This circular of the Ministry of Finance provides guidance on applying a 5% tax rate for crude casting products made from cast iron and aluminum within the framework of the Value Added Tax Law (VAT). The document also explains how to handle cases where taxes were previously paid at a 10% rate before this circular took effect.
적용 범위
Provincial and centrally-administered city Tax Departments and related enterprises
핵심 사항
- Crude casting products made from cast iron and aluminum used for further production or processing are subject to a VAT rate of 5% (Point 2.34, Section II, Part B, Circular No. 120/2003/TT-BTC).
- Cases where taxes were previously paid at a 10% rate before this circular took effect will not be adjusted for refund.
- Enterprises producing crude casting products made from cast iron and aluminum will reduce their VAT burden.
- Provincial and centrally-administered city Tax Departments shall provide additional guidance to implement the tax policy.
🌐 이 문서의 사회적 영향
- Enterprises producing crude casting products made from cast iron and aluminum will reduce their VAT burden.
- Provincial and centrally-administered city Tax Departments shall provide additional guidance to implement the tax policy.
❓ 자주 묻는 질문
What is the applicable tax rate for crude casting products made from cast iron and aluminum?
The applicable tax rate is 5% as stipulated in Point 2.34, Section II, Part B, Circular No. 120/2003/TT-BTC.
If taxes were previously paid at a 10% rate, can enterprises receive refunds?
No, cases where taxes were previously paid at a 10% rate before this circular took effect will not be adjusted for refund.
전문
LETTER
OF THE MINISTRY OF FINANCE NUMBER 11945 TC/TCT DATED OCTOBER 21, 2004
REGARDING GUIDELINES FOR TAX POLICY
RESPECTED: Provincial Tax Departments
Recently, the Ministry of Finance received several inquiries from provincial tax departments and enterprises regarding the VAT rate for semi-finished aluminum and iron cast products; in response to this matter, the Ministry of Finance provides the following opinion:
BASED ON THE PROVISIONS SET FORTH IN POINT 2.34, SECTION II, PART B OF CIRCULAR NUMBER 120/2003/TT-BTC DATED DECEMBER 12, 2003 ISSUED BY THE MINISTRY OF FINANCE TO IMPLEMENT DECREE NUMBER 128/2003/NĐ-CP DATED DECEMBER 10, 2003 OF THE GOVERNMENT PROVIDING GUIDELINES FOR THE IMPLEMENTATION OF THE LAW ON VALUE ADDED TAX AND THE AMENDMENTS AND SUPPLEMENTS TO CERTAIN PROVISIONS OF THE LAW ON VALUE ADDED TAX, WHICH SETS A VAT RATE OF 5% FOR GOODS: PRODUCTS OF IRON AND STEEL METAL ROLLING, NON-FERROUS METAL ROLLING, PRECIOUS METAL ROLLING, EXCEPT IMPORTED GOLD. PRODUCTS OF IRON AND STEEL METAL ROLLING, NON-FERROUS METAL ROLLING, PRECIOUS METAL ROLLING INCLUDE RAW MATERIALS OR PRODUCTS DIRECTLY FROM THE METAL ROLLING INDUSTRY IN FORMS SUCH AS BARS, BLOOMS, SHEETS, WIRE. PROCESSED PRODUCTS OF IRON AND STEEL METAL ROLLING, NON-FERROUS METAL ROLLING, PRECIOUS METAL ROLLING ARE SUBJECT TO VAT AT THE RATE APPLICABLE TO THEIR SPECIFIC ITEMS.
ACCORDING TO THE ABOVE MENTIONED PROVISIONS, SEMI-FINISHED CAST PRODUCTS FROM IRON AND ALUMINUM USED FOR FURTHER MANUFACTURING OR PROCESSING SHALL BE SUBJECT TO A 5% VAT RATE.
IN CASES PRIOR TO THE ISSUANCE OF THIS DOCUMENT, BUSINESSES HAVE DECLARED TAX AT A 10% RATE OR AT A 5% RATE AND THE TAX AUTHORITY HAS CALCULATED, COLLECTED, AND THE BUSINESS HAS ALREADY PAID ACCORDINGLY, NO ADJUSTMENTS FOR REFUNDS SHALL BE MADE.
THE MINISTRY OF FINANCE ANNOUNCES THIS INFORMATION TO PROVINCIAL TAX DEPARTMENTS FOR THEIR AWARENESS AND GUIDANCE TO BUSINESSES IN IMPLEMENTATION.
관계도
문서를 클릭하면 열립니다. 빨간 테두리＝효력을 변경하는 관계.