HCM City refunds $1.4m in VAT to foreigners

tohang

HCM City has refunded over VND30 billion, or US$1.4 million, of value-added tax (VAT) to foreigners leaving Vietnam through the Tan Son Nhat International Airport since July 1, 2012.

Foreigners leaving Viet Nam through Tan Son Nhat Internal Airport will get VAT refund. — Photo tuoitrenews.vn

HCM CITY (Biz Hub) — HCM City has refunded over VND30 billion, or US$1.4 million, of value-added tax (VAT) to foreigners leaving Vietnam through the Tan Son Nhat International Airport since July 1, 2012.

According to the city's Customs Department, the sum was claimed by more than 8,000 foreigners for goods which cost nearly VND390 billion, or $18.6 million.

A majority of the goods comprised eye glasses, cosmetics, clothes, footwear, watches, computers, wallets and jewellery.

However, some problems were mentioned, including the processing time for tax refunds and the inadequate information printed on tax returns.

This prompted the Customs Department to ask the Ministry of Finance to standardise the processing time, define the concrete responsibilities of goods sellers, and organise regular training courses for the customs staff.

It has also proposed the application of a single tax refund solution across the country to make the processing of refunds easier. — VNS




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