 Foreign tourists seek information about VAT refunds at a customs counter at A draft circular introduced by the Ministry of Finance will offer foreign visitors better access to value-added tax refunds by opening more airport refund booths and duty-free shops. The booths will open at Danang airport, Such booths currently provide VAT refunds at The booths will be operated by local commercial banks. The ministry is also seeking to lift certain requirements that a business must meet in order to sell tax-free goods to foreign tourists such as a presence in The draft circular would give tourists 60 days (rather than the current 30) from the date of purchase to recoup taxes. Under current regulations, goods eligible for the tax refunds must be brand new and worth at least VND2 million (US$95). According to As of February, 8,628 visitors who purchased VND425 billion ($20 million) worth of goods received VAT refunds of more than VND32.9 billion ($1.55 million). Over 7.5 million international tourists visited |
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Article 8
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