Update on the Decree Guiding the Amended Law on Tax Laws

14:56, 11/07/2024

Decree 100/2016/ND-CP guiding the Law on Value-Added Tax, Law on Special Consumption Tax, and amended Law on Tax Administration has several notable points:

- Supplementary services for the elderly and disabled, including healthcare, nutrition, and the organization of cultural, sports, recreational activities, physical therapy, and rehabilitation for the elderly and disabled, are not subject to value-added tax;- Reduction in the late tax payment penalty rate to 0.03%/day calculated on the amount of late tax payment (previously 0.05%/day);- Beyond the tax payment deadline, if the taxpayer has not paid or has not fully paid the owed tax, late tax payment, fines, or late payment fines, and the guarantor has not fulfilled the guarantee obligation, then the guarantor must pay the late payment at a rate of 0.03%/day calculated on the late tax and late fine amount and will be subject to enforcement;

Thus, the late payment rate has been reduced compared to the previous regulation (previously 0.07%/day calculated on the amount of late tax payment, 0.05%/day calculated on the amount of late fine payment, and subject to enforcement).

Decree 100/2016/ND-CP comes into effect from July 01, 2016 (Clause 2, Article 3 of Decree 100 takes effect from September 01, 2016).

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