Some goods, services receive VAT waiver

Hanoi (VNA) - Some goods and services, including finance and insurance,
have received a Government waiver against paying value added tax (VAT).

Decree 123/2008/ND-CP issued on Dec. 8 details regulations and guidelines
on some aspects of the Law on Value Added Tax that comes into effect on Jan.
1.

Under the decree, several services will be exempted from VAT, including
life insurance, lending, discount of transferable instruments and commercial
papers, financial leasing and underwriting.

Securities services that will also enjoy zero tax include brokerages,
self-employed people, stock underwriting, investment consulting, securities
deposits, investment funds and investment portfolio management.

Other goods that will get the same preferential treatment include
unprocessed products, such as farm produce, animal husbandry and seafood
products.
Health care, maintenance, construction, public transport, imported
aid goods, gifts, transfer of technology, transfer of intellectual property
rights, and unprocessed ores and minerals will also be exempt.-Enditem