Thông tư 75/TC-TCT

CIRCULAR No.75-TC/TCT OF OCTOBER 30, 1997 GUIDING THE RATES FOR CONVERTING FOREIGN CURRENCIES INTO VIETNAM DONG FOR TAX PAYMENT AND STATE BUDGET COLLECTIONS

Pursuant to the tax laws and ordinances currently in force;

Pursuant to the Law on Foreign Investment in Vietnam;

After consulting the State Bank, the Ministry of Finance hereby provides the following guidance on the conversion of foreign currencies into Vietnam Dong for tax payment and State budget collections:

The rates for converting foreign currencies into Vietnam Dong for payment of taxes and State budget collections shall be the average actual exchange rates on the inter-bank foreign currency market, which are announced by the State Bank of Vietnam at the time of budget remittance.

For export and import taxes, the above said rates shall serve as basis for determining the prices for calculating taxes on export and import goods.

This Circular takes effect 15 days after its signing. The previous stipulations which are contrary to this Circular�s guidance are now annulled. This Circular shall not apply to the cases where taxes have already been paid and the final account of tax payment has been settled.

Any problem arising in the course of implementation shall be promptly reported by concerned agencies and units to the Ministry of Finance for consideration and settlement.

For the Minister of Finance

Vice Minister

VU MONG GIAO