Foreign passengers are refunded about VND34 billion of VAT

Government proposes National Assembly consider 2% reduction in VAT in coming agenda

Foreign passengers are refunded about VND34 billion in VAT

One of the products of Duy Anh Fashion and Cosmetics Co., Ltd. is recognized for selling refunded goods to foreign customers.

According to HCM City Customs Department, in April, the department refunded VAT on goods bought by 1,390 foreigners and overseas Vietnamese on exit with a total tax refund of over VND10 billion.

In the first four months of 2023, HCM City Customs Department refunded VAT on goods carried by 4,680 foreigners and overseas Vietnamese on exit worth about VND34 billion.

The value of tax-refunded goods was over VND 414 billion. Goods eligible for tax refund were mainly clothes, shoes, bags, cosmetics, watches, personal effects, etc.

According to HCM City Customs Department, the number of passengers on entry and exit increases, so the number of passengers carrying goods on exit subject to tax refund will also surge, leading to an increase in passengers’ shopping activities.