DECREE 146/2017/NĐ-CP DATED 15 DECEMBER 2017 OF GOVERNMENT REVISING, ADDING SOME ARTICLES OF DECREE 100/2016/NĐ-CP AND DECREE 12/2015/NĐ-CP
On 15 Dec 2017, Government issued Decree 146/2017/NĐ-CP revising, adding some articles of Decree 100/2016/NĐ-CP and Decree 12/2015/NĐ-CP. Some contents revised, added as follows:
1. Revise rules of non-liable VAT for export products are natural resources and minerals unprocessed into other products.
According to the new regulations, exported products processed from natural resources and minerals are subject to the tax rate of 0% in the following cases:
- Exported products are processed from natural resources and minerals, which in the process time, have been turned into other products and then continued to process into export products (including cases where the business establishment directly exploits and processed or purchased for processing or leased other establishments process into export products)
- Export products processed from raw materials other than natural resources, minerals (minerals and minerals other processed products)
2. Additional of VAT refund upon export:
Business establishments in the month / quarter imported goods, then exported into the non-tariff area; Imported goods are then exported to foreign countries with the input VAT amount not yet deducted from 300 million dong or more refunded VAT monthly or quarterly.
3. Non tax expenses when determining CIT taxable income:
Expenses in excess of VND 3 million / month / person (formerly VND 1 million / month / person) for voluntary retirement, voluntary retirement insurance, life insurance this life insurance amount) for employees.
The Decree takes effect on 01 Feb 2018
