Circular No. 47/TC-TCT guides the examination for exemption from import and export tax and refund of import and export tax for foreign-invested enterprises. The document stipulates conditions for exemption from tax, procedures for tax payment, deadlines for tax payment, and the process for examination of tax refunds.
适用范围
Foreign-invested enterprises in Vietnam
要点
- Foreign-invested enterprises → are exempt from import tax on equipment, machinery, spare parts, production and business means to build the enterprise or form fixed assets to implement joint venture contracts → as provided for in Article 76 of Decree No. 18-CP dated April 16, 1993.
- Foreign-invested enterprises → must pay import tax on imported goods exceeding the specified limit compared to the economic and technical justification.
- Foreign-invested enterprises → are not exempt from import tax when liquidating fixed assets that have been exempted from tax for the first time to reinvest in modernizing equipment (including transportation means).
- Foreign-invested enterprises → must pay import tax on raw materials imported for producing export goods if exported more than 90 days from the date of receiving the customs authority's notification of the amount of tax due.
- The Ministry of Finance → is responsible for examining and refunding taxes according to regulations within 30 days from the date of receipt of complete files.
🌐 本文件的社会影响
- Positive impact: Helps foreign-invested enterprises reduce import costs, promote investment, and boost economic development.
- Negative impact: May impose financial burdens on businesses if they fail to comply with the tax payment deadline.
- Enterprises will need to strictly manage the use of goods that have been exempted from tax to avoid late payment penalties.
❓ 常见问题
What should foreign-invested enterprises do to be exempt from import tax?
To be exempt from import tax, enterprises must obtain the agreement of the Ministry of Finance and the State Committee for Cooperation and Investment. The file includes the investment license, approved economic and technical justification, and import plan issued by the Ministry of Trade.
What is the deadline for paying import tax on raw materials imported for producing export goods?
The deadline for paying import tax is 90 days from the date the entity receives the official notification of the amount of tax due from the customs authority.
If the enterprise exports products after 90 days, how will they be penalized?
If exporting products after 90 days, the enterprise must pay the full import tax and may be subject to late payment penalties as prescribed by law.
How many files are needed to apply for exemption from import tax?
It is necessary to prepare a request letter from the entity, investment license, economic and technical justification, import plan issued by the Ministry of Trade, and other documents as required.
How long does the Ministry of Finance take to examine and refund taxes?
The Ministry of Finance must complete the tax refund procedure for taxpayers within 30 days from the date of receipt of complete files. Beyond this period, the enterprise is entitled to interest on the delayed refund amount.
全文
| MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness |
|
No.: 47/TC-TCT |
Hanoi, June 1, 1994 |
CIRCULAROF THE MINISTRY OF FINANCE
Guidelines for considering tax exemptions and refunds on import and export taxes for foreign-invested enterprisesimport and export clearance for foreign-invested enterprises
Pursuant to Decree No. 54/CP dated August 28, 1993 and Decree No. 18-CP dated April 16, 1993 of the Government detailing the implementation of the Law on Export Tax and Import Tax and the Law on Foreign Investment in Vietnam;
To strictly and uniformly manage goods exported and imported by foreign-invested enterprises in Vietnam; after reaching consensus with the State Committee for Cooperation and Investment and the Ministry of Trade, the Ministry of Finance provides guidance as follows:
1. Goods exported and imported by foreign-invested enterprises and by foreign partners conducting business cooperation based on joint venture contracts in special cases that encourage investment. After reaching agreement with the Ministry of Finance and the State Committee for Cooperation and Investment, tax exemptions will be considered for each specific case.
The aforementioned tax exemptions shall be implemented according to Article 76 of Decree No. 18-CP dated April 16, 1993. The Ministry of Finance will process tax exemptions based on the investment permit issued by the State Committee for Cooperation and Investment and the list of equipment, machinery, spare parts, production and business facilities, and imported materials issued by the Ministry of Trade for basic construction to form enterprises or to create fixed assets for implementing joint venture contracts.
The tax exemption dossier includes:
A request letter from the unit.
An investment permit issued by the State Committee for Cooperation and Investment.
An economic and technical justification approved by the competent authority.
An import plan issued by the Ministry of Trade clearly defining the list of equipment, machinery, spare parts, production and business facilities (including transportation means), and imported materials for basic construction to form enterprises or to create fixed assets for implementing joint venture contracts.
An import permit for the shipment.
A customs declaration already cleared by Customs.
A tax notification from the customs authority.
Any equipment, materials, transportation means, or machinery imported into Vietnam for basic construction to form enterprises or to create fixed assets for implementing joint venture contracts beyond the specified amount in the economic and technical justification shall not be exempted from tax.
In the case where a foreign-invested enterprise liquidates fixed assets that were initially exempted from import tax and now requires reinvestment to modernize equipment (including transportation means), such imports shall not be exempted from tax.
Annually, foreign-invested enterprises and foreign partners conducting business cooperation based on joint venture contracts must report to the Ministry of Finance the entire situation regarding the management and use of goods that have been exempted from tax (according to the attached model).
The reporting deadline is no later than January 31 of the following year. Without a report, the Ministry of Finance will not process tax exemptions for subsequent export shipments.
2. Refunds on raw materials imported for producing export goods.
Raw materials and materials imported by foreign-invested enterprises for producing export goods must pay import tax. When the finished products are exported, the tax will be refunded. The tax payment period is 90 days from the date the unit receives the official tax amount notification from the customs authority.
If the unit exports finished products abroad within the tax payment period (90 days), it does not need to pay import tax. The customs authority will check and process the clearance of the corresponding import tax amount for the actual exported product quantity.
If the unit exports products after 90 days, it must pay the full import tax. Upon exporting the products, the Ministry of Finance will consider refunding the import tax on the raw materials corresponding to the actual exported product quantity. Late payments will incur late payment penalties as stipulated by law. The dossier for considering tax refunds includes:
A letter requesting a refund of paid import tax (with a detailed explanation of the export quantity, material consumption rate, and requested tax refund amount) confirmed by the local Tax Bureau regarding the material consumption rate and usage for export production.
An export contract signed with foreign parties (clearly stating the quantity, specifications, quality, type... of exported goods).
A receipt for paid import tax.
A consignment export and import contract (if consignment export and import).
3. Implementation Organization
The Ministry of Finance assigns the General Department of Taxation to inspect, monitor, and process tax exemptions and refunds in accordance with regulations. Within 30 days from receiving the complete tax refund application dossier, the Ministry of Finance must complete the tax refund procedures for taxpayers. Beyond this period, in addition to the tax refund amount, taxpayers will also receive interest calculated on the delayed tax refund amount according to the bank deposit interest rate at the time of refund. This circular takes effect from June 1, 1994. Previous guidelines inconsistent with this circular are abolished.
|
HO THE (Signed) |
Unit...
Number …
REPORT ON MANAGEMENT AND USE OF IMPORTED GOODS BELONGING TO THE TOTAL FOREIGN INVESTMENT FOR BASIC CONSTRUCTION TO FORM ENTERPRISES AND CREATE FIXED ASSETS
|
Provincial People's Committees set specific prices |
Catalog |
Declaration of import and export goods |
Quantity |
Unit price |
Total value |
Amount of |
Amount of |
Ministry of Finance's import and export tax exemption letter |
Quantity used |
Exempted goods sold on the market |
Quantity |
Remarks |
||||
|
No. |
import and export items |
number |
The Open Source Software Steering Committee operates on a part-time basis. The Open Source Software Steering Committee has a working group assisting the Steering Committee. |
|
|
Quantity (details of each vehicle) |
Import and export taxes payable (VND) |
Import and export taxes exempted (VND) |
number |
The Open Source Software Steering Committee operates on a part-time basis. The Open Source Software Steering Committee has a working group assisting the Steering Committee. |
in construction and creation of fixed assets |
Quantity |
Amount of import tax already paid (VND) |
Remaining import tax payable (VND) |
unused goods |
|
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
12 |
13 |
14 |
15 |
16 |
17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Explanation: Clearly analyze advantages and difficulties during implementation, reasons for sales (if applicable); reasons for tax arrears on sold goods (if applicable)...
Date...
Confirmation by Tax Bureau Preparer Director
(Signature, stamp)
关系图
点击文件即可打开。红色边框＝改变效力的关系。