On January 22nd, 2025, the General Department of Taxation issued Official Letter No. 367/TCT-CS, accordingly:
In case a business establishment, within a month (for monthly tax declarations) or quarter (for quarterly tax declarations), has exported goods and services with undeducted input value-added tax of VND 300 million or more, the value-added tax will be refunded monthly or quarterly; in case in a month or quarter, the undeducted input value-added tax is less than VND 300 million, it will be deducted in subsequent month or quarter.
A business establishment has both exported goods and services and domestically sold goods and services within a month or quarter, the business must separately account for input value-added tax used for the production and business activities of exported goods and services. In case separate accounting is not possible, the input value-added tax amount of exported goods and services is determined according to the proportion between the revenue of exported goods and services to the total revenue of goods and services for value-added tax declaration periods from the tax declaration period following the previous tax refund period up to the current tax refund request period.
The input value-added tax amount of exported goods and services (including input value-added tax amount that can be accounted for separately and input value-added tax that is allocated according to the above ratio) if after offsetting with the value-added tax amount payable on domestically consumed goods and services, the remaining amount is VND 300 million or more, the business establishment will be refunded for exported goods and services. The refundable value-added tax amount of exported goods and services shall not exceed the revenue of exported goods and services multiplied (x) by 10%.
The input value-added tax already determined for exported goods and services that is eligible for deduction but has not been deducted, or eligible for refund but has not been requested for refund of the previous tax refund period shall be transferred to the subsequent tax period to determine the value-added tax refund amount of exported goods and services in the subsequent tax refund period if the prescribed conditions are met.
