The Decree No. 49/2022/ND-CP (“Decree 49”) was issued on 29 July 2022 to amend and supplement a number of the Government’s Decree No. 209/2013/ND-CP dated December 18, 2013, detailing and guiding a number of articles of the Law on Value-Added Tax, which was amended and supplemented under Decree No. 12/2015/ND-CP, Decree No. 100/2016/ND-CP and Decree No. 146/2017/ND-CP.
Under this Decree 49, business establishments will not be refunded with the VAT but carried forward such VAT amount to the subsequent period if:
- their conditional investment projects fail to meet statutory conditions in the Law on Investment. Failure to meet such compulsory conditions is equal to the absence of required licenses, approvals to conduct conditional business activities;
- their conditional investment projects no longer meet statutory conditions because of licenses and approval’s revocation; or
- their investment projects are projects on exploiting natural resources and minerals licensed from 01 July 2016 or investment projects on production of products and goods whose total value of natural resources and minerals plus energy costs accounting for 51% or more of product cost except for oil and gas field prospecting, exploration and development projects specified at Article 1.3.(a) of the Decree 49.
This Decree takes effect from 12 September 2022.
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