Title: Circular 26/2015/TT-BTC dated February 27, 2015, guidelines for value-added tax and tax administration in Decree No. 12/2015/ND-CP on guidelines for the Law on amendments to Laws, Decrees on taxations, and amendments to Circular No. 39/2014/TT-BTC on

Type: Circular

Issuing Agency: Ministry of Finance

Responsible Agency: Ministry of Finance

Issuing Date: 27-02-2015

Amendments to some Article of Circular No. 219/2013/TT-BTC dated December 31, 2013 of the Ministry of Finance on guidelines for the Law on Value-added tax and the Government's Decree No. 209/2013/NĐ-CP dated December 18, 2013 on guidelines for the Law on Value-added tax (amended by Circular No. 119/2014/TT-BTC dated August 25, 2014 and Circular No. 151/2014/TT-BTC dated October 10, 2014 of the Ministry of Finance) as follows:

1. Clause 1 Article 4 is amended as follows:

"1. Products from farming (including agro-forestry products), breeding, and aquaculture that are produced, caught, sold, or imported and are not processed into other products (hereinafter referred to as unprocessed) or have only been preprocessed.

Preprocessed products are those that have only been cleaned, dried, husked, grinded, milled, threshed, split, cut, salted, put in cold storage (cooled or frozen), preserved with sulfur dioxide, sulfur solution, or other solutions, and other common means of preservation.

Example 2: Company A signs a contract to raise pigs with company B, under which company B provides studs, feeds, veterinary medicines for company A and company A provides, sells pig products to company B. The payment for pig breeding paid by company B and the pig products sold by company A to company B are not subject to VAT.

With regard to pig products received by company B from company A: Whole pigs or fresh meat sold by company B are not subject to VAT; If company B further process pigs into products such as sausage, bacon, grilled chopped meat, or other finished products, they shall be subject to VAT as prescribed."

For further details, please visit  http://asemconnectvietnam.gov.vn/law.aspx?ZID1=10&ID1=2&MaVB_Id=2300&CapBanHanhID=112&TukhoaCoSanID=13&pagenum=7

 

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