Reducing value-added tax according to Decree No. 92/2021/ND-CP
- 10/11/2021 16:45
✨ On November 19, 2021, Decree 92/2021/ND-CP detailed the number of articles of Resolution No. 406/NQ-UBTVQH15 of the National Assembly Standing Committee promulgating a number of solutions to support businesses and people affected by Covid-19.
⚡ From November 1, 2021, to the end of December 31, 2021, many goods and services will be reduced VAT following Resolution 406/NQ-UBTVQH15.
- Transport services (rail transport, water transport, air transport, other road transport); Lodging; Food Service; Services of travel agencies, Tour operators, and support services, related to the promotion and organization of tours;
- Publishing products and services; film services, television program production, sound recording and music publishing; artwork and creative, artistic, entertainment services; Services of libraries, archives, museums, and other cultural activities; sports, and entertainment services.
- Goods and services eligible for tax reduction specified at Points a and b of this Clause shall comply with Appendix 1 of the List of goods and services eligible for value-added tax reduction promulgated together with this Decree. The goods and services specified at Point b of this Clause do not include publishing software and goods and services produced and sold in the online form.
- In case the goods and services specified in this Clause are not subject to value-added tax under the Law on Value Added Tax, the provisions of the Law on Value Added Tax shall apply.
⚡ VAT reduction rate:
⭕Enterprises and organizations that calculate value-added tax by the deduction method are subjected to a reduction of 30% of the value-added tax rate for goods and services specified in Clause 1 of this Article.
⭕Enterprises and organizations that calculate value-added tax according to the percentage method on revenue are subjected to a 30% reduction of the percentage rate to calculate value-added tax on goods and services as prescribed above.
🔗 It can be said that our State has timely had policies to support employees and employers (enterprises, business organizations, business households, ...) in tax, financial support, and materials,... Businesses need to understand these regulations to be able to reduce some of the difficulties caused by the impact of the epidemic on business operations and fully enjoy their benefits.
🔗 Wish our customers success and overcome the pandemic!
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