Circular No. 94/2005/TT-BTC amends the VAT rate for electricity products to be uniformly 10%, effective from January 1, 2006. This Circular supplements Circular No. 05/2000/TT-BTC of the Ministry of Finance.
Đối tượng áp dụng
Vietnam Electricity Corporation and units under Vietnam Electricity Corporation.
Các điểm cốt lõi
- Vietnam Electricity Corporation → the VAT rate applicable to electricity products is 10% (Clause 3, Article 7, Decree No. 158/2003/NĐ-CP).
🌐 Tác động xã hội từ văn bản này
- Positive impact: The VAT rate decreases from 15% to 10%, helping to reduce costs for Vietnam Electricity Corporation and its affiliated units.
- Negative impact: Internal electricity trading enterprises within Vietnam Electricity Corporation must comply with new regulations, which may encounter difficulties during the adjustment process.
- Positive impact: Establishes a clear legal basis for calculating VAT on electricity products.
❓ Câu hỏi thường gặp
What is the VAT rate for electricity products?
The VAT rate for electricity products is uniformly 10% (Clause 3, Article 7, Decree No. 158/2003/NĐ-CP).
When does this Circular take effect?
This Circular takes effect from January 1, 2006 (Article 1, Circular No. 94/2005/TT-BTC).
Are the old provisions in Circular No. 05/2000/TT-BTC still valid?
Provisions in Circular No. 05/2000/TT-BTC dated January 12, 2000 of the Ministry of Finance that have not been amended or supplemented by this Circular remain in effect (Article 1, Circular No. 94/2005/TT-BTC).
What is the VAT rate applied to internal electricity transactions between units under Vietnam Electricity Corporation?
The VAT rate for electricity products is uniformly 10% (Clause 3, Article 7, Decree No. 158/2003/NĐ-CP), including internal electricity transactions between units under Vietnam Electricity Corporation.
Who will resolve any issues encountered during implementation?
Organizations and individuals encountering difficulties are requested to promptly report to the Ministry of Finance for study and resolution (Article 1, Circular No. 94/2005/TT-BTC).
Toàn văn
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MINISTRY OF FINANCE ____________ |
SOCIALIST REPUBLIC OF VIETNAM __________________ |
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Number: 94/2005/TT-BTC |
Hanoi, October 26, 2005 |
CIRCULAR
Amending and supplementing Circular No. 05/2000/TT-BTC dated January 12, 2000 of the Ministry of Finance
guiding the calculation of value-added tax and declaration, payment of value-added tax for the electricity industry
Pursuant to the Law on Value-Added Tax (VAT) No. 02/1997/QH9 dated May 10, 1997; Law amending and supplementing certain articles of the Law on VAT No. 07/2003/QH11 dated June 17, 2003;
Pursuant to Decree No. 158/2003/NĐ-CP dated December 12, 2003 of the Government detailing the implementation of the Law on VAT and the Law amending and supplementing certain articles of the Law on VAT;
Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to Decision No. 12/2005/QĐ-TTg dated January 13, 2005 of the Prime Minister approving the supplementary restructuring plan for state-owned enterprises under the Vietnam Electricity Corporation and the strategy for the development of the electricity industry until 2010;
To be consistent with the new organizational and business characteristics of the Vietnam Electricity Corporation and in accordance with the current Law on VAT, the Ministry of Finance guides the amendment of the content of Point 1, Section I of Circular No. 05/2000/TT-BTC dated January 12, 2000 regarding the determination of the VAT rate applicable to electricity products as follows:
1. The VAT rate applicable to electricity products shall be uniformly 10% as stipulated in Clause 3, Article 7 of Decree No. 158/2003/NĐ-CP dated December 12, 2003 of the Government (including internal electricity transactions between units under the Vietnam Electricity Corporation).
This Circular takes effect from January 1, 2006. Provisions in Circular No. 05/2000/TT-BTC dated January 12, 2000 of the Ministry of Finance that are not amended or supplemented in this Circular remain in force. In the course of implementation, if there are any difficulties, organizations and individuals are requested to promptly report them to the Ministry of Finance for study and resolution./.
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DEPUTY MINISTER |
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