Circular no. 65/2013/TT-BTC dated 17 may 2013 of MOF in guidance of amending, adding circular no. 06/2012/TT-BTC
MOF has just issued Circular No. 65/2013/TT-BTC amending, adding to Circular No. 06/2012/TT-BTC in guidance of invoices of sale. Some spotlights should be noted:
• Credit services being financial activities are not subjected to VAT. Accordingly, the receivable interests of a loan from non-credit institutions are not subject to VAT. In case, from 01 March 2012, Business establishments being non-credit institutions have prepared invoices, calculated VAT for the interests of a lending to other individuals, organizations, both sides will prepare the adjusted invoices and revise the interests of the lending as VAT non-liable entities. If both sides do not perform adjustment of the prepared invoices, if borrowers use the loan capitals for VAT liable business activities, they will deduct input VAT under regulations on basis of VAT invoices of lenders.
Instruction to VAT calculation amount for land rent to build infrastructure, house for sale, hire.
• Factory leasing service is provided for organizations, individuals in non-tariff zones; digitizing service is provided in Vietnam for oversea individuals, organizations applied to 0% tax rate. In case, 01 March 2012, if lessors have prepared invoices, calculated VAT for export processing enterprises, both sides will prepare new VAT invoices to correct the old invoices with 0% VAT tax rate.
• Guidance of determination of land rent to calculate VAT for some cases: leasing land to build infrastructure, build houses for sale, hire; receive land use right transfer of farmers and then change usage purpose into residential land to build apartment, housing; transfer with money collection with specific schedule
• Guidance of VAT refund for business establishments in a month having goods, services for export.
This Circular takes effects from 01 Jul 2013
