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blue-check Regarding VAT upon transfer of commercial center project

Official letter No. 788/TCT-CS dated February 24th, 2020 of the General Department of Taxation regarding value added tax (VAT) policy
Posted: 2/3/2020 7:51:33 AM | Latest updated: 4/3/2020 2:51:45 PM (GMT+7) | LuatVietnam: 4910 | Vietlaw: 447
VietlawOnline

According to the General Department of Taxation’s opinions, in case a Company transfers a project on commercial center to another company, if the transfer of the project is performed in accordance with regulations of laws and the project belongs to the sector of production of, trading in VATabe goods, services, it shall be exempt from VAT declaration and payment according to Clause 4 Article 5 of Circular No. 219/2013/TT-BTCstatus2 .

However, if it is determined the activity of transfer of assets rather than transfer of investment project, it is required to declare and pay VAT.

Ms. Phuong Thao (VietlawOnline.com)
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PublishedVietlaw's Newsletter No. 447
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