Uni 01-10-2014 - Guidance on VAT payment extension and VAT refund for imported machineries to form fixed assets

According to Circular No.134/2014/TT-BTC:

1. The newly-established enterprises from the investment project have not yet gone into operations, enterprises which are operating have the investment project to import machineries to form fixed assets and having difficulties in finance are allowed to extend VAT payment at the import stage and VAT refund if meeting full following conditions:

• Paying VAT under deduction method, is granted the business registration certificate or the investment certificate or license certificate; keeping ledgers, accounting vouchers under regulations; have deposit accounts opened in bank;
• Total value of the imported machineries, equipment to form fixed assets more 100 billion VND;
• The project for production investment, trading goods, services imposed VAT.

2. Enterprises are extended to pay VAT for the imported machineries to form fixed assets within 60 days from the VAT payment deadline.
3. This circular takes effect from 27 Oct 2014.