In order to optimize the time to carry out VAT refund procedures as well as ensure accurate VAT refund records. Before consulting the price for value-added tax refund service at BRIGHT STAR TAX AGENCY. Let’s take a look at the brief information about this tax.
1. What is value-added tax refund service?
A value-added tax (VAT) refund service is a process in a country’s tax system in which businesses can request a refund of the amount of VAT they paid to the supplier of the service or goods.
In fact, when a business purchases a product or service from a supplier, VAT is charged and charged to the value of that product or service. The business will pay this VAT amount to the supplier, but can then request a refund of this VAT amount from the tax authorities.
VAT refunds allow businesses to recover part or all of the VAT paid during the purchase or provision of services. This helps reduce the tax burden and increase competitiveness for businesses.
However, VAT refunds can involve complex regulations and processes, requiring specific documents and conditions. Businesses need to comply with tax regulations and follow the correct procedures to be eligible to request a VAT refund from tax authorities.
2. Value-added tax refund service at SAO SANG
The services your business will receive when registering for the value-added tax refund service at SAO MORNING:
- Review tax records: The specialist will review the tax records of the business, check the validity of invoices, documents and related transactions.
- Tax refund optimization: Experts will advise and guide businesses on how to optimize the VAT refund process, to ensure businesses recover the VAT amount in the most effective way.
- Preparation and filing of tax refund documents: The specialist will carry out the preparation of VAT refund documents, including the processing and organization of related documents, forms, reports and records. They will then submit this dossier on time and interact with the tax authorities.
- Handling related procedures: Value-added tax refund services can also help businesses handle procedures related to VAT refund, including resolving inquiries, requesting information from tax authorities and assisting in negotiations with tax authorities.
3. VAT refund cost at BRIGHT STAR TAX AGENCY
- VAT refund application fee: 10,000,000 VND per application.
- VAT refund service fee: 6% of the total refund amount.
Hotline: 0973 061 122 – 0924 359 278
4. Time to complete VAT refund procedures
The VAT refund process is completed within 45 working days.
Based on BRIGHT STAR TAX AGENCY VAT refund experience for more than 10 years, we have noticed that many businesses make errors in VAT refund documents and procedures, affecting the tax refund process and results. For example:
- Lack of confirmation from customs in the export goods declaration.
- The VAT refund request does not clearly identify the enterprise’s tax refund case.
- The account number receiving VAT refund does not match the account number registered with the tax authority.
- Do not adjust VAT data when declared incorrectly, leading to a mismatch between the tax amount requested for refund and the tax amount declared…
5. Commitment to VAT refund service at SAO SANG
- Optimize costs and time for you.
- Carefully check all documents and invoices before submitting the tax refund application.
- Minimize the possibility of tax arrears and administrative penalties.
- The business representative explains to the tax authority during the tax refund procedure.
- The business representative receives the VAT refund decision from the tax authority.
- Track progress until you receive your tax refund.
With our VAT refund service, SAO SANG is committed to providing optimization of costs and time, thoroughly checking documents and invoices, minimizing the risk of tax arrears and penalties, and at the same time represent the business to explain to the tax authorities. We will also monitor progress until you receive your tax refund.
6. Subjects eligible for value added tax refund
- VAT refund conditions To receive a value-added tax refund, you need to meet the following conditions:
- VAT is deductible.
- Calculate VAT using the deduction method.
- Open a bank account with your business’s tax code.
- Prepare and maintain accounting books and accounting documents according to current regulations.
- Carry out value added tax refund procedures according to current regulations.
- Have a business registration certificate or investment registration certificate and seal.
- Subjects eligible for VAT refund SAO SANG will share cases of VAT refund in the following 4 cases:
- Case 1: For exported goods and services
Establishments and businesses have non-deductible input VAT of 300 million VND or more for some specific cases such as: exporting and doing domestic business, importing goods and then exporting abroad, exporting into the tariff-free zone.
- Case 2: For new investment projects
Newly established establishments and enterprises are in the investment phase and pay VAT according to the deduction method. At the same time, the accumulated VAT amount on goods and services related to investment projects is at least VND 300 million.
- Case 3: For investment projects for establishments and currently operating enterprises
After clearing and declaring VAT, establishments and enterprises have an undeducted input VAT amount of 300 million VND or more. If it is less than 300 million VND, it will be carried forward to the next tax declaration period.
- Case 4: For establishments, businesses calculate tax using the deduction method
Establishments and businesses that change type, change ownership, divide, split, merge, consolidate, dissolve, stop operating, or go bankrupt overpay VAT or have not fully deducted input VAT from 300 million VND or more.
Hotline: 0973 061 122 – 0924 359 278
7. Necessary procedures and documents for value added tax refund according to Circular 80
- How to refund VAT
VAT refund can be done in the following 3 forms:
- Submit directly to the tax authority: You can go directly to the tax authority and submit your VAT refund here.
- Submit by mail: If you are not convenient to go directly to the tax office, you can submit your VAT refund application by mail.
- Submit online at the tax authority’s electronic information portal: Currently, you can also make a VAT refund online through the tax authority’s electronic information portal. This helps you save time and effort.
- VAT refund documents
Depending on each case requesting a VAT refund, specific document requirements will be different. Below are details about VAT refund documents for each case:
- For exported goods and services: VAT refund documents for exported goods include form 01/DNHT for tax refund request, goods purchase and sale and processing contract, invoices, and sales/export documents. import/processing, customs declaration of exported goods, form 01-2/HT list of cleared customs declarations, and documents proving payment for exported goods via banks.
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For goods and services in the case of export entrustment and the contract has been liquidated: VAT refund documents for entrusted exports include the export entrustment contract, customs declaration of exported goods, Minutes of liquidation of the export entrustment contract, minutes of periodic debt comparison between the entrusting party and the entrusted party, invoices and documents of sales or export or processing, form 01/DNHT request for refund taxes, and documents proving payment for exported goods via banks.
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For investment projects: VAT refund dossier for investment projects includes form 02/GTGT VAT declaration, copy of charter capital contribution document, decision to establish investment project management board, form 01-1/HT list of documents, purchase invoices, documents, invoices, contracts related to investment projects, form 01/DNHT requesting tax refund, copy of business license or other documents proof of eligibility for operation, copy of investment registration certificate (in case of applying for an investment license), construction license and copy of land use right certificate or other documents equivalent (in case the project has construction works).
Note: For some cases such as software export business activities (electronic form), construction and installation activities in non-tariff zones or abroad, service provision activities for businesses. export processing industries such as electricity and water, food – foodstuffs, consumer goods, stationery… you do not need to submit sales/export/processing invoices.
- Time to receive VAT refund
The time limit for the tax authority to issue a decision on VAT refund or tax refund cum state budget clearing may vary depending on each case. Below are specific times:
- In case of advance tax refund, check later: Within a maximum of 6 working days from the date of receiving the tax refund dossier.
- For cases of inspection first, tax refund later: Within 40 working days from the date of receipt of complete tax refund documents.
According to Circular 80/2021/TT-BTC, after receiving an order to refund state budget revenues or an order to refund and offset state budget revenues, the State Treasury will pay tax refunds within 1 day. work.
Hotline: 0973 061 122 – 0924 359 278
