This Circular amends and supplements certain provisions on the calculation of VAT for the electricity industry. In particular, it focuses on the method of calculating output VAT and the deduction of input VAT for units under Vietnam Electricity Corporation as well as Electricity Companies I, II, and III.
적용 범위
Vietnam Electricity Corporation, Electricity Companies I, II, and III, and provincial and municipal electricity companies.
핵심 사항
- The Office of Vietnam Electricity Corporation allocates input VAT to affiliated Electricity Companies based on 5% of internal electricity sales price (Point 1 Section II).
- Electricity Companies I, II, and III must determine the allocation of input VAT based on electricity sales revenue and notify provincial and municipal electricity companies (Point 2.2.b Part II).
- Output VAT on electricity products is calculated at 10% of the electricity sales price excluding VAT (Point 2.2.b Part II).
- Provincial and municipal electricity companies must determine the amount of VAT payable based on electricity sales revenue and allocated input VAT from Electricity Companies (Point 2.2.b Part II).
- This Circular abolishes regulations that conflict with the amended and supplemented provisions herein.
🌐 이 문서의 사회적 영향
- To help the electricity industry calculate VAT more accurately and appropriately.
- Increases the burden on units required to declare, allocate, and deduct VAT.
- Tax authorities have additional grounds to inspect and supervise the payment of VAT by the electricity industry.
❓ 자주 묻는 질문
How does the Office of Vietnam Electricity Corporation allocate input VAT to affiliated Electricity Companies?
By 5% of the internal electricity sales price (Point 1 Section II).
What criteria must Electricity Companies I, II, and III base their determination of input VAT allocation on?
Based on electricity sales revenue and notifying provincial and municipal electricity companies (Point 2.2.b Part II).
How is output VAT on electricity products calculated?
At 10% of the electricity sales price excluding VAT (Point 2.2.b Part II).
On what criteria must provincial and municipal electricity companies determine the amount of VAT payable?
Based on electricity sales revenue and allocated input VAT from Electricity Companies (Point 2.2.b Part II).
When does this Circular take effect?
Fifteen days after the date of issuance.
전문
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
|
Number: 05/2000/TT-BTC |
Hanoi, January 12, 2000 |
CIRCULAR
CIRCULAR NO. 05/2000/TT-BTC OF THE MINISTRY OF FINANCE ON AMENDMENTS AND SUPPLEMENTS TO CIRCULAR NO. 146/1998/TT-BTC DATED NOVEMBER 12, 1998 GUIDING THE CALCULATION AND PAYMENT OF VALUE-ADDED TAX FOR THE ELECTRICITY SECTOR
Pursuant to the Law on Value-Added Tax (VAT) No. 02/1997/QH9 dated May 10, 1997; Government Decree No. 28/1998/NĐ-CP dated May 11, 1998 detailing the implementation of the Law on VAT; Government Decree No. 102/1998/NĐ-CP dated December 21, 1998 amending and supplementing certain provisions of Government Decree No. 28/1998/NĐ-CP (mentioned above);
To implement the calculation and payment of VAT for electricity products in accordance with the production and business organization of the electricity sector and the amount of VAT generated from electricity products in localities; after reaching consensus with Vietnam Electricity Corporation through Circular No. 6902 EVN/TCKT dated November 23, 1999, the Ministry of Finance guides amendments and supplements to some provisions of Circular No. 146/1998/TT-BTC dated November 12, 1998 guiding the declaration and payment of VAT for the electricity sector as follows:
I. AMENDMENTS TO THE METHOD OF CALCULATING VAT FOR ELECTRICITY PRODUCTS:
1. Amending Point 1 of Section II regarding the determination of VAT for electricity products:
The deductible VAT input tax of centralized accounting units under the Office of the Corporation shall be allocated for deduction at the affiliated Power Companies at 5% of the internal electricity selling price. The 5% rate is calculated based on the internal electricity selling price, which is equivalent to the VAT output tax of the Corporation (centralized accounting unit at the Office of the Corporation) and the VAT input tax of the Power Companies.
The Corporation shall declare and calculate the VAT payable for centralized accounting electricity products as follows:
|
Value Added Tax Payable |
= |
TOTAL FILM PRODUCTION COSTS |
- |
Deductible VAT input tax |
Where:
- VAT output tax is determined by allocating the VAT to the affiliated Power Companies as follows:
|
VAT output tax |
= |
Quantity of electricity sold |
x |
Internal electricity selling price (excluding VAT) |
x |
5% |
- The deductible VAT input tax includes VAT input tax incurred at centralized accounting units and VAT input tax incurred at the Corporation's Office, deducted according to regulations.
2. Amending Point 2.2.b of Part II regarding the determination of the VAT payable for electricity products at provincial power companies under Power Companies I, II, and III as follows:
a. The common VAT input tax of the Company is allocated to provincial power companies as follows:
|
|
|
Total VAT input tax to be allocated Total sales revenue from electricity sales of the entire Company (excluding VAT) |
|
|
In cases where sales revenue, electricity purchase and sale volume, as well as VAT input and output tax of electricity products cannot be determined, the Company bases its allocation on plans and adjusts according to actual figures upon settlement.
Example:
For the first quarter of 2000, based on the plan for electricity purchases and sales and the purchase price set by the Corporation, Power Company I estimates that the deductible VAT input tax for the quarter will be 100 billion VND, including:
+ VAT input tax of electricity purchased from the Corporation is 98 billion VND.
+ VAT input tax collected from invoices for goods and services used in electricity operations at the Company's Office and auxiliary units is 2 billion VND.
The planned sales revenue from electricity assigned by the Company to provincial power companies for the first quarter of 2000 is 22,000 billion VND, with a planned electricity volume of 2.5 billion kWh.
The VAT input tax allocation ratio based on sales revenue for provincial power companies to deduct is:
100 billion VND / 22,000 billion VND x 100 = 0.455%
Based on the VAT input tax allocation ratio based on sales revenue determined by the Company at 0.455%, the Company informs provincial power companies to determine the VAT input tax (allocated portion) for electricity sold at their locations.
b. The VAT payable by provincial power companies is determined as follows: VAT on sales revenue from electricity (+) VAT on other goods and services (if any) minus (-) VAT input tax of electricity products allocated based on sales revenue and VAT input tax incurred at provincial power companies that can be deducted.
- VAT output tax on electricity sold is determined based on electricity sales invoices, calculated at 10% of the electricity selling price excluding VAT.
- VAT input tax of electricity products allocated based on sales revenue is determined as follows: allocation ratio based on sales revenue (%) multiplied by (x) sales revenue from electricity of the power company.
Example:
Phu Tho Provincial Power Company, a unit under Power Company I, generated sales revenue from electricity of 30 billion VND in January, with VAT output tax of 3 billion VND and VAT input tax incurred at the power company of 0.1 billion VND. The VAT payable is determined as follows:
- Deductible VAT input tax based on the allocation ratio by the Company/sales revenue = 30 billion VND x 0.455% = 1.365 billion VND.
- Total deductible VAT input tax: 1.365 billion VND + 0.1 billion VND = 1.465 billion VND.
- VAT payable by Phu Tho Provincial Power Company = 3 billion VND - 1.465 billion VND = 1.535 billion VND.
II. IMPLEMENTATION
1. Vietnam Electricity Corporation bases the VAT payable for electricity products at the Corporation and its affiliated units on the state-prescribed electricity selling price and the price sold to Power Companies, and reports to the Ministry of Finance and the General Department of Taxation for annual budget revenue planning.
2. Power Companies I, II, and III base the VAT input tax allocation for electricity products on the electricity volume and purchase and sale prices for the year or each quarter, inform provincial power companies under their jurisdiction, and send copies to the Tax Departments where the power companies operate.
3. Vietnam Electricity Corporation is responsible for guiding affiliated units to declare and pay VAT according to this Circular.
4. This Circular takes effect 15 days from the date of issuance. Provisions in Circular No. 146/1998/TT-BTC that conflict with the amended and supplemented provisions in this Circular are abolished.
Other provisions not covered in this Circular continue to be implemented according to Circular No. 146/1998/TT-BTC.
During the implementation process, if any difficulties arise, units are requested to report to the Ministry of Finance for consideration and resolution.
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Pham Van Trong (Signed) |
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