OFFICIAL LETTER 5465/TCT-KK DATED 25 NOVEMBER 2016 OF VAT FOR PAYMENTS BY PERSONAL CREDIT CARDS
According to official letter 5465/TCT-KK, agreed with MOF, to create favorable conditions for business activities, GDT guides as follows:
In case, Samsung Electrics Viet Nam and Samsung Electrics Viet Nam Thai Nguyen (“Company”) authorize employees of the company to use personal credit card to pay goods, services for sellers after that the company shall pay to them through bank transfer from the company’s accounts registered with tax authority. If the payments are regulated in the financial statute or authorization decision to them; and the payments have full invoices, vouchers proving that goods, services used for business, including:
- Invoices of goods, services with the company’s tax codes, names
- Files relating to authorization of enterprise to person who pay to sellers and repayment to enterprise
- Bank transfer note from personal credit cards to sellers
- Bank transfer note from bank accounts of the company to employees
The payments above are considered full conditions by banks transfer, as evidences to declare, deduct input VAT and included tax expenses.
The company is responsible for preparing and monitoring lists of personal credit cards authorized to pay for goods, services and providing for authority when required.
