Input VAT during period of construction

With respect to fixed assets are purchased and separately used for producing and trading goods and services subject to VAT, the input VAT of the fixed assets shall be calculated into the origin price of the fixed assets.

In case where goods and services are used for producing and trading goods and services being subject and not subject to VAT, but the business establishment does not calculate separately input VAT to be credited, the input VAT shall be credited or refunded in accordance with a percentage of turnover of goods and services subject to VAT against the total turnover of sold goods and services. (According to Official Letter 3183 TCT/NV5 dated September 1, 2003 of GDT).

[Sao Viet Legal Consultants]

 

Category: Legal