Foreigners and overseas Vietnamese would receive value-added tax (VAT) refund for goods purchased in Vietnam and brought up upon departure through not only Noi Bai and Tan Son Nhat international airports but also other international airports and seaports.
In addition, the number of banks acting as VAT refund agents would also be increased, rather than being restricted at only two commercial banks as at present.
Such points are provided in a draft circular guiding the pilot VAT refund for goods purchased in Vietnam by foreigners and brought up upon departure, which has recently released by the Ministry of Finance.
Accordingly, the ministry is considering proposing the Prime Minister to allow foreign tourists to receive VAT refund upon departure from Da Nang and Cam Ranh airports and some international seaports.
For the sake of convenience, the ministry proposes abolishing the requirements on business locations of goods sellers engaged in the pilot VAT refund program. Under current regulations, businesses that sell goods under the VAT refund scheme must be located in Hanoi, Ho Chi Minh City or craft villages being tourist destinations. This requirement is now removed from the draft.
As for goods eligible for VAT refund, while current regulations require goods to be purchased in Vietnam with a receipt-cum-VAT refund declaration issued within 30 days before the date of departure, the draft extends such duration to 60 days so as to expand the scope of foreigners eligible for tax refund.
As scheduled, the draft paper would be effective on July 1, and replace Circular No. 58/2012/TT-BTC.-