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Update the latest circulars on value added tax in 2017
Posted date 12/10/2017
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Posted date 12/10/2017
4.463 view
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In recent years, along with international economic integration, many tax policies have been reformed and innovated strongly, recognized by the business community and many international organizations. These innovations continue to be maintained and implemented in 2017 to continuously improve the business environment and facilitate businesses.
Tran Thuy – Lecturer of Accounting Department
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In recent years, along with international economic integration, many tax policies have been reformed and innovated strongly, recognized by the business community and many international organizations. These innovations continue to be maintained and implemented in 2017 to continuously improve the business environment and facilitate businesses. Specifically, the VAT policies have been innovated as follows:
Decision on tax refund
In Clause 1, Article 1 of Circular 31/2017/TT-BTC, Article 18 of Circular 99/2016/TT-BTC on VAT refund management is added: " The Tax Department shall update and fully account for Tax Refund/Tax Refund and Offset Decisions on the State Budget into the Tax Management Application System on the same working day as the Tax Refund Decision. After accounting for the Tax Refund Decision and the Tax Refund and Offset Decision, the Tax Department shall transfer them to the State Treasury on the same working day or at the latest on the next working day". Previously, Article 18 of Circular 99/2016/TT-BTC did not stipulate this.
Time of tax refund
In Clause 2, Article 1 of Circular 31/2017/TT-BTC amending and supplementing Point c, Clause 2, Article 19 of Circular 99/2016/TT-BTC on VAT refund management, "shortens the tax refund time for taxpayers within 01 working day from the date of receipt of the State budget revenue refund order/State budget revenue refund and offset order transferred by the tax authority". Previously, the tax refund time for taxpayers was within 03 working days from the date of receipt of the State budget revenue refund order/State budget revenue refund and offset order transferred by the tax authority.
Public information on tax refund settlement
In Clause 3, Article 1 of Circular 31/2017/TT-BTC amending and supplementing Clause 2, Article 20 of Circular 99/2016/TT-BTC on VAT refund management, "Tax authorities must publicly disclose on the electronic information of the General Department of Taxation the time when the State Treasury pays tax refunds to taxpayers". Thus, in addition to the fact that the Tax Authority must publicly disclose on the electronic information portal of the General Department of Taxation the time when the tax refund dossier is received; the time when the taxpayer's explanation and additional information and documents are received; the time when the tax authority issues a notice or decision to resolve the VAT refund. It must also publicly disclose the time when the State Treasury pays tax refunds to taxpayers.
VAT calculation method
Circular 93/2017/TT-BTC effective from November 5, 2017 has the following changes:
Firstly, remove the instruction to submit Form 06/GTGT to register for VAT application under the deduction method for newly established businesses and operating businesses with VAT taxable revenue of less than one billion VND.
Second, remove the instruction to submit Form 06/GTGT when converting VAT calculation method.
Third, supplement the guidance on the method of calculating VAT of business establishments determined according to the VAT declaration dossier guided in Article 11 of Circular 156/2013/TT-BTC.
Thus, determining the method of calculating VAT will be based on the tax declaration submitted by the business to the tax authority, in specific cases as follows:
+ In case of registering to apply VAT according to the deduction method, send VAT declaration form 01/GTGT, form 02/GTGT to the tax authority.
+ In case of registering to apply VAT by direct method, send VAT declaration form 03/GTGT, form 04/GTGT to tax authority.
Above are the VAT policy changes in 2017, and these reform efforts are positively impacting the business community, and creating a favorable business environment for businesses.
Good luck!
Decision on tax refund
In Clause 1, Article 1 of Circular 31/2017/TT-BTC, Article 18 of Circular 99/2016/TT-BTC on VAT refund management is added: " The Tax Department shall update and fully account for Tax Refund/Tax Refund and Offset Decisions on the State Budget into the Tax Management Application System on the same working day as the Tax Refund Decision. After accounting for the Tax Refund Decision and the Tax Refund and Offset Decision, the Tax Department shall transfer them to the State Treasury on the same working day or at the latest on the next working day". Previously, Article 18 of Circular 99/2016/TT-BTC did not stipulate this.
Time of tax refund
In Clause 2, Article 1 of Circular 31/2017/TT-BTC amending and supplementing Point c, Clause 2, Article 19 of Circular 99/2016/TT-BTC on VAT refund management, "shortens the tax refund time for taxpayers within 01 working day from the date of receipt of the State budget revenue refund order/State budget revenue refund and offset order transferred by the tax authority". Previously, the tax refund time for taxpayers was within 03 working days from the date of receipt of the State budget revenue refund order/State budget revenue refund and offset order transferred by the tax authority.
Public information on tax refund settlement
In Clause 3, Article 1 of Circular 31/2017/TT-BTC amending and supplementing Clause 2, Article 20 of Circular 99/2016/TT-BTC on VAT refund management, "Tax authorities must publicly disclose on the electronic information of the General Department of Taxation the time when the State Treasury pays tax refunds to taxpayers". Thus, in addition to the fact that the Tax Authority must publicly disclose on the electronic information portal of the General Department of Taxation the time when the tax refund dossier is received; the time when the taxpayer's explanation and additional information and documents are received; the time when the tax authority issues a notice or decision to resolve the VAT refund. It must also publicly disclose the time when the State Treasury pays tax refunds to taxpayers.
VAT calculation method
Circular 93/2017/TT-BTC effective from November 5, 2017 has the following changes:
Firstly, remove the instruction to submit Form 06/GTGT to register for VAT application under the deduction method for newly established businesses and operating businesses with VAT taxable revenue of less than one billion VND.
Second, remove the instruction to submit Form 06/GTGT when converting VAT calculation method.
Third, supplement the guidance on the method of calculating VAT of business establishments determined according to the VAT declaration dossier guided in Article 11 of Circular 156/2013/TT-BTC.
Thus, determining the method of calculating VAT will be based on the tax declaration submitted by the business to the tax authority, in specific cases as follows:
+ In case of registering to apply VAT according to the deduction method, send VAT declaration form 01/GTGT, form 02/GTGT to the tax authority.
+ In case of registering to apply VAT by direct method, send VAT declaration form 03/GTGT, form 04/GTGT to tax authority.
Above are the VAT policy changes in 2017, and these reform efforts are positively impacting the business community, and creating a favorable business environment for businesses.
Good luck!
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