The refund is part of a tax incentive program initiated by the government of Vietnam in 2012 to boost the economy.
Only purchases made at enterprises that are part of the refund programme qualify and these enterprises should have highly visible logos and signs on display on their premises indicating that purchases made at their shops qualify for the VAT refund.
Generally most shops in the airports participate in the programme but many other business enterprises in Vietnam also participate.
The purchases must be at least VND2 million (roughly US$100) each and the visitor must present the receipts at the VAT counter refund in the airport after having the customs office at the airport inspect and certify the goods.
The amount of the refundable VAT is the amount of value-added tax recorded on invoice.
Through May more than 3,700 visitors got VAT refunds worth VND12 billion (over US$570,000).
The figures were released after the 11-month implementation of Prime Minister’s Decision No. 05/2012/QD-TTg on pilot VAT refund programme, applicable in border gates of Noi Bai International Airport and Tan Son Nhat International Airport.
