On 28 October 2016, Ministry of Finance issued Circular No. 173/2016/TT-BTC. Accordingly, conditions to be deducted input VAT was revised: Bank payment voucher is seen as evidence for transfering from buyer’s bank account to seller’s bank account which is opened at payment service organisations by legally fit forms. The forms can be cheque, payment order, collection, bank card, credit card, sim card and other ones under the relevant regulations. Noticeably, the form can include the buyer’s payment to the seller’s account under the name of owner’s private enterprise, or buyer’s payment from the account named owner’s private enterprise to the seller’s account. In addition, the account of the seller and buyer required to register with tax authority before is abolished in this circular.
This circular will be effective from 15 December 2016.
