Page 13 - VSIP E-Newsletter Q_1_2012

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VSIP Binh Duong:
Tel: 84-650-3743 898
Fax: 84-650-3743 430
VSIP Bac Ninh:
Tel: 84-241-3765 668
Fax 84-241-3765 666
VSIP
The Leading Township & Industrial Park Developer in Vietnam
VSIP Hai Phong:
Tel: 84-31-3959 868
Fax: 84-31-3959 886
VSIP Quang Ngai:
Tel: 84-650-3743 898
Fax: 84-650-3743 430
EPT rate
The tax rates are summarised as follow:
No
Goods
Unit
Tax range (VND)
1 Petrol, oil, grease
Litre/Kg
300-4,000
2 Coal
Tonne
10,000-50,000
3 HCFCs
Kg
1,000-5,000
4 Nylon bags
Kg
30,000-50,000
5 Limited usage chemicals
Kg
500-3,000
Timing of EPT
For goods produced for sale, exchange or used as gifts: At the time when the right to possess or
use goods is transferred.
For goods produced for internal use: At the time of use.
For imported goods: At the time of customs declaration registration.
For petrol, oil produced or imported for sale: At the time of sale.
EPT declaration & payment
There are two type of declaration:
Declaration and payment on a monthly basis: Applicable to goods produced for sale, exchange,
internal consumption, gifts, promotion or advertisement.
Declaration on each occurrence:Applicable to goods imported or consigned for importation.
EPT on imported goods must be declared and paid together with customs duties.
Other notable points
EPT is paid once only. Re-imported goods on which EPT was paid when exported are not
subject to EPT.
EPT included in the price of purchased goods is allowed to be included in COGS.
EPT is included when calculating VATable revenue.
EPT will be refunded in cases of importing goods for re-export and importing goods for use at
fairs and exhibitions.
The previous regulations on the petrol and oil fee are superseded from the effective date of the Law (i.e. 1
January 2012). Petrol and oil traders are not required to declare and pay EPT for petrol and oil on which the
fee was already paid before 1 January 2012.
Source: PwC Legal on 17 February 2012
Legal Updates
P.13