NEWSLETTER FROM 16 OCTOBER – 15 NOVEMBER 2020
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VAT on sales to EPE and dosmetic company (Official letter No. 91495/CT-TTHT dated 16/10/2020 of Hanoi Tax Department) |
-” In case the company purchases goods from a foreign supplier but does not carry out import procedures into Vietnam but resells them to customers being domestic enterprises in Vietnam (hereinafter referred to as the buyer), provided that the goods are delivered at the port / Vietnam airport (CIF Incoterm 2010 delivery terms) and the buyer is the person who carries out the import procedures and pays the related taxes (if any) at the stage of import, the sale of goods above is not enough conditions to apply the tax rate of 0%. The company must issue an invoice, calculate and declare the output VAT when selling goods to customers in Vietnam according to regulations.
– If the taxpayer has a document of VAT payment at the import stage bearing the taxpayer’s name and satisfies the conditions for VAT deduction, the taxpayer may declare and be duductible input VAT according to regulations.” |
