As of June 1, foreign travelers will receive
VAT refunds for the goods they have purchased in Vietnam when leaving the
country via Hanoi's Noi Bai or Ho Chi Minh City's Tan Son Nhat airports.
Under
this pilot scheme launched by the Prime Minister, any foreigner leaving Vietnam
with an invoice worth at least VND2 million ($95.2) can claim VAT refunds at
the two major terminals, says the Ministry of Finance in its newly-issued
circular for implementation of the scheme.
Foreign
tourists are entitled to receive 85 per cent of the total VAT in Vietnamese
dong, while the remaining 15 per cent will be given to selected commercial
banks as VAT refund fees for their handling of the tax repayments.
If they
want to convert their refunds into another currency, tourists can conduct the
transaction at the exchange rate listed at the time of the exchange.
Foreigners
wishing to receive the refunds are required to present to the banks in charge
their boarding card and invoice cum VAT refund declaration form approved by the
customs agencies prior to their boarding.
Tuoi
Tre
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