VietinBank becomes an agent for VAT refund in Con Dao

	Nearly 1,400 billion vnd tax debt can not be retrieved
	Conditions for products processed from imported minerals to enjoy a 0% VAT rate
	The State Audit: Public debts remain within the acceptable level

Illustrative photo.

VietinBank was selected to become the agent for VAT refund at Ben Dam international port, Con Dao as defined in Article 1 and Article 15 of Circular 72/2014/TT-BTC regulating conditions of banks to become agents for foreigners’ VAT refund. Besides, the State Bank of Vietnam required commercial banks to have a great capacity, credibility and effective operations to become agents for VAT refund.

Accordingly, Vietinbank is responsible for coordinating with the General Department of Vietnam Customs, the General Department of Taxation and relevant units to comply with the provisions of VAT refund for foreigners according to Circular 72 / 2014 / TT-BTC.

On April 3, 2016, Ben Dam international port, Con Dao was classified as one of the international ports that could implement VAT refund for foreigners under Circular 26/2016 / TT-BTC on February 18, 2016 of the Ministry of Finance guiding the implementation of a number of preferential policies in Con Dao and Ba Ria-Vung Tau.

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Currently, Vietinbank is the bank implementing VAT refund for foreign tourists at Tan Son Nhat international airport and Cam Ranh international airport.