On March 25, 2015, the Ministry of Finance issued Circular 38/2015/TT-BTC regulating customs procedures; customs inspection and supervision; import - export tax and tax management for export - import goods. In particular, regulations on tax calculation time and tax exchange rates for imported and exported goods.
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Specifically, Circular 38/2015/TT-BTC stipulates the tax calculation time and tax exchange rates for exported and imported goods as follows:
(1) The time to calculate export tax, import tax, self-defense tax, anti-dumping tax, anti-subsidy tax (within the validity period of the application decision of the Minister of Industry and Trade) is the registration date. customs declaration. Export tax and import tax are calculated according to tax rate, tax value and tax exchange rate at the time of tax calculation.
In case the taxpayer declares and calculates tax on a paper customs declaration before the date of registration of the customs declaration but the exchange rate is different from the exchange rate applied at the time of registration of the customs declaration, the customs authority shall carry out this procedure. Recalculate the tax payable according to the exchange rate applied at the time of declaration registration.
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(2) Tax calculation exchange rates comply with the provisions of Decree 08/2015/ND-CP.
- The General Department of Customs coordinates with the Joint Stock Commercial Bank for Foreign Trade of Vietnam to update the purchased foreign currency exchange rate by transfer from the Head Office at the end of the day on Thursday or the exchange rate at the end of the day of the working day immediately preceding Thursday in case Thursday is a holiday or day off; Announce this exchange rate on the Electronic Information Portal of the General Department of Customs and update it in the Electronic Customs Data System to apply to determine the tax exchange rate for customs declarations registered in the following week;
- For foreign currencies not announced by the Head Office of Joint Stock Commercial Bank for Foreign Trade of Vietnam, the General Department of Customs updates the exchange rates announced by the State Bank of Vietnam with the latest news on the website of the State Bank of Vietnam to publish on the Electronic Information Portal of the General Department of Customs and update the Electronic Customs Data System to apply to determine exchange rates to calculate taxes on exported and imported goods.
Thus, the tax calculation time and tax exchange rate for imported and exported goods are prescribed above according to Circular 38/2015/TT-BTC.
Circular 38/2015/TT-BTC takes effect from April 1, 2015.
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