Currently, there are two methods of calculating VAT: Direct tax calculation method and Deduction method . Depending on the conditions of the enterprise, taxpayers will choose and apply the appropriate tax calculation method.
In today’s sharing article, MISA meInvoice would like to present to readers more details about how to calculate VAT by the direct method including: Applicable subjects and how to determine the amount of VAT payable.
Table of Contents Hide
1. What is the direct method of calculating VAT?
Case 1: For activities of buying, selling, and processing gold, silver, and precious stones
1.1 Applicable subjects
1.2 Determination of VAT payable
Case 2: For other activities (excluding activities of buying, selling, and processing gold, silver, and precious stones)
2.1 Applicable subjects
2.2 How to determine the amount of VAT payable
3. Method of calculating VAT for business households and business individuals
3.1 Applicable subjects
3.2 Methods of calculating VAT for business households and individuals
3.3 Tax calculation method for some cases
1. What is the direct method of calculating VAT?
Direct tax calculation is the method by which greece telegram data businesses calculate value added tax (VAT) to pay at a rate on revenue for each business line (depending on each business line, there will be different rates).
With this tax calculation method, businesses only need to have revenue to pay VAT without
depending on or caring about the input VAT rate.
subjects applying the direct method of. Calculating you Supply goods and value added tax are classified into. The following 2 cases:case 1: for activities of buying .selling, and processing gold, silver, and precious stones.
Details of the method of calculating direct. Tax on added value for the trading and processing of gold. Silver and precious stones are specified. In point 4 article 3 of circular 119/2014/tt-btc.payment price of gold .silver and precious stones sold . Is the actual price betting data stated on the sales invoice. Including processing fees (if any), vat and additional .charges and fees that the seller is entitled to.
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Payment price of purchased gold, silver, and precious stones : is determined by the value of domestically purchased or imported gold, silver, and precious stones, including VAT used for the purchase, sale, and processing of sold gold, silver, and precious stones.
The VAT rate for gold silver and precious stones is 10% .
Business establishments engaged in the purchase, sale, and processing of gold, silver, and precious stones must separately account for these activities to determine the related VAT payable.
– The VAT payable for the trading and manufacturing of gold, silver and precious stones with a negative value (<0) shall be offset against the positive VAT payable (>0) arising from the same activity