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These designated VAT collectors are required to report and remit the VAT collected on a quarterly basis. The VAT applies to digital goods such as software, multimedia, and electronic data, as well as digital services like web hosting, video conferencing, and other services paid for using Indonesian payment facilities, IP addresses, or phone ...
The default VAT rate is the standard rate, 20% since 4 January 2011. Some goods and services are subject to VAT at a reduced rate of 5% (such as domestic fuel) or 0% (such as most food and children's clothing). [3] Others are exempt from VAT or outside the system altogether.
All organizations and individuals producing and trading VAT taxable goods and services pay VAT, regardless of whether they have Vietnam-resident establishments. Vietnam has three VAT rates: 0 percent, 5 percent and 10 percent. 10 percent is the standard rate. A variety of goods and service transactions qualify for VAT exemption. [105]
The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Personal income tax includes all applicable taxes, including all unvested social security contributions.
This type of exemption applies to goods purchased tax-free for resale, but lapses if the goods are converted to use by the company itself (for example, a company car, office supplies, and cleaning supplies). Some countries charge a value added tax (VAT) or goods and services tax (GST) that extends to retail purchases. When those customers are ...
The resale exemption is the most common use based exemption. Other use based exemptions could be items or services to be used in manufacturing, research & development, or teleproduction. Entity based exemptions are when the item or service is exempt solely because the purchaser falls into a category the state has granted an exempt status.
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Value added tax (VAT), in which tax is charged on all sales, thus avoiding the need for a system of resale certificates. Tax cascading is avoided by applying the tax only to the difference ("value added") between the price paid by the first purchaser and the price paid by each subsequent purchaser of the same item.