Uni 07-01-2014 - Guidance on VAT declaration in 2014

According to official letter No.18128/BTC-TCT:

• For enterprises from July 2013 declaring quarterly VAT declaration, the threshold of year revenue used for determining  VAT declaration method is “ Total revenue of VAT-liable sale goods, services” in the declaration form of months of October, November, December of 2012, 6 beginning months of 2013 and in the VAT declaration form of the 3^rd of 2013.

(Year revenue more than 1 billion VND: applied to VAT deduction method; less than 1 billion VND: applied to direct VAT method except volunteering applying to VAT deduction method)

• From 01 January 2014, enterprises apply to direct VAT method will not allowed to use VAT invoices, if they do not keep up with ordering to print sale invoices, they can buy sale invoices from tax department from January, February of 2014.
• The VAT declaration method is stably applied for 2 years (2014, 2015) including investigation, examination from tax authority to determine the threshold of revenue of 2013 less than 1 billion VND.