Latest answer of the General Department of Taxation of Vietnam regarding VAT refunds

10:00, 11/02/2017

Recently, the General Department of Taxation issued Official Dispatch No. 373/TCT-KK to address the issues related to value-added tax (VAT) refunds for taxpayers who have accumulated 12 consecutive months of unutilized VAT credits. According to this Official Dispatch:

- Businesses shall be eligible for VAT refunds according to Vietnam’s regulations if:

+ They have accumulated VAT credits that have not been fully utilized before the tax calculation period of July, 2016 or before the tax calculation period of the third quarter of 2016; and

+ They meet the refund conditions specified in Clause 1 Article 18 of Circular No. 219/2013/TT-BTC of the Ministry of Finance of Vietnam.

- Businesses shall not be eligible for VAT refunds if:

+ In the tax declaration for the period of June, 2016 or the second quarter of 2016, they did not request a refund for the accumulated input VAT credits that were not fully utilized; and

+ They have already deducted the input VAT credits from the VAT payable for the tax calculation period of July, 2016 or the third quarter of 2016.

More details can be found in Official Dispatch No. 373/TCT-KK issued on February 06, 2017.

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