On June 10, 2016, Tax Department of Ho Chi Minh city issued Official Letter No. 5364/CT-TTHT. Accordingly,
- If an enterprise is a wholly foreign-owned enterprise, process garments to export, declare VAT follow deduction method. The enterprise only uses trading invoice. When the enterprise dissolves and liquidates its assets, it should use VAT invoice. VAT rate should correspondingly apply to items sell (for example factories, machine is subject to 10% VAT…)
- Assets are liquidated for enterprises in non-tariff areas (export processing enterprises) are subject to 0% VAT if meeting conditions specified in Clause 2 Article 9 Circular 219/2013/TT-BTC (contract, invoice, custom declaration, bank receipt for the payment should be provided)
