Decision No. 65/2000/QĐ-TTg On reducing value-added tax payable by sugar manufacturing enterprises

Pursuant to …;

Regarding the reduction of value-added tax payable by sugar manufacturing enterprises

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PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

Based on the Value-Added Tax Law No. 02/1997/QH9 dated May 10, 1997;

To address the difficulties faced by sugar manufacturing enterprises in the short term;

At the proposal of the Minister of Finance,

DECISION:

Article 1. Permitting sugar manufacturing enterprises to reduce the value-added tax payable on sugar products, by-products, and waste materials recovered during the sugar production process as follows:

1. In 1999, the reduction shall be equivalent to the amount of loss, but not exceeding the total value-added tax payable for that year.

2. In 2000, temporarily reduce by 50% the monthly value-added tax payable.

When settling accounts at the end of 2000, if the temporarily reduced monthly value-added tax exceeds the actual loss, the reduction shall only be equal to the actual loss, with the difference between the temporarily reduced tax and the actual loss to be paid to the state budget within ten days from the date of submitting the annual tax settlement report. If, after reducing 50% of the value-added tax payable, the enterprise still incurs a loss for the entire year, the value-added tax payable may be reduced by the actual loss amount, but the maximum reduction shall not exceed the total value-added tax payable for the year.

Article 2. This Decision takes effect from the date of signature.

Article 3. The Minister of Finance shall provide guidance for the implementation of this Decision.

The Ministers, Heads of Ministries equivalent to Ministries, Heads of Government Agencies, and Chairmen of Provincial and Central City People's Committees are responsible for implementing this Decision./.