Giáo trình Taxation - Chapter 4: Excise Tax (SCT)

Learning Outcomes

• LO 4-1: Understanding concepts, characteristics and roles of

excise tax.

• LO 4-2: Specify goods and services subject and not subject to

current excise tax of Vietnam.

• LO 4-3: Recognise taxpayers of Vietnamese current excise tax.

• LO 4-4: Define tax calculation methods, taxable prices and tax

rates of Vietnamese current excise tax.

• LO 4-5 Explain tax refund, deduction and reduction of

Vietnamese current excise tax

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garettes, cigars, and other products derived from tobacco plants (From 01/01,2017 to 31/12/2017) 70 a) Passenger cars having 9 seats or fewer, except for those in Points 4dd, 4e, and 4g in this Table From January 01, 2018 75 Of a cylinder capacity not exceeding 1,500 cm3 40 2 Alcohol From January 01, 2018 35 a) Alcohol with ABV ≥ 20o 60 Of a cylinder capacity exceeding 1,500 cm3 but not exceeding 2,000 cm3 45 From January 01, 2018 65 From January 01, 2018 40 b) Alcohol with ABV < 20o 30 Of a cylinder capacity exceeding 2,000 cm3 but not exceeding 2,500 cm3 50 From January 01, 2018 35 Of a cylinder capacity exceeding 2,500 cm3 but not exceeding 3,000 cm3 55 3 Beer 60 From January 01, 2018 60 From January 01, 2018 65 Of a cylinder capacity exceeding 3,000 cm3 but not exceeding 4,000 cm3 90 Table of Excise Tax Rate (cont.) ✓H No. Goods/services Tax rates (%) No. Goods/services Tax rates (%) Of a cylinder capacity exceeding 4,000 cm3 but not exceeding 5,000 cm3 110 dd) Car running on both gasoline and electricity or bioenergy, the proportion of gasoline does not exceed 70% of total energy used. 70% of tax rates applied to the same types of cars in Points 4a, 4b, 4c, and 4d Of a cylinder capacity exceeding 5,000 cm3 but not exceeding 6,000 cm3 130 Of a cylinder capacity exceeding 6,000 cm3 150 b) Passenger cars having 10 – 16 seats, except for those in Points 4dd, 4e, and 4g 15 e) Cars running on bioenergy 50% of tax rates applied to the same types of cars in Points 4a, 4b, 4c, and 4d c) Passenger cars having 16 – 24 seats, except for those in Points 4dd, 4e, and 4g 10 d) Cars used for both passenger and cargo transport, except for those in Points 4dd, 4e, and 4g 15 Of a cylinder capacity not exceeding 2,500 cm3 15 g) Cars running on electricity Of a cylinder capacity exceeding 2,500 cm3 but not exceeding 3,000 cm3 20 Passenger cars having 9 seats or fewer 15 Of a cylinder capacity exceeding 3,000 cm3 25 Passenger cars having 10 – 16 seats 10 Table of Excise Tax Rate (cont.) ✓H No. Goods/services Tax rates (%) No. Goods/services Tax rates (%) Passenger cars having 16 – 24 seats 5 9 Air conditioners not exceeding 90,000 BTU 10 Cars for transport of both people and goods 10 10 Playing cards 40 Motorhome without capacity discrimination 70 11 Votive papers 70 From January 01, 2018 75 II Services 5 Motorcycles, motor tricycles of a cylinder capacity exceeding 125 cm3 20 1 Dancing club business 40 6 Aircraft 30 2 Massage, karaoke business 30 7 Yacht 30 3 Casino business, electronic casino game business 35 8 Gasoline 4 Betting business 30 a) Gasoline 10 5 Golf course business 20 b) E5 gasoline 8 6 Lottery business 15 c) E10 gasoline 7 Tax Declaration ▪ Responsibility to declare excise tax: ✓ Declarations of SCT shall be submitted to the supervisory tax authority by the taxpayers that produce, process, and/or sell goods/services subject to SCT, the exporters that buy goods at SCT-exclusive prices for export and eventually sell them on the domestic market. ✓ If the taxpayer manufactures goods subject to SCT and sells goods via its branches, stores, agents, etc., the taxpayer must declare SCT on all these goods. The aforementioned branches, stores, agents, etc. are not required to declare SCT, but a copy of the sales statement, which is sent to the taxpayer, must be sent to the supervisory tax authority. ✓ If the taxpayer has an affiliated facility that manufactures goods subject to SCT in another province than the head office, SCT shall be declared at the supervisory tax authority of the manufacturing facility. Tax Declaration (cont.) ▪ Tax declaration period: ✓ SCT declarations shall be submitted monthly; ✓ SCT on the exports that are eventually sold domestically shall be declared whenever it is incurred. ▪ Deadline for submitting tax declaration: ✓ the 20th of the month succeeding the month in which SCT is incurred ▪ A declaration dossier consists of: ✓ A SCT declaration (form 01/TTDB); ✓ A list of invoices for goods and services subject to SCT (form 01- 1/TTDB); ✓ A list of deductible SCT (if any - form 01-2/TTDB). Tax Refund ▪ Cases entitled to a tax refund: ✓ Goods temporarily imported and re-exported: refunded amount corresponding to the quantity of goods actually re-exported; ✓ Goods are materials imported for manufacturing or processing of goods for export: refunded amount corresponding to the quantity of materials used for manufacturing or processing of goods that have been actually exported; ✓ When making a terminal tax statement upon merger, division, separation, dissolution, bankruptcy, ownership transfer, lease of state-owned enterprises that have paid SCT excessively, SCT refund may be claimed; ✓ The refund is decided by a competent authority; ✓ Tax refund is required under an international agreement to which Vietnam is a signatory; ✓ Paid SCT is higher than SCT payable. LO 4-5: Explain tax refund, deduction, and reduction of Vietnamese current excise tax. Tax Deduction • Taxpayers that produces SCT-liable goods from SCT- liable raw materials may have SCT amounts already paid on raw materials deducted upon the determination of SCT amounts payable at the stage of production. • The deductible SCT amount is equivalent to the SCT amount of raw materials used for the production of SCT-liable goods sold. • Formula to determine SCT deductible upon SCT declaration: Excise tax payable = SCT payable on SCT-liable goods ex- warehoused for sale in a period - SCT amount already paid on raw materials purchased which are equivalent to volumes of ex-warehoused goods for sale in the period Example 4-14: In a tax declaration period, ABC Company has the following operations: + It imports 10,000 liters of liquor and already paid SCT amount of VND 250 million upon importation (based on the receipt of excise tax payment at the stage of importation). + It ex-warehouses 8,000 liters to produce 12,000 bottles of liquor. + It sells 9,000 bottles of liquor, the excise tax amount payable for these 9,000 bottles is VND 350 million Required: Calculate SCT payable in the period. Excise tax amounts deducted = (250M / 10,000 liters) x (8.000 liters / 12.000) x 9.000 bottles = VND 150M. SCT amount payable = 350M – 150M = VND 200M Tax Deduction (cont.) • Taxpayers of SCT-liable goods shall be entitled to deduct SCT amounts already paid at the importation stage when determining SCT amounts payable on goods sold domestically. • Deductible SCT amount is equivalent to the SCT amount of the SCT-liable imported goods sold after import and must not exceed the SCT on goods sold domestically. • In cases where SCT amounts are not fully deducted due to force majeure events, taxpayers shall include the remaining SCT after deduction in expenses when calculating corporate income tax. • If the SCT amount already paid has not yet been determined for the quantity of materials used for manufacturing goods sold in the period, the figures of the previous period may be used to calculate deductible SCT and the actual amount shall be determined at the end of the quarter or year. In any case, deductible SCT must not exceed the SCT on the quantity of materials set out in technical regulations applied to such products. The manufacturer must register such technical regulations with the supervisory tax authority. Tax Reduction • Taxpayers that produce excise taxable goods and face difficulties caused by natural disasters or unexpected accidents are entitled to tax reduction. • The tax reduction level shall be determined based on the actual extent of damage caused by natural disasters or unexpected accidents but must neither exceed 30% of the payable tax amount in the year the damage occurs nor exceed the balance between the value of damaged assets and the received compensation (if any). LO 4-5: Explain tax refund, deduction, and reduction of Vietnamese current excise tax. A Big Example • TaxpayersSale data of Company X specializing in production of wine below 20o in June 201X are as follows: 1.Sold on account to J&P Trading Company 6,000 bottles of wine, the selling price excluding VAT of VND 23,400/bottle. ABC would pay the purchase in August 201X according to the commercial contract. 2.Used 1,000 bottles of wine to exchange with Company B to get the materials and give 50 bottles of wine to Company B as the gift. 3.Sold at retail 2,000 bottles of wine with the selling price excluding VAT of VND 25,200/bottle. 4.Delivered to the agent 4,000 bottles of wine, the agent sold at the fixed price excluding VAT of VND 24,000/bottle under the contract signed with Company X; the agent commission at 5% of the selling price excluding VAT. 5.Directly exported 5,000 bottles of wine with the selling price at the exporting checkpoint of Vietnamese at VND 30,000/bottle. 6.Sold 800 bottles of wine to enterprises in industrial zones with the selling price excluding VAT of VND 24,600/bottle. 7.Received cash for the sale of 2,000 bottles of wine last month, VND 55 million of which the output VAT VND 5 million. Required: Determine the excise tax payable of Company X in June 201X? Additional data: - By the end of June 201X, the agent sold 90% of the delivered wine and returned the remainder to Company X. - Excise tax rate of wine below 20o is 25%. - The cost of an empty bottle is VND 2,000.

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