Decision No. 624/QD-BTC amends certain contents in Circular No. 09/2011/TT-BTC on value-added tax and corporate income tax for the insurance business sector. Specifically, it adjusts the method of issuing value-added tax invoices when collecting insurance premiums and declaring deductions for input value-added tax.
适用范围
Insurance business enterprises
要点
- Joint insurance enterprises must issue value-added tax invoices to customers based on the portion of premium received (Article 1).
- In cases where collection is entrusted to another party or only one enterprise is named in the contract, the provisions at point c, Clause 2, Article 9 of Circular No. 09/2011/TT-BTC shall be followed (Article 1).
- When purchasing goods/services for compensation or related expenses under an insurance contract, the enterprise named on the invoice shall declare deductions for input value-added tax according to general regulations (Article 1).
- In cases where another enterprise is entrusted to pay on behalf, the provisions at point c, Clause 2, Article 9 of Circular No. 09/2011/TT-BTC shall be followed (Article 1).
- This Decision takes effect from the date Circular No. 09/2011/TT-BTC comes into force and is an integral part of that Circular.
🌐 本文件的社会影响
- Helps insurance enterprises comply with value-added tax regulations when collecting insurance premiums and purchasing goods/services for compensation.
- Provides more specific guidance on issuing invoices and declaring deductions for input value-added tax in cases of entrusting collection or payment on behalf.
❓ 常见问题
What contents in Circular No. 09/2011/TT-BTC does Decision No. 624/QD-BTC amend?
This Decision amends the method of issuing value-added tax invoices when collecting insurance premiums and declaring deductions for input value-added tax.
When does Decision No. 624/QD-BTC take effect?
This Decision takes effect from the date Circular No. 09/2011/TT-BTC comes into force.
How should joint insurance enterprises proceed if they entrust another enterprise to collect insurance premiums on their behalf?
They must follow the provisions at point c, Clause 2, Article 9 of Circular No. 09/2011/TT-BTC.
Which enterprise shall declare deductions for input value-added tax when purchasing goods/services for compensation or related expenses under an insurance contract?
The enterprise named on the invoice shall declare deductions for input value-added tax according to general regulations.
How should enterprises proceed if they entrust another enterprise to pay on their behalf?
They must follow the provisions at point c, Clause 2, Article 9 of Circular No. 09/2011/TT-BTC.
全文
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MINISTRY OF FINANCE ------------- Number: 624/QD-BTC |
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SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness ------------------------------- Hanoi, March 18, 2011 |
Pursuant to …;
Regarding the correction of Circular No. 09/2011/TT-BTC dated January 21, 2011 of the Ministry of Finance
guiding value-added tax and corporate income tax for the insurance business sector
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THE MINISTER OF FINANCE
Pursuant to the Law on Legislative Issuance of Regulatory Legal Documents No. 17/2008/QH12 dated June 3, 2008;
Pursuant to Decree No. 100/2010/NĐ-CP dated September 28, 2010 of the Government on the Official Gazette;
Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
At the request of the Director of the Tax Policy Department;
DECISION:
Article 1. The contents set out in Circular No. 09/2011/TT-BTC dated January 21, 2011 of the Ministry of Finance guiding value-added tax and corporate income tax for the insurance business sector are corrected as follows:
Point b, Clause 2, Article 9 was printed as:
"When collecting insurance premiums, each co-insurer enterprise shall issue a VAT invoice to the customer according to the portion of the insurance premium received and declare and pay VAT according to the regulations. In cases where one enterprise is entrusted to collect insurance premiums on behalf of others or only one enterprise is named in the contract, it shall be implemented as with the case of collecting insurance premiums on behalf of others as guided at paragraph d, Clause 2, Article 9 of this Circular.
When purchasing goods or services for compensation or paying other related expenses under the insurance contract, the VAT invoice bearing the name, address, and taxpayer code of which enterprise shall that enterprise declare the deduction of input VAT and record the expense according to the general provisions. In cases where a co-insurer enterprise entrusts another enterprise named in the contract to make payments, it shall be implemented as with the case of making payments on behalf of others as guided at paragraph dClause 2, Article 9 of this Circular."
“商品编码3824.78.00”
"When collecting insurance premiums, each co-insurer enterprise shall issue a VAT invoice to the customer according to the portion of the insurance premium received and declare and pay VAT according to the regulations. In cases where one enterprise is entrusted to collect insurance premiums on behalf of others or only one enterprise is named in the contract, it shall be implemented as with the case of collecting insurance premiums on behalf of others as guided at 3. Receiving deposits and granting credit to non-members of people's credit funds shall be carried out in accordance with the Law on Credit Institutions and guidelines of the State Bank.”, Clause 2, Article 9 of this Circular.
When purchasing goods or services for compensation or paying other related expenses under the insurance contract, the VAT invoice bearing the name, address, and taxpayer code of which enterprise shall that enterprise declare the deduction of input VAT and record the expense according to the general provisions. In cases where a co-insurer enterprise entrusts another enterprise named in the contract to make payments, it shall be implemented as with the case of making payments on behalf of others as guided at 3. Receiving deposits and granting credit to non-members of people's credit funds shall be carried out in accordance with the Law on Credit Institutions and guidelines of the State Bank.”Clause 2, Article 9 of this Circular."
Article 2. This Decision takes effect from the date Circular No. 09/2011/TT-BTC takes effect and is an integral part of Circular No. 09/2011/TT-BTC/.
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Place of Receipt: - Central Party Committee Office and relevant Party Committees; - Prime Minister, Deputy Prime Ministers; - National Assembly Office, President's Office; - Ministries, agencies equivalent to ministries, agencies under the Government; - Supreme People's Procuracy; Supreme People's Court; - State Audit Agency; - Central agencies of mass organizations; - Office of the Central Steering Committee for Combating Corruption; - Provincial People's Committees, Department of Finance of centrally governed cities and provinces; - Tax Departments of centrally governed cities and provinces; - Legal Draft Inspection Department (Ministry of Justice); - Official Gazette; - Government website; - Ministry of Finance website; - To be filed: VT, VP. |
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TUQ. MINISTER DIRECTOR OF THE OFFICE (Signed) Nguyen Duc Chi |
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