Conditions of VAT refund with goods for export

Thu, 02 Mar 2017 16:16:57 PM GMT + 7    Print   Email   Share:

 (Chinhphu.vn) - An Giang Province Tax Department guided Cuu long  Import -  Export Fisheries  JSC Company in An Giang Province on conditions of value added tax refund toward goods for export .

According to the provisions of Item 1, Item 2 and Item 3, Article 16 of Circular No. 219/2013 / TT-BTC of the Ministry of Finance dated 31/12/2013 that guidelines on value added tax (VAT), goods, export services (except in cases of guidance in Article 17 of this Circular),  in order to be deductible tax and input VAT refund, they  must be qualified and have the procedures set forth in Clause 2, Article 9 and Clause 1, Article 15 of this Circular, particularly as follows:

- Contracts for sale of goods, goods processing (with cases of goods processing), provision of services to organizations and individuals abroad ...

- The customs declaration of goods for export which have completed customs procedures under the guidance of the Ministry of Finance on customs procedures ...

- Goods and services for export have to implement payment through the bank.

Payment via bank account is transferring money from the account of the import side to the named account of export side opened in the bank according to  forms of payment in line with contractual agreements and regulations of the bank. Payment vouchers as the bank notes of the export side on the amount received from the bank account of the import side.

In case of late payment, 2 sides must have an agreement upon in the export contracts, Due for payment, business establishments must have proof payment through banks.

In case of export trustee, it must have proof of payment through a foreign bank to the beneficiary of the trustee side and the trustee side has to pay goods for export through their bank.

.In case the foreign side implements direct payments to the trustee side, the trustee side must have proof of payment via banks after that and the payments must be stipulated in the contract.

Pursuant to deductible tax when payment via bank

Item 11 of Article 1 of Circular No. 26/2015 / TT-BTC dated 02/27/2015 of the Ministry of Finance guidelines on VAT provisions:

In case the foreign party (except where the foreign party is an individual) carries out payment from their current deposit account which opens in a credit institution in Vietnam, the payment must be stipulated in the export contract (the annexes or contract modification documents - if applicable).

Proof of payment are bank notes of the export side on the amount received from the current account of the foreign buyers that have signed contracts.

For exports to the foreign buyers who are private company and the payment through the current account of private business owners opened at the credit institution in Vietnam and are specified in export contracts ( annexes or written amending contract - if any) shall be determined to be payment through the bank.

Pursuant to the above provisions, in case company exports goods to a Chinese client, the company is paid by the client for the goods in the form of a bank transfer from China bank to the accounts of foreign client opened in Vietnam's bank to transfer payments to the company and in accordance with the contract signed between the company and foreign client, this form of payment is defined as payments through banks.

In case foreign customers deposit cash into their accounts opened at foreign banks in Vietnam to transfer payments to the company, these payments do not qualify as proof of payment via banks to deduct and VAT refund.

  • By : Thanh Thủy /Online Newspaper of the Government / Translator: HaiYen-Bizic


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