Official Letter No. 08 dated 19 2712/TCT-CS 2013 of GDT about VAT guidance for construction in progress.
According to Official letter No. 2712/TCT-CS:
The company carries out construction contracts in the form of packages, but no construction permits, no design drawings, no cost estimate. The company and investors are agreed about construction execution, acceptance, handing over but the two sides do not set up acceptance minutes for each item work. Because there are no construction design drawings, no estimate, the company does not have evidences to make aacceptance, finalization minutes, issue VAT invoices to declare tax in accordance with regulations. The company’s revenue may be assessed to calculate VAT in accordance with the provisions of the Law on Tax Administration.
