Circular No. 1284-TC/CTN issued by the Ministry of Finance in 1990 adjusts the payment of stamp duty for imported assets, specifies the value used to calculate the stamp duty, and applies from September 1, 1990.
Scope of application
Organizations (including agencies, enterprises, cooperatives...) and individuals
Key points
- Organizations and individuals importing assets must pay the stamp duty when registering for use.
- The value for calculating the stamp duty for assets with valid invoices is the total foreign currency amount stated on the invoice plus import tax, converted to Vietnamese Dong at the exchange rate of the State Bank at the time of payment.
- If there is no invoice or if the invoice is invalid, the value for calculating the stamp duty is based on the market price at the time of registration.
- This provision applies from September 1, 1990.
- Any difficulties encountered during implementation should be reported to the Ministry of Finance for study and resolution.
🌐 Social impact of this document
- Increase state budget revenue from the payment of stamp duty for imported assets.
- Organizations and individuals may face difficulties in determining the value for calculating the stamp duty if there is no valid invoice.
❓ Frequently asked questions
Which organizations must pay the stamp duty when importing assets?
Organizations such as agencies, enterprises, cooperatives, and individuals must all pay the stamp duty.
What is the value used to calculate the stamp duty for assets with valid invoices?
It is the total foreign currency amount stated on the invoice plus import tax, converted to Vietnamese Dong at the exchange rate of the State Bank at the time of payment.
If there is no invoice or if the invoice is invalid, what is the value used to calculate the stamp duty based on?
Based on the market price at the time of registration.
When was this provision implemented?
From September 1, 1990.
What should be done if encountering difficulties during implementation?
Report to the Ministry of Finance for study and resolution.
Full text
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
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No.: 1284-TC/CTN |
Hanoi, August 27, 1990 |
CIRCULAR
OF THE MINISTRY OF FINANCE NO. 1284-TC/CTN DATED AUGUST 27, 1990 AMENDING CERTAIN POINTS REGARDING PRESCRIPTION FEES
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To: |
- Ministries, General Departments and subordinate agencies of the Council of Ministers |
In implementing Decree No. 222/HĐBT dated December 5, 1987 of the Council of Ministers on prescription fees and certification fees pursuant to Circulars Nos. 75-TC/CTN dated December 29, 1987 and No. 30-TC/CTN dated August 11, 1989, the Ministry of Finance supplements guidance on payment of prescription fees as follows:
Article 1. Decree No. 222/HĐBT stipulates:
"In all cases where ownership or usage rights over real estate, automobiles, motorcycles and other items are transferred through purchase, exchange, gift, inheritance, etc., registration procedures must be completed and prescription fees paid to the tax authority."Therefore, assets imported by organizations (including agencies, enterprises, foreign-invested enterprises, cooperatives, etc.) or individuals (including personal property brought back from abroad by Vietnamese citizens working, studying, or traveling) when registering for use must pay prescription fees into the State budget.
Article 2. Value of assets for calculating prescription fees:
- For assets with valid invoices and documents (imported from abroad), the value for calculating prescription fees is the foreign currency amount stated on the invoice plus any import duties (trade or non-trade) payable, converted to Vietnamese Dong at the exchange rate published by the State Bank of Vietnam at the time of registration.
- In cases where there are no invoices or invalid documents, the market value at the time of registration shall be used for calculating prescription fees.
This provision shall take effect from September 1, 1990. During implementation, any difficulties should be reported to the Ministry of Finance for study and resolution.
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Phan Van Dinh (Signature) |
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