Businesses have difficulty making separate invoices for VAT reduction: What does the Ministry of Finance say?
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Recently, public opinion has reflected that VAT reduction from 10% to 8% to help businesses recover after the COVID-19 pandemic is very welcome. However, for the same order, businesses must divide into 2 – 3 invoices for each type of tax-reduced goods. This provision causes businesses to incur costs.
Regarding the above issue, in the newly released text, The financial According to the provisions of Clause 4, Article 1 of Decree 15/2022 of the Government stipulating the policy of tax exemption and reduction under Resolution No. 43/2022 of the National Assembly on fiscal and monetary policies to support the Rehabilitation Program. For socio-economic recovery and development, business establishments must issue separate invoices for goods and services eligible for value-added tax reduction.
“Where business establishments do not issue separate invoices for goods and services eligible for value-added tax reduction, they are not entitled to value-added tax reduction,” emphasized the Ministry of Finance.
According to the Ministry of Finance, in fact, the invoice form of enterprises and tax rate targets are designed in the form of columns, so business establishments can issue invoices for goods and services with different tax rates on the same basis. invoices, including goods and services eligible for tax reduction.
Making separate invoices is convenient in classifying and managing invoices for tax-reduced goods and services, however, it increases the time of business accounting and the cost of using invoices, especially Businesses use multiple invoices per day.
The Ministry of Finance said that if businesses find it difficult to separate invoices for tax-reduced goods and services, so they don’t issue separate invoices for tax-reduced goods and services, consumers are not allowed to pay taxes. benefit from the policy, directly affecting the interests of consumers.
Currently, the Ministry of Finance is proposing to amend Clause 4, Article 1 of Decree 15/2022 to be included in the Decree amending and supplementing a number of articles of Decree No. 126/2020, Decree No. 123/2020 and Decree No. No. 15/2022 according to abbreviated procedures (the dossier is seeking appraisal opinions of the Ministry of Justice according to Official Letter No. 3686/BTC-TCT dated April 22, 2022) in the direction: “In case a business establishment sells If the goods or services are provided with different tax rates, the invoice must clearly state the tax rate or the reduced VAT calculation percentage of each good or service as prescribed in Clause 3 of this Article.
According to Decree 15/2022 stipulating the tax exemption and reduction policy according to the National Assembly’s Resolution 43/2022 on fiscal and monetary policies to support under the program of socio-economic recovery and development, from January 1, 2020. From February 2 to the end of 2022, the value-added tax on groups of goods and services currently applying the 10% tax rate will be reduced to 8% to support people facing difficulties due to the COVID-19 epidemic, thereby promoting promote the recovery and development of production and business activities.
Some groups of goods and services are not eligible for the discount tax The above include: telecommunications, information technology, financial activities, banking, securities, insurance, real estate business, metals, prefabricated metal products, mining products (excluding mining) coal mining), coke, refined petroleum, chemical products, goods and services subject to excise tax.
In addition, the VAT reduction policy does not discriminate between goods and service providers who are businesses, organizations, business households, and individuals. Therefore, the application of tax reduction will not distinguish the method of calculating withholding tax or calculating a percentage on revenue.
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