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DECISION No. 05/1999/QD-TTg of January 23, 1999 on tax exemption for consignment trading and reduction of value added tax (VAT) on food, fresh and raw foodstuff, fresh vegetable and fruits To exempt value added tax and enterprise income tax for 3 months as from February 1st, 1999 for consignment trading in food, fresh and raw foodstuff, fresh vegetable and fruits to meet the people’s demands in the Tet festival of the Year of the Cat, 1999. To reduce 50% of VAT rate for 6 months as from Feb. 1st, 1999 for commercial enterprises that apply the deduction method for calculation of VAT on food, fresh and raw foodstuff, fresh vegetable and fruits. The above-said food, fresh and raw foodstuff, fresh vegetable and fruits must be those produced, raised or caught inside the country. More concretely: Food shall include paddy and rice of different kinds, maize, potato and manioc; Fresh and raw foodstuff shall include meat of livestock, aquatic products; and fresh vegetable and fruits.- (Summary)
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