Circular No. 3822/TC/VP of 2004 by the Ministry of Finance to correct certain contents in Circular No. 120/2003/TT-BTC on value-added tax (VAT), including amendments to examples, clauses, and forms with errors. This document applies to ministries, ministerial-level agencies, provincial people's committees, and mass organizations.
Các điểm cốt lõi
- Ministries, ministerial-level agencies, central government bodies; People's Committees of provinces and centrally-administered cities and Central Bodies of Mass Organizations → must correct the errors in Circular No. 120/2003/TT-BTC according to the specific content stated in this Circular
- Company A in Vietnam hires a foreign company to repair ships → must calculate and pay VAT at 5% on the value of services (Point 5, Section I, Part B)
- Enterprises that aggregate input tax from VND 200 million or more per quarter → may request quarterly refunds (Point 2, Section I, Part D)
- Construction Company M implements construction works for Project B → must comply with the VAT regulations as specified in Example 2, Point 6, Section I, Part D
- The tax payable on Form No. 07C/GTGT is calculated by multiplying by a rate of 3% or 2% (Item number 2, second column of Table)
- Form No. 13/GTGT needs to adjust contents related to legal basis and department names
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❓ Câu hỏi thường gặp
Company A in Vietnam hires a foreign company to repair ships; how much VAT must be paid?
Must calculate and pay VAT at 5% on the value of services (Point 5, Section I, Part B)
Enterprises that aggregate input tax from what amount or more per quarter may request refunds?
From VND 200 million or more (Point 2, Section I, Part D)
Construction Company M implements construction works for which project?
Project B (Example 2, Point 6, Section I, Part D)
The tax payable on Form No. 07C/GTGT is calculated how?
By multiplying by a rate of 3% or 2% (Item number 2, second column of Table)
Form No. 13/GTGT needs to adjust contents related to which legal basis?
Based on Article 16 of the Law on Value-Added Tax; Article 15 of Decree No. 158/2003/NĐ-CP dated December 10, 2003 (Form No. 13/GTGT)
Toàn văn
LETTER
OF THE MINISTRY OF FINANCE NO. 3822 TC/VP ON APRIL 13, 2004
REGARDING CORRECTION OF CIRCULAR NO. 120/2003/TT-BTC
To:
- Ministries, ministerial-level agencies, and government agencies
- People's Committees of provinces and centrally-run cities
- Central bodies of social organizations
The Ministry of Finance has issued Circular No. 120/2003/TT-BTC dated December 12, 2003 to provide detailed guidance on the implementation of Decree No. 158/2003/NĐ-CP dated December 10, 2003 of the Government detailing the implementation of the Law on Value Added Tax and the Law Amending and Supplementing Certain Provisions of the Law on Value Added Tax. During printing, this Circular contained errors that need to be corrected as follows:
- At Example 5 in Point 5, Section I, Part B, it was printed: "Example: Company A in Vietnam hires a company abroad to repair ships... then Company A must calculate and pay VAT at 10% on the amount of 100 million VND." This is now corrected to read: "Example: Company A in Vietnam hires a company abroad to repair ships... then Company A must calculate and pay VAT at 5% on the amount of 100 million VND."
- At the end of Point 2, Section I, Part D, it was printed: "In cases where input tax is aggregated quarterly exceeding 200 million VND, enterprises may request a refund quarterly." This is now corrected to read: "In cases where input tax is aggregated quarterly at or above 200 million VND, enterprises may request a refund quarterly."
- At Example 2 in Point 6, Section I, Part D, it was printed: "Construction Company M implements construction work for Project C...", This is now corrected to read: "Construction Company M implements construction work for Project B..."
- In Form No. 07C/GTGT, item number 2 in the second column "indicator" of the Table, it was printed: "Tax payable (= 1 x 3%)", This is now corrected to read: "Tax payable (= 1 x 3% or = 1 x 2%)." - In Form No. 13/GTGT:
+ The first bullet point was printed "- Based on Article 16 of the Law on Value Added Tax (VAT); Article 15 of Decree No. 79/2000/NĐ-CP dated December 29, 2000 of the Government detailing the implementation of the Law on VAT;", This is now corrected to read: "- Based on Article 16 of the Law on Value Added Tax (VAT); Article 15 of Decree No. 158/2003/NĐ-CP dated December 10, 2003 of the Government detailing the implementation of the Law on VAT and the Law Amending and Supplementing Certain Provisions of the Law on VAT;"
+ The second bullet point was printed "- Based on guidance in Part D of Circular No. 125/2003/TT-BTC dated December 12, 2003...", This is now corrected to read: "- Based on guidance in Part D of Circular No. 120/2003/TT-BTC dated December 12, 2003..."
+ The third bullet point was printed "- Based on Decision No. 1362/1998/QĐ-BTC...", This is now corrected to read: "- Based on Decision No. 1632/1998/QĐ-BTC..."
+ Article 3, line 3 (from top down) was printed "... Mr./Ms. Head of Planning - Accounting - Statistics, Computer and ...", This is now corrected to read: "... Mr./Ms. Head of Consolidation and Forecasting; Mr./Ms. Head of Information Technology and Tax Data Processing and..."
The Ministry of Finance sincerely apologizes for the above errors and requests that relevant agencies assist in making corrections to implement them.
The Ministry of Finance sincerely apologizes for the error above and requests that relevant agencies assist in correcting it to ensure implementation.
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