This document addresses the order of tax collection when disposing of collateral assets to recover debts for credit institutions. Accordingly, only taxes and fees directly generated from the sale of assets are collected, excluding any existing overdue taxes of the borrower.
要点
- The State Bank of Vietnam and the Ministry of Finance guide the collection of taxes when disposing of collateral assets according to Circular No. 8953/TC/TCT dated August 15, 2002.
- Taxes and fees paid into the budget only include those directly generated from the sale of collateral assets, excluding any overdue taxes of the borrower (Point 1.2 Joint Circular No. 03/2001/TTLT/NHNN-BTP-BCA-BTC-TCĐC).
- The Ministry of Finance requests provincial and municipal Tax Departments to uniformly implement the above provisions.
- The collection of taxes and fees paid into the budget must be conducted after covering necessary expenses for disposing of collateral assets (Point 1.2 Joint Circular No. 03/2001/TTLT/NHNN-BTP-BCA-BTC-TCĐC).
- Principal, interest on loans, and overdue interest are paid last when disposing of collateral assets (Point 1.3 Joint Circular No. 03/2001/TTLT/NHNN-BTP-BCA-BTC-TCĐC).
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❓ 常见问题
How is the collection of taxes when disposing of collateral assets regulated?
Taxes and fees paid into the budget only include those directly generated from the sale of collateral assets, excluding any overdue taxes of the borrower.
What is the priority for paying necessary expenses to dispose of collateral assets?
Necessary expenses must be paid before collecting taxes and fees paid into the budget.
What is the order of payment for principal, interest on loans, and overdue interest when disposing of collateral assets?
Principal, interest on loans, and overdue interest are paid last after all necessary expenses and taxes have been collected.
What is the responsibility of the Tax Department in implementing regulations regarding tax collection?
The Ministry of Finance requests provincial and municipal Tax Departments to uniformly implement regulations concerning the collection of taxes when disposing of collateral assets.
全文
LETTER
OF THE MINISTRY OF FINANCE NUMBER 8953 TC/TCT DATED AUGUST 15, 2002
REGARDING ISSUES ARISING IN TAX COLLECTION FOR THE DISPOSAL OF COLLATERALIZED LOAN ASSETS
COLLATERAL FOR LOAN DEBT
RESPECTED: Provincial Tax Departments and Municipalities Directly Under the Central Government
According to feedback from the State Bank of Vietnam, in recent times during the implementation of Circular Joint Circular No. 03/2001/TTLT/NHNN-BTP-BCA-BTC-TCĐC dated April 23, 2001 issued by the State Bank of Vietnam, Ministry of Justice, Ministry of Public Security, Ministry of Finance, and General Department of Land Administration regarding guidelines for disposing collateralized loan assets to recover debts for credit institutions, issues have arisen concerning the procedures for tax collection and debt recovery when disposing of collateralized loan assets as follows:
According to the provisions in Clause 1, Section VIII, Part B of Circular Joint Circular No. 03/2001/TTLT/NHNN-BTP-BCA-BTC-TCĐC dated April 23, 2001 mentioned above:
"The debt repayment process shall be carried out in the following order:"
1.1. Necessary expenses for disposing of collateralized assets: Costs for preservation, management and valuation, advertising for sale, selling costs, auction commission fees, and other reasonable costs related to the collateral.
1.2. Taxes and fees payable to the budget (if any)
1.3. Principal debt, interest on loans, overdue interest...
In practice, there is inconsistency among ministries and sectors in implementing the provisions at point 1.2 mentioned above. The Ministry of Finance and the State Bank of Vietnam have reported to and sought guidance from the Prime Minister, who has provided instructions in Government Office Document No. 2791/VPCP-KTTH dated May 24, 02. In accordance with the Prime Minister's instructions, the Ministry of Finance provides specific guidelines as follows:
The content "taxes and fees payable to the budget (if any)" mentioned in Circular Joint Circular No. 03/2001/TTLT/NHNN-BTP-BCA-BTC-TCĐC dated April 23, 2001 (mentioned above) is understood as taxes and fees directly arising from the sale of collateralized loan assets (if any), which are the responsibility of the borrower with collateral being disposed of under applicable laws, excluding outstanding tax debts.
The Ministry of Finance requests that provincial and municipal tax departments implement the provisions consistently.
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