This Decree clearly states the conditions for input VAT deduction that business establishments must have non-cash payment documents for purchased goods and services (including imported goods) of VND 5 million or more, including VAT.
In which, non-cash payment documents are documents proving non-cash payment according to the provisions of Decree 52/2024/ND-CP, except for documents in which the buyer deposits cash into the seller's account.
Specifically, including transfers via bank accounts; through intermediary payment service providers including checks, payment orders, payment authorizations, collections, collection authorizations, bank cards, e-wallets and other means of payment as prescribed by the State Bank.
Regarding conditions for input VAT deduction, some special cases as prescribed in the Law on Value Added Tax 2024 are as follows:
In case of goods and services purchased by the method of payment of offset between the value of purchased goods and services and the value of sold goods and services, or borrowing goods, and this payment method is specifically stipulated in the contract, there must be a record of data comparison and confirmation between the two parties on the offset between purchased goods and services and sold goods and services, or borrowing goods.
In case of debt offset through a third party, there must be a debt offset record of the three parties as the basis for tax deduction.
In case the purchased goods and services are paid for by authorization through a third party that makes non-cash payments (including cases where the seller requires the buyer to make non-cash payments to a third party designated by the seller), the payment by authorization or payment to a third party designated by the seller must be specifically stipulated in the contract in written form and the third party must be an organization or individual operating in accordance with the provisions of law.
In case goods and services are purchased by paying for them with stocks or bonds, and this payment method is specifically stipulated in the contract, there must be a sales contract in the form of a written document made beforehand.
In case purchased goods and services are paid for non-cash into a third party's account opened at the State Treasury to enforce the collection of money and assets held by other organizations and individuals (according to the decision of a competent state agency), the input value-added tax shall be deducted corresponding to the amount transferred into the third party's account opened at the State Treasury...
For goods and services purchased on deferred or installment payment with a value of VND 5 million or more, business establishments shall base on written contracts for purchasing goods and services, value-added invoices and non-cash payment documents for goods and services purchased on deferred or installment payment to deduct input value-added tax.
In case there is no non-cash payment document because the payment time according to the contract or contract appendix has not yet arrived, the business establishment is still allowed to deduct input value added tax.
In case at the time of payment according to the contract or contract appendix, the business establishment does not have non-cash payment documents, the business establishment must declare and adjust the deductible input value-added tax amount for the value of goods and services without non-cash payment documents in the tax period in which the payment obligation arises according to the contract or contract appendix.
"In case a taxpayer purchases goods and services with a value of less than VND 5 million but purchases multiple times on the same day with a total value of VND 5 million or more, tax deduction is only allowed in cases where there is a non-cash payment document," the Decree states.
HA (according to VTC News)Source: https://baohaiphongplus.vn/mua-hang-tu-5-trieu-dong-tro-len-phai-chuyen-khoan-moi-duoc-khau-tru-thue-vat-415461.html
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