OFFICIAL LETTER 3273/TCT-TTr DATED 21 JULY 2016 OF GDT GUIDING TAX ADMINISTRATION FOR IMPORTED AUTOMOBILES AS GIFTS
According to official letter 3273/TCT-TTr, to promptly protect evasion, fraud behaviors of special consumption tax and CIT and VAT for the unit establishments importing automobiles as gifts:
- From 26 Oct 2015, in compliance with clause 3 article 3 Circular 143/2015/TT-BTC, within 01 (one) year, each Vietnamese organization, individual only imports 01 automobile and 01 motorbike from an oversea organization, individual as a gift.
- When importing it, the unit establishments record to other income to compute CIT, the individual declares PIT for the imported one as the same as cost of goods sold of the imported one fixed by customs authority.
- In case, the unit establishments sell it as a gift, an offering more lowly than the normal transaction price in the market, their kinds of tax amounts will be fixed by tax authority.
