Nội dung toàn văn Official Dispatch No. 1642/TCT-CS on value-added tax (VAT) credit for fixed asse
|
THE MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
|
No. 1642/TCT-CS |
Hanoi, April 25, 2008 |
OFFICIAL LETTER
ON VALUE-ADDED TAX (VAT) CREDIT FOR FIXED ASSETS
To: The Bank for Foreign Trade of Vietnam
In response to Official Letter No. 98/NHNT.KTTC of January 17, 2008, of the Bank for Foreign Trade of Vietnam, the General Department of Taxation gives the following opinions:
Pursuant to the guidance in Clause c, Point 1.2, Section III, Part B of the Finance Ministry’s Circular No. 32/2007/TT-BTC of April 9, 2007, on VAT:
For fixed assets commonly used for the production of and trading in goods and services liable VAT as well as goods and services not liable to VAT, the input VAT amounts are wholly creditable.
Particularly for fixed assets used as office buildings and equipment exclusively used for credit institutions and other VAT-exclusive operations of credit institutions, the corresponding VAT stated on invoices or documents on the purchase of goods and services for the formation of these fixed assets is not credited but must be included in the historical costs of these fixed assets.
The General Department of Taxation would like to give the above answer to the Bank for information and provision of guidance on uniform implementation to its units.
|
|
FOR THE GENERAL DIRECTOR OF
TAXATION |
