Foreigners to receive VAT refund from July

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SaiGon GP English - 25 month(s) ago 3 readings

Foreigners to receive VAT refund from July

Foreigners will now receive a Value Added Tax (VAT) refund on commodities purchased while in Vietnam and which they carry back when leaving the country, at Noi Bai and Tan Son Nhat International Airports from July this year until the end of June next year.

This new pilot scheme for foreigners was announced on Thursday at a conference chaired by Do Hoang Anh Tuan, Deputy Minister of Finance in Ho Chi Minh City.

The conference was also attended by Nguyen Thi Hong, deputy chairwoman of the HCMC People’s Committee and over 200 businesses in the city.

From July 1, all foreigners will receive VAT refund on purchased commodities they wish to carry back with them. The VAT refund policy will only be applicable on brand-new items, permissible to carry in the cabin, and are not listed as banned, restricted or illegal.

Those wanting a refund must present a bill and fill a tax refund form valid for 30 days before date of exit. Goods purchased must have a total value of at least VND2 million ($95) and purchased in the same shop on the same day.

Noi Bai and Tan Son Nhat International Airports will implement the scheme from July 1, 2012 to June 2013.

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