guides the creation of invoices to reduce value-added tax (VAT) to 8% in 2022. (Source: thuvienphapluat)

General Department of Taxation guides on making invoices to reduce VAT to 8% in 2022

Accordingly, the General Department of Taxation guides the issuance of invoices to reduce VAT to 8% in 2022 in Decree 15/2022/ND-CP as follows:

(1) Regarding the time of specific invoice issuance:

On March 23, 2022, the Ministry of Finance issued Official Dispatch 2688/BTC-TCT dated March 23, 2023 guiding the Tax Departments of provinces and cities on VAT in Decree 15/2022/ND-CP, including instructions on the time of invoice issuance.

On September 22, 2022, the General Department of Taxation issued Official Dispatch 3522/TCT-CS dated September 22, 2022 in response to the Ho Chi Minh City Tax Department and sent it to the Tax Departments of provinces and cities, including instructions on VAT reduction for cases of special invoice issuance times.

Propose that the Tax Departments of provinces and centrally-run cities study the content and guide units to implement according to the above guidance documents of the Ministry of Finance and the General Department of Taxation.

(2) Regarding invoicing in some cases:

- In case goods and services are subject to VAT reduction according to Decree 15/2022/ND-CP, after December 31, 2022, if errors are discovered, an adjustment or replacement invoice must be issued without affecting the goods price and VAT payable or adjusting the taxable price, the adjusted or replacement invoice shall apply a VAT rate of 8%;

In case of errors in the quantity of goods leading to errors in the price of goods and VAT, the adjusted or replaced invoice shall apply the VAT rate prescribed at the time of making the adjusted or replaced invoice.

- In case of goods purchased before January 1, 2023 with a tax rate of 8%, after December 31, 2022 the buyer returns the goods due to incorrect specifications or quality, the seller shall issue a return invoice to adjust or replace the invoice issued with a VAT rate of 8%, the seller and the buyer shall have an agreement clearly stating the returned goods.

- In case a business establishment applies a trade discount to customers and for trade discounts on goods with a VAT reduction rate of 8% sold in 2022 but issues invoices showing the trade discount content from January 1, 2023:

+ In case the discount amount is established on the last purchase or the next period after December 31, 2022, the discount amount of the sold goods will be adjusted in the content of taxable price and tax rate according to current law at the time of invoice creation.

+ In case the discount amount is established when the discount program (period) ends after December 31, 2022, the seller shall issue an adjustment invoice and apply the VAT rate of 8% at the time of sale.

- In case a business establishment sells goods and provides services (subject to VAT reduction according to Decree 15/2022/ND-CP) but after December 31, 2022, the business establishment issues invoices for revenue from the sale of goods and services arising from February 1, 2022 to December 31, 2022 and construction and installation activities have a time for acceptance and handover of works, work items, completed construction and installation volume, regardless of whether the money has been collected or not, determined from February 1, 2022 to December 31, 2022 but after December 31, 2022:

New business establishments that issue invoices for construction and installation revenue that has been accepted and handed over are considered to be in the case of issuing invoices at the wrong time, are eligible for VAT reduction according to Decree 15/2022/ND-CP and will be subject to administrative sanctions for issuing invoices at the wrong time.

Source: https://baoquocte.vn/huong-dan-lap-hoa-don-giam-thue-gtgt-xuong-8-229396.html