Taxation: Businesses having capital over VND 15 billion to be self-printed VAT invoices

On March 31, 2014 the Ministry of Finance issued Circular 39/2014/TT-BTC guiding VAT invoices for sale of goods and supply of services.

Businesses, banks have chartered capital of VND 15 billion or more, which calculated on the factual contribution to be self-printed VAT invoices. This capital includes other branches, subsidiaries directly under the head office that declare and pay value added tax.

Businesses and organizations using self-printed VAT invoices prior to the effective date of the Circular and not subjects must purchase VAT invoices from the Taxation Office are still entitled to create/self-print VAT invoices.

Circular No. 64/2013/TT-BTC dated May 15, 2013 and the previous guidance in contrary to this Circular are abolished. The other guidance not inconsistent with the Circular are still effective.

This Circular takes effective from June 1, 2014.                      

For more information about the Circular, please feel free to contact us via hanoi@pham.com.vn

Pham & Associates