Official Letter No. 4566/TCT-KK dated October 14, 2024, from the General Department of Taxation providing guidance on VAT declaration and refund for investment projects in different provinces and cities
In the case where a company, headquartered in Binh Duong province, undertakes a new investment project in Binh Dinh province, and as of February 2021, the project has become operational. The company does not submit a VAT refund application for the investment project but instead transfers the deductible input VAT of the investment project to the 01/GTGT declaration form of production and business activities. If the input VAT on exported goods (including the input VAT of investment, construction, and fixed assets formation activities that meet the legal requirements for investment and serve the production and business of exported goods), after offsetting against the VAT payable for domestically consumed goods and services, amounts to VND 300 million or more, the company is eligible for a VAT refund. The VAT refund shall not exceed the revenue from the exported goods and services multiplied by (x) 10%.
Please refer to the attached file for detailed information.
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