Regulations on VAT refunds to foreigners upon exit are amended

Ministry of Finance promulgates the Circular No. 92/2019/TT-BTC amending and supplementing the Circular No. 72/2014/TT-BTC regulating refund of VAT on goods that foreigners or Vietnamese expatriates carry on exit.

The Circular No. 92 now amends and supplements six requirements for goods' eligibility for VAT refunds set out in Article 11 of the Circular No. 72 as follows:

- Firstly, as the Decree No. 187/2013/ND-CP has been invalidated since May 15, 2018 and replaced by the Decree No. 69/2018/ND-CP the list of goods prohibited for export; goods allowed for export according to export permits issued by the Ministry of Industry and Trade or goods put under specialized administration, will be subject to the Decree No. 69 from the entry into force of the Circular No. 92. 

- Secondly, with respect to purchase of goods, in order to get VAT refunds, goods must be bought at enterprises selling VAT-refunded goods, in brand-new and full-package condition and must be sold with invoices, also functioning as tax refund declaration forms, which are issued within the maximum duration of 60 days from the date of exit.

(Pursuant to existing regulations, goods must be bought in Vietnam with invoices, also functioning as tax refund declaration forms, which are issued within the maximum duration of 60 days after the date of exit).

For more details, please read through the Circular No.92/2019/TT-BTC in force from July 1, 2020.

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