Circular No. 8482/TC/TCT of 2004 by the Ministry of Finance stipulates the application of a 5% VAT rate to unfinished construction and installation works from contracts signed before January 1, 2004, allowing registration up to June 1, 2004.
适用范围
Enterprises with construction and installation contracts signed before January 1, 2004, and having unfinished construction and installation works carried over to 2004.
要点
- Construction and installation entities are entitled to apply a 5% VAT rate to the remaining volume and project components of construction and installation works under contracts signed before January 1, 2004.
- Register the list of construction and installation contracts with the tax authority by June 1, 2004.
- Provincial Tax Departments shall inspect and confirm the actual situation of units to apply the 5% tax rate.
🌐 本文件的社会影响
- Reduce the tax burden on enterprises with unfinished construction and installation works carried over to 2004.
- Facilitate declaration and reporting to the tax authority, reducing waiting time for units.
❓ 常见问题
What tax rate can enterprises apply?
5%
The deadline for registering the list of construction and installation contracts is what?
Before June 1, 2004.
Which construction projects can enterprises apply this tax rate to?
The remaining volume and project components of construction and installation works under contracts signed before January 1, 2004.
What must enterprises do to apply this tax rate?
Register the list of construction and installation contracts with the directly managing tax authority by June 1, 2004.
What requirements does the Tax Department have for enterprises?
Conduct specific inspections and confirm the actual situation of units to apply the 5% tax rate.
全文
LETTER
OF THE MINISTRY OF FINANCE NO. 8482 TC/TCT ON AUGUST 2, 2004
REGARDING THE APPLICATION OF A 5% VAT RATE
FOR UNCOMPLETED CONSTRUCTION WORK VOLUMES
Dear: Provincial Tax Departments
The Ministry of Finance has received letters from some enterprises requesting to apply a 5% VAT rate for unfinished construction work volumes carried over from 2003 to 2004 but declared late to tax authorities. Regarding this matter, the Ministry of Finance provides the following opinion:
Pursuant to Article II - Part H - Circular No. 120/2003/TT-BTC dated December 12, 2003 of the Ministry of Finance: Construction and installation entities with contracts signed before January 1, 2004 at prices including a 5% VAT rate, if unfinished construction and installation works remain incomplete by December 31, 2003, shall continue to apply the 5% rate to the remaining volume and items of construction and installation work according to the contract, and these entities must report to the directly managing tax authority the list of contracts applying the 5% rate in January 2004.
Considering the actual situation where some units received the documents late, subordinate units were unable to submit reports on time; additionally, due to scattered construction sites and many projects located in remote areas with difficult access, the transfer of declaration files was delayed, leading to overdue declarations to the tax authority.
To facilitate entities that signed construction and installation contracts before January 1, 2004 and have unfinished construction work carried over to 2004, the Ministry of Finance agrees to allow these entities to delay registering their construction and installation contracts with the tax authority until June 1, 2004, and still apply a 5% VAT rate to unfinished construction work.
It is requested that Provincial Tax Departments check the construction and installation contracts of entities that declared late, and if the contracts were signed before January 1, 2004 and include unfinished construction work carried over to 2004, they should be allowed to apply a 5% VAT rate.
The Ministry of Finance informs Provincial Tax Departments of this decision for their knowledge and implementation.
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