VAT refund

1.WHAT IS TAX REFUND? HOW TO GET A TAX REFUND

Currently, Pham and Associates provide tax refund services for businesses. However, many of you are not clear about the tax refund and how to get a refund. Today I will share more to you guys.

What is a tax refund?

First of all, the state will return a part of the tax in certain cases to you. More precisely, VAT refund is the return of the State Budget to business establishments or organizations or individuals that purchase goods and services they have paid the input tax for when purchasing goods and services that businesses have not deducted in the tax period or that in case of consumption of such organizations or individuals are not taxable.

5 Conditions for a common VAT refund

Here are the 5 most common conditions for a refund:

• Enterprises that have a negative VAT amount for 3 consecutive months or more and have a tax deductible amount of VND 200,000,000 or more. (Usually arise in the export unit)
• Enterprises with input documents must be legal documents
• Enterprises must make full payment via bank upon each import and export order.
• Enterprises pay via bank for invoices with total payment of over 20 million.
• Businesses must demonstrate clear bank payment for each export order.

4 Basic cases are VAT refunded

According to regulations 4 cases below will be refunded VAT:

• Business enterprises paying VAT by the tax credit method are entitled to VAT refund if the input VAT amount has not been fully deducted for three consecutive months or more.
• If a business enterprise exports goods and services in a month, if the input VAT amount not yet deducted from two hundred million dong or more, it will be refunded VAT by month.
• Business enterprises paying VAT by the tax credit method are entitled to VAT reimbursement when ownership conversion, business transformation, merger, consolidation, division, splitting, dissolution, bankruptcy or termination of operation if it overpaid VAT amount or its input VAT amount has not been fully deducted.

• The business enterprise has a decision to refund VAT of the competent authority in accordance with the law and case of refunding VAT in accordance with international treaties to which the Socialist Republic of Vietnam is a member.

How long does it take to complete VAT refund?

Currently, the procedures and workflow are much simpler. In addition to the service at Pham and Associates, we will give you two options:

Type 1: Refund  first – check later

With this option, it will take 5 working days from the date of receipt of the complete application. This applies to well-executed businesses

Type 2: Check first – refund later

In this case, we need 60 working days from the date of receipt of the complete application. This applies to the first refund or tax refund enterprise on the 2nd time but the first refund records found many defects.

See more:

• Tax accounting services
• Financial reporting service
• Tax reporting service

With the service at Pham and Associates, you can be assured with a dedicated and prestigious profession. So come to us to get a tax refund quickly.

Pham and Associates Tax – Accounting – Auditing Co.,Ltd

No.12, Lane 49 Huynh Thuc Khang Street, Lang Ha Ward, Dong Da District, Ha Noi, Vietnam.

Phone: 0902483186

Email: phamhoa@ketoanthuehanoi.vn