Categories: Update

Special consumption Tax for imported Yacht

These following guide on the Law on Special Consumption with Yacht, The Dispatch No. 2738/TCT – CS on Jul, 31^th2012 issued by General Department of Taxation as following;

Pursuant to Clause 3, Article 3 of the Law on Special Consumption No. 27/2008/QH12 on November, 14^th 2008 of the National Assembly “The aircraft, yachts used for business purposes freight, tourists ” are not subject to special consumption tax.

Pursuant to Clause 4, Article 3 of Circular No. 05/2012/TT- dated 05/01/2012 of the Ministry of Finance guiding the special consumption tax regulations “4. The aircraft, yachts used for business purposes freight, passenger and tourist business.” are not subject to special consumption tax.

In case of aircraft, yachts are not subject to special consumption tax, but then it is not used for business purposes freight, passenger and tourist business, they will be subject to the special consumption tax.

Enterprises with aircraft, yachts imported with the above converted purpose must declare and pay the tax at the customs office under the guidance of the Ministry of Finance on customs procedures; inspection and supervision agencies; export tax, import duty and tax management for export and import.

Enterprises with aircraft, yachts produced in the country with converted purpose above must declare and pay the tax on the value remaining after deducting the depreciation value in accordance with the tax direct management. ”

This decision shall be of full force since Jul, 31st 2012.

Deputy General Director of the signed
Dated 31/07/2012

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