Official Letter No. 1928/CCTKV15-QLDN3-DON dated May 5, 2025, issued by the Regional Tax Sub-Department XV regarding tax policy

In cases where a company pays tax under the credit method and has a new investment project (including investment projects divided into multiple investment phases or categories) as regulated by the Law on Investment, the company must declare VAT separately (using Form 02/GTGT as per Circular No. 80/2021/TT-BTC) for the investment project and offset the input VAT of the investment project against the VAT payable from ongoing production and business activities. After offsetting, if the accumulated uncredited input VAT of the investment project reaches VND 300 million or more, the company is eligible for a VAT refund.

The company may declare the remaining uncredited VAT that has not been claimed for refund from the investment project to be carried forward for further deduction (this refers to VAT that is still deductible but not eligible for a refund and has been separately declared on the investment project VAT return) when the investment project commences operations, by reporting it under item (39a) on Form 01/GTGT as stipulated in Circular No. 80/2021/TT-BTC.

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