Question:
Hi-Tech Company is constructing Factory Projects 1, 2, and 3 within the Ho Chi Minh City High-Tech Park and leasing them out. Currently, the factory buildings have been completed and are in operation. So, can our company receive a refund of VAT for these investment projects? Since the inception, our company has only reported taxes using form 01/GTGT, without using form 02/GTGT. Is this correct or incorrect? Please provide specific guidance.
Answer:
-Based on Circular No. 130/2016/TT-BTC dated August 12, 2016, issued by the Ministry of Finance, guiding the implementation of Decree No. 100/2016/NĐ-CP dated July 1, 2016, by the Government, which provides detailed regulations for the implementation of the Amended and Supplemented Law on Value Added Tax, the Law on Special Consumption Tax, and the Law on Tax Administration, and amending some Articles of the Circulars on taxes.
-Based on Circular No. 156/2013/TT-BTC dated November 6, 2013, issued by the Ministry of Finance, guiding the implementation of certain Articles of the Law on Tax Administration.
-In accordance with the above regulations:
- In the case where the company is carrying out the construction of Factory Projects 1, 2, and 3 within the Ho Chi Minh City High-Tech Park for leasing purposes, the company should, in principle, declare VAT input tax for the investment project on the VAT Declaration Form (form 02/GTGT) on a monthly or quarterly basis.
- If the company has been declaring VAT using form 01/GTGT monthly instead of form 02/GTGT, it is not in accordance with the regulations. Additionally, if the investment project has been completed and is already operational, the company is not eligible for a VAT refund for the investment project.
