On February 05, 2007, the Ministry of Finance issued Circular 10/2007/TT-BTC providing guidance on financial policies and customs procedures applicable to Phu Quoc Island and the Nam An Thoi island cluster, Kien Giang Province.
Circular 10: Special Consumption Tax Policy for Phu Quoc Island (Illustration Image)
Circular 10/2007/TT-BTC specifically regulates the special consumption tax policy for goods and services applied in Phu Quoc Island and the Nam An Thoi island cluster, Kien Giang province as follows:
- Goods and services subject to special consumption tax, which are produced and consumed within the tax-free zone or imported from abroad into the tax-free zone and vice versa, are not subject to special consumption tax. Except for cars under 24 seats, which are subject to special consumption tax according to current general regulations.- Goods and services subject to special consumption tax, exported from inland Vietnam into the tax-free zone, are not subject to special consumption tax. Except for cars under 24 seats, which are subject to special consumption tax according to current general regulations.- Goods and services subject to special consumption tax, transferred from the tax-free zone to or sold to export processing zones and vice versa, are not subject to special consumption tax.- Goods subject to special consumption tax, imported from the tax-free zone into inland Vietnam, are subject to special consumption tax for imported goods according to current regulations.
For details, see Circular 10/2007/TT-BTC effective from March 7, 2007.
Ty Na
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