OFFICIAL LETTER NO. 2856/TCT-DNL DATED 28 JULY 2014 OF GDT IN GUIDANCE OF FOREIGN CONTRACTORS FOR DETERMINATION OF CIT, VAT ASSESSABLE REVENUE MINUS SUBCONTRACTED VALUE
According to official letter No. 2856/TCT-DNL:
In case, contractors pay tax under the hybrid method from Net income excluding CIT, VAT; contractors sign subcontractors to deliver a part of work value:
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CIT assessable revenue of foreign contractors must converted the revenue including CIT, excluding VAT and the value of subcontractors will be excluded when determining CIT assessable revenue of foreign contractors.
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VAT assessable revenue is the construction, construction item or a part of completed work excluding VAT.
(Please, referred to examples in the official letter No. 2856/TCT-DNL dated 28 July 2014 of GDT)
