1. Official documents:
- VAT reduction under Decree No. 15/2022/ND-CP issued by the Government on 28 January 2022
- Public Letter No. 02/CD-TCT issued by the GDT on 09 February 2022 stimulating the launch of VAT reduction in accordance with Resolution No. 43/2022/QH15 and Decree No. 15/2022/ND-CP
2. What concerns (or) challenges do enterprises cope with?
- Would invoicing issuance timing point affect the VAT reduction mechanism under Decree 15/2022?
- If the contract has been signed before Feb 2022 and indicating 10% VAT, but the work is performed after 01 February 2022, hence entitled to the VAT reduction, what formalities are required to effect such change in VAT?
- For products quoted as VAT-inclusive price, upon 2% VAT reduction, would keeping the price unchanged be considered incompliant with regulations?
- What is the invoicing procedure for eligible VAT reduction items?
- What is the correct approach to determine the eligible product/ service via HS code?
- What is the applicable sanction policy for incompliant activities with the new Decree 15/2022?
Disclaimer:
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.
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