How to write an invoice when receiving VAT reduction from November 1, 2021
From November 1, 2021 to the end of December 31, 2021, many goods and services will be reduced VAT in the spirit of Resolution 406/NQ-UBTVQH15.
In case of VAT calculation by credit method:
When making a value-added invoice for the provision of goods and services subject to value-added tax reduction, at the value-added tax rate line, the enterprises can write “the prescribed tax rate (5% or 10%) x 70%”; value added tax and the total amount to be paid by the buyer;
In case of VAT calculation according to the percentage method on revenue:
When making a sales invoice for the provision of goods and services subject to value-added tax reduction, in the column “Total money” write all the money for goods and services before the reduction, in the line “Add goods, services” is recorded by the number that has reduced 30% of the percentage of revenue, and at the same time notes: “reduced… (amount) equivalent to 30% of the rate to calculate value-added tax according to Resolution No. 406/NQ-UBTVQH15”.
This is a very important note for accountants in invoicing from November 1, 2021.
A separate invoice must be made for each tax-reduced goods and service
Clause 5, Article 4 of Decree No. 92/2021/ND-CP clearly states that in case an enterprise or organization has issued an invoice and declared at the tax rate or percentage level to calculate the VAT that has not yet been reduced,
Correction of errors when making invoices according to the unreduced tax rate
Clause 6, Article 3 of Decree 92, these businesses and organizations need to stamp according to the price that has been reduced by 30% of the VAT rate or the price that has been reduced by 30% of the percentage rate, in addition to the pre-printed price criteria to continue for use.
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