Khoản 1 Điều 3 Thông Tư 09/2015/tt-btc

3 min read Jun 26, 2024
Khoản 1 Điều 3 Thông Tư 09/2015/tt-btc

Understanding Article 3, Clause 1 of Circular 09/2015/TT-BTC

Introduction

Circular 09/2015/TT-BTC is a Vietnamese regulation issued by the Ministry of Finance on June 29, 2015. This circular provides guidelines for implementing the Law on Value-Added Tax (VAT) and the Law on Excise Tax. One of the crucial provisions in this circular is Article 3, Clause 1, which outlines the regulations for VAT calculation and declaration.

Article 3, Clause 1: VAT Calculation and Declaration

General Provisions

Clause 1, Article 3 of Circular 09/2015/TT-BTC stipulates that taxpayers must calculate and declare VAT on their taxable revenues. This clause applies to all taxpayers who are liable for VAT, including businesses, organizations, and individuals.

VAT Calculation

According to Clause 1, Article 3, the VAT calculation shall be based on the output VAT and input VAT. Output VAT refers to the VAT amount payable on taxable revenues, while input VAT refers to the VAT amount credited on purchased goods and services.

The VAT calculation formula is as follows:

Output VAT = Taxable revenue x VAT rate Input VAT = VAT amount credited on purchased goods and services VAT payable = Output VAT - Input VAT

VAT Declaration

Taxpayers are required to declare their VAT payable on a monthly or quarterly basis, depending on their business activities and taxable revenues. The VAT declaration shall include the following information:

  • Taxable revenue: The total revenue generated from taxable activities.
  • Output VAT: The VAT amount payable on taxable revenues.
  • Input VAT: The VAT amount credited on purchased goods and services.
  • VAT payable: The net VAT amount payable to the tax authorities.

Conclusion

In conclusion, Article 3, Clause 1 of Circular 09/2015/TT-BTC is a critical provision that outlines the regulations for VAT calculation and declaration in Vietnam. Taxpayers must accurately calculate and declare their VAT payable to comply with the tax authorities' requirements. Failure to comply may result in penalties and fines. Therefore, it is essential for taxpayers to understand and follow the guidelines set out in this clause.