Value-added tax refund service

Value-added tax refund is not only very meaningful for businesses but also very important for the economy.

  • VAT refund contributes to export promotion, because when exported goods enjoy a VAT rate of 0%, helping Vietnamese enterprises have conditions to compete on prices with goods on the international market;
  • VAT refund encourages enterprises to invest in production and business; encourage enterprises to expand production investment in depth;
  • VAT refund creates financial conditions for enterprises when facing difficulties in production and business activities;
  • VAT refund promotes the attraction of foreign investment capital into Vietnam, solves difficulties in capital, experience, technology, etc., contributing to deepening and deepening the integration of the economy.

Objects to be refunded value added tax

Article 18 of Circular No. 219/2013/TT-BTC stipulates 9 subjects and cases eligible for VAT refund, including:

  1. A business establishment shall pay VAT by the tax credit method if it has an input VAT that has not been fully deducted in the month (for the case of monthly declaration) or in the quarter (for the case of quarterly declaration). shall be deducted in the next period; the case of accumulating after at least twelve months from the first month or after at least four quarters from the first quarter arising the input VAT amount that has not been fully deducted but still has the input VAT amount that has not yet been deducted. After that, the business establishment is entitled to a tax refund.
  2. Newly established business establishments from investment projects already registered for business, registered to pay VAT by the deduction method, or projects of prospecting, exploration and development of oil and gas fields in the investment stage, not yet come into operation, if the investment period is from 01 year (12 months) or more, they will be refunded VAT on goods and services used for investment each year.
  3. VAT refund for new investment projects.
  4. Business establishments in the month (for the case of monthly declaration), (for the case of quarterly declaration) have exported goods or services if the input VAT on the exported goods and services has not been paid. are deducted from 300 million VND or more, they will be refunded value added tax on a monthly or quarterly basis; in case the input value-added tax amount on exported goods and services that has not yet been deducted is less than VND 300 million in a month or quarter, it shall be deducted in the following month or quarter.
  5. Business establishments that pay value-added tax by the tax credit method are entitled to a refund of value-added tax upon ownership transformation, enterprise transformation, merger, consolidation, division, separation, dissolution, bankruptcy, terminating operations with overpaid value-added tax or input value-added tax that has not been fully deducted.
  6. VAT refund for programs and projects using non-refundable official development assistance (ODA) capital or non-refundable aid, humanitarian aid.
  7. Persons entitled to diplomatic privileges and immunities according to the provisions of the law on diplomatic incentives and immunities who purchase goods and services in Vietnam for use will be entitled to a refund of the value added tax already paid on the invoice. value added or on the payment voucher write the payment price inclusive of value added tax.
  8. Foreigners and overseas Vietnamese holding passports or entry papers issued by foreign competent authorities are entitled to tax refunds for goods purchased in Vietnam and brought with them on exit. The VAT refund shall comply with the guidance of the Ministry of Finance on VAT refund for goods purchased by foreigners and Vietnamese residing overseas bought in Vietnam and brought with them when leaving the country.
  9. The business establishment has a decision on tax refund processing issued by a competent authority in accordance with law and in case of value-added tax refund under an international treaty to which the Socialist Republic of Vietnam is a contracting party.

Happy Tax provides consulting services, completing incremental tax refund records based on records and data for each specific object. Please contact Happy Tax for advice and support to use the service quickly and in a timely manner.