Taxation bodies, customs agencies, treasuries, the two chosen commercial banks and enterprises have been making hectic preparations for the implementation of the pilot plan on refunding VAT to foreigners.
From July 1, 2012, people who leave the country are reimbursed 85 percent of the VAT they have paid. The remaining 15 percent is used as service fees to pay banks that handle tax repayments.Such practice has been introduced in the world for the last tens of years, but is now put in place in Vietnam, said Hoang Viet Cuong, Deputy General Director of the General Department of Customs.
In the first two years, commencing from July 1, 2012, the tax refund will be applied only to foreigners and Vietnamese people, who settle down in foreign countries and show entry-exit documents granted by foreign countries at the two international airports of Noi Bai in Hanoi and Tan Son Nhat airports in HCM City.
According to Cuong, if the pilot program runs smoothly, Vietnam will not have to wait for two years as previously planned to begin applying the scheme in a large scale. By that time, the tax refund scale will be enlarged, and the tax refund will be carried out at many international border gates – the air, road and sea border gates.
However, experts have warned that it is no easy task to implement the tax refund because of the large number of people subject to the tax refund, with the number of foreign tourists to Vietnam increasing rapidly by 15-20 percent per annum.
Besides, the tax refund will need the close cooperation among relevant branches including customs agencies, treasuries, taxation bodies, banks and enterprises.
In the immediate time, customs agencies will take the initiative in cooperating with relevant branches to build up the customs examination and reimbursement procedures and set up necessary regulations, to ensure that the formalities will not cause inconvenience to foreigners.
Nevertheless, Cuong admitted that there always exists a big gap between the will and the implementation. Even in developed countries, which have been carrying out the tax refund scheme for the past decades such as the Republic of Korea, the US or Germany, troubles still occur.
The General Department of Customs has estimated that with six million foreigners traveling to Vietnam (in 2011), and each of them buys the goods worth US$200-300, Vietnam’s export turnover is estimated to increase by US$1.5 billion at least.
Enterprises to be chosen to sell free-duty goods to foreigners will enjoy a big profit thanks to boosting sales to foreign tourists.
In order to be chosen to sell duty-free goods, enterprises just need to have headquarters or branches, shops or agents located in Hanoi, HCM City or the handicrafts villages which are the key points in the tour routes.
Despite a lot of benefits, Vu Van Truong, Deputy General Director of the General Department of Taxation, said not many enterprises want to join the pilot program because of complicated procedures and techniques in selling duty free goods.
Vietnamnet
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