OFFICIAL LETTER NO.1145/TCT-CS DATED 10 APRIL 2014 of GDT IN GUIDANCE OF VAT DETERMINATION METHOD
According to official letter No.1145/TCT-CS:
· Enterprise established in 2013 and do not have enough 12 months, however, their revenue still incurred in 2013, they should follow the VAT determination method:
Total item “Total revenue of VAT-liable sale of goods and services” in VAT declaration of the tax period for the months’ incurred business activities divide (:) to the months with the incurred business activities and then multiple (x) 12 months. If the revenue is over 1 billion VND, they will apply to VAT deduction method. If the revenue is less than 1 billion VND, they apply to VAT direct method within 2 years, except that they volunteer to register the VAT deduction method.
· In case, enterprises established in 2013 and do not yet have revenue of 2013, they decide VAT determination method as the newly-established enterprises.
