Circular No. 1182-TC/TCT of 1999 by the Ministry of Finance stipulates the list of goods eligible for a 50% reduction in VAT when imported, produced, and traded. Coal, tractors, traction engines, water pumps, machine tools, and power units are included in this list and are entitled to preferential treatment on VAT.
Đối tượng áp dụng
Ministries, ministerial-level agencies, government-affiliated agencies - People's Committees of provinces and centrally governed cities
Các điểm cốt lõi
- Coal, tractors, traction engines, water pumps, machine tools, and power units are eligible for a 50% reduction in VAT when imported; produced and traded commercially.
- The applicable tax rate for calculating and declaring VAT on imported goods, recorded on the VAT invoice, is the reduced 50% tax rate.
- Specialized machinery and equipment imported under the list attached to this circular, if falling within the scope defined in Point 4, Section II of Circular No. 89/1998/TT-BTC, are exempt from VAT.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Reducing the cost burden for businesses and consumers through a reduction in VAT, encouraging the production and importation of agricultural machinery.
- Negative impact: May lead to market imbalance if the list of goods eligible for preferential treatment is not strictly managed.
❓ Câu hỏi thường gặp
Which types of goods are eligible for a 50% reduction in VAT?
Coal, tractors, traction engines, water pumps, machine tools, and power units are listed in the attachment to this circular.
What is the applicable tax rate for calculating and declaring VAT on imported goods?
The applicable tax rate for calculating and declaring VAT on imported goods, recorded on the VAT invoice, is the reduced 50% tax rate.
Are specialized machinery and equipment imported under this list subject to VAT?
If specialized machinery and equipment imported under the list attached to this circular fall within the scope defined in Point 4, Section II of Circular No. 89/1998/TT-BTC, they are exempt from VAT.
Who should report to the Ministry of Finance if there is a need to supplement, amend, or address issues with the list?
Agencies and units are requested to report to the Ministry of Finance any need to supplement, amend, or address issues with the list during implementation.
What types of goods are included in the list eligible for a 50% reduction in VAT?
This circular specifically lists coal, tractors, traction engines, water pumps, machine tools, and power units included in the attached list.
Toàn văn
LETTER
OF THE MINISTRY OF FINANCE NO. 1182/TC/TCT DATED MARCH 16, 1999
REGARDING THE LIST OF GOODS ELIGIBLE FOR A 50% REDUCTION IN VALUE ADDED TAX (VAT)
Respected: - Ministries, ministerial-level agencies, government-affiliated agencies
- PROVINCES AND URBAN AREAS UNDER THE CENTRAL GOVERNMENT
Pursuant to Clause 5, Article 1 of Decree No. 102/1998/NĐ-CP dated December 21, 1998 of the Government amending and supplementing certain provisions of Decree No. 28/1998/NĐ-CP dated May 11, 1998 of the Government detailing the implementation of the Law on Value Added Tax (VAT); Point 2, Section VI of Circular No. 175/1998/TT-BTC dated December 24, 1998 of the Ministry of Finance guiding the implementation of this decree; Circular No. 20/1999/TT-BTC dated February 10, 1999 of the Ministry of Finance guiding amendments and supplements to Circular No. 175/1998/TT-BTC which have specified types of goods and services eligible for a 50% reduction in VAT rate. After receiving the opinions of the Ministry of Industry in Document No. 513 CV/TCKT dated February 9, 1999 and the opinions of the General Department of Customs in Document No. 1100/TCHQ-KTTC dated March 1, 1999 regarding the determination of the list of goods, the Ministry of Finance guides the implementation as follows:
1. Types of coal, tractors, traction engines, water pumps, machine tools, power units (listed in the accompanying document) are eligible for a 50% reduction in VAT when imported; produced and sold in commercial transactions.
2. The tax rate for calculating and declaring VAT on imported goods, recorded on the VAT invoice, shall be the reduced VAT rate.
Imported specialized machinery and equipment listed in the accompanying document, if falling within the scope defined in Point 4, Section II of Circular No. 89/1998/TT-BTC dated June 27, 1998 of the Ministry of Finance, shall not be subject to VAT.
During the implementation process, if any additional items need to be added, modified, or if there are any issues, please report to the Ministry of Finance for timely consideration and resolution.
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