The VAT refund pilot scheme will be piloted at Noi Bai International Airport in Hanoi and Tan Son Nhat International Airport since June 1.
This is part of a newly-issued circular of the Ministry of Finance on the pilot implementation of VAT refund.
Under the circular, foreigners will receive a refund of VAT on goods they have bought in Vietnam and taken home when leaving the country via the two airports.
Foreigners are entitled to obtain a refund that accounts for 85% of VAT on good they bought and cThe VAT refund pilot scheme will be piloted at Noi Bai International Airport in Hanoi and Tan Son Nhat International Airport since June 1.ommercial banks will get the remaining 15% as VAT refund fees.
The refund will be made in Vietnamese dong, which can be converted to other currencies using up-to-date exchange rates posted by commercial banks. Foreigners, who wish to get the refund, are required to present to the banks in charge of handling VAT refund their boarding pass and invoice cum VAT refund declaration form certified by the customs agencies prior to their departure.