Uni 04-01-2016 - Guidance on form 06/GTGT for newly-established enterprises, cooperatives in a year

According to official letter 5460/TCT-KK guiding the receipt of form 06/GTGT as follows:

1. For newly-established  enterprises, cooperatives  in quarter 4 annually (from 01 Oct to 31 Dec)

The determination of VAT calculation method  and stability time of VAT calculation method to follow instruction of official letter 1097/TCT-KK dated 30 Mar 2015 of GDT.

2. For newly-established  enterprises, cooperatives  from 01 Jan to 30 Sep annually

- For  enterprises, cooperatives are applying deduction method

+ Enterprises, cooperatives estimate revenue from one billion VND and follow accounting regime, invoices, vouchers will continue stability deduction method  for next 2 years and must not send form 06/GTGT to tax authority.

+ Enterprises, cooperatives estimate revenue from one billion VND but conduct full accounting regime, invoices, vouchers will register voluntarily to apply deduction method and must send form 06/GTGT before 20 Dec of previous year closing to the year performing tax method, for a stable cycle of next 02 years. If they do not send form 06/GTGT, they  apply to VAT under direct method for next year.

- For enterprises, cooperatives  applying to direct method

For newly-established  enterprises, cooperatives  are applying direct method must conduct tax method  until the end of a first calendar year. If they change VAT calculation method for deduction method must send form 06/GTGT at latest on 20 Dec of  the previous year closing to the year performing tax method. If they do not send form 06/GTGT, they continue to apply to direct method for next year.