VNBA recommends 5 solutions to remove VAT problems for letter of credit services

Therefore, VNBA proposes 5 groups of issues to the Ministry of Finance and the General Department of Taxation for consideration in order to remove difficulties in paying value added tax for letter of credit (L/C) activities of businesses. credit institutions.

VNBA analyzes that, in essence, value-added tax is an indirect tax, the tax bearer is the customer. In case of additional payment of value-added tax on the letter of credit that has arisen, the bank must contact and collect it from the customer.

However, collection from the customer is not possible because the customer does not agree to arrears, no longer transacts with the bank, or the customer has dissolved/bankrupt/no longer exists…

In order to be able to transfer additional payments to the state budget according to the direction of the management agency, VNBA proposes to consider allowing banks to follow the accounting plan to reduce fee revenue from L/C operations. or record deductible expenses when calculating corporate income tax.

According to VNBA, the General Department of Taxation’s guidance in Official Dispatch No. 5366/TCT-DNL is understood as the obligation to pay VAT for all L/C transactions arising from the effective date of the Law on Credit Institutions. 2010 (January 2011).

However, according to current regulations (in Clause 1, Article 47 of the Law on Tax Administration 2019), the time limit for taxpayers to declare and pay additional tax is 10 years from the expiration date of tax declaration submission.

In order to be able to transfer additional payments to the state budget according to the direction of the management agency, VNBA proposes to consider allowing banks to follow the accounting plan to reduce fee revenue from L/C operations. or record deductible expenses when calculating corporate income tax.

Thus, banks begin to declare and pay additional VAT for L/C activities starting from November 2013 (calculated from the deadline for submitting VAT declarations of November 2013), not from January 1/2013. 2011.

Regarding tax declaration and payment at units, VNBA said that VAT is a tax paid monthly, so banks must additionally declare monthly. This leads to a huge amount of work for banks due to having to review records and data for many years while the units have also gone through many splits and mergers.

In addition, the number of additional declarations and detailed lists according to regulations at units that incur VAT payment obligations for L/C activities is very large, for example: Vietcombank alone has to declare 120 additional declarations. Monthly tax declaration/1 Unit × 126 Units = 15,120 tax declarations.

Regarding VAT calculation, the State Audit said that recently, when conducting audits at some banks such as Vietcombank, Vietinbank… said: (i) Early payment fees (domestic L/C, export L/C, EPLC) are loan in nature so are not subject to value added tax; (ii) For UPAS L/C products, banks only benefit from the difference between L/C fee revenue (collected from customers) and expenses (interest paid to the sponsoring bank and contractor tax). payable) and allows fee revenue to be offset against interest paid to the sponsoring bank and withholding tax).

Therefore, with the data for 2020, 2021, 2022, the State Audit has excluded these fees when calculating additional VAT and some banks have paid additional VAT according to the data calculated by the State Audit (due to The report of the State Audit has mandatory value.

To solve the above problems, VNBA proposes 5 solutions.

The first, Allows credit institutions to begin declaring and paying additional value-added tax for L/C activities from the November 2013 value-added tax period in accordance with the provisions of the Law on Tax Administration 2019.

Monday, Allows credit institutions to account the amount of value added tax for L/C activities collected from 2013 to present as extraordinary expenses in the year of implementation and to record a decrease in profit because this tax is Customer obligations that the bank cannot recover from the customer.

Tuesday, Allows credit institutions to declare additional value-added tax each year, without having to declare and adjust each month’s declaration.

Wednesday, Allows credit institutions to pay value-added tax centrally at their headquarters, without having to declare and pay tax to the local tax department. In case it is necessary to regulate the local tax department, the General Department of Taxation shall regulate the local tax department.

Thursday, There are no penalties for late payment of value-added tax or administrative violations because this is not the fault of credit institutions, ensuring the rights of taxpayers according to Clause 11, Article 16 of the Law on Tax Administration 2019.

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *