Vietnam adds 5 more exit terminals for VAT refunds to foreigners
Vietnam adds 5 more exit terminals for VAT refunds to foreigners
Foreign visitors are now able to claim VAT refunds for goods they have purchased in Vietnam when leaving the country through seven border gates instead of only two as before, according to a fiat from the Prime Minister that took effect Tuesday.
Starting July 1, the VAT refund to foreigners program will expand into five more exit terminals, including Da Nang International Airport and Da Nang port in central Da Nang City, Cam Ranh International Airport and Nha Trang port in coastal Khanh Hoa Province, and Khanh Hoi International Seaport in Ho Chi Minh City.
The program had previously been on a trial run at HCMC’s Tan Son Nhat International Airport and Hanoi-based Noi Bai International Airport.
Foreigners will receive 85 percent of the value-added tax imposed on their purchases and the remaining 15 percent will be counted as service fees.
They can only receive a refund for goods worth more than VND2 million (US$94) and purchased within 30 days of their exit date.
Between July 1, 2012 and February 2, 2014, 8,628 foreigners obtained VAT refunds worth VND32.9 billion ($1.54 million) for more than VND425 billion ($20 million) worth of goods they purchased in the Southeast Asian nation, according to the General Department of Vietnam Customs.
tuoitrenews
