Circular 130/2016/TT-BTC dated 12 Aug 2016
Recently, Ministry of Finance has officially released Circular 130/2016/TT-BTC dated 12 Aug 2016, which provides guidance on Decree No. 100/2016/NĐ-CP dated July 1, 2016 of the Government providing detailed guidance on the Law amending and supplementing some articles of the Law on Value Added Tax, Law on Excise Tax and Law on Tax Administration.
Generally, Circular No. 130/2016/TT-BTC (“Circular 130”) supplements the changes in Decree No. 100/2016/ND-CP (“Decree 100”) and the prevailing circulars guiding the Law on Value Added Tax (“VAT”), Excise Tax, and Tax Administration. Apart from updates on the new provision of Decree 100, Circular 130 also provides detailed instructions on several notable items such as: VAT refund, Determination of interest on late tax payment, Determination on expansion investment projects, Special consumption tax.
The Circular takes effect from the effective date of Law 106/2016/QH13, which is 01 July 2016.