On October 14th, 2024, the General Department of Taxation issued Official Letter No. 4566/TCT-KK, accordingly:
In case the company has a new investment project that commenced operations in February 2021. The company has not submitted a VAT refund application for the investment project, but instead, transfers the VAT amount of the investment project that has not been refunded to the declaration form 01/GTGT of production and business activities, if the input VAT amount of exported goods (including input VAT of investment activities, construction, and the formation of fixed assets that meet the legal regulations on investment and serve the production and business activities of export goods), after offsetting against the VAT amount payable on domestically consumed goods and services, remains at VND 300 million or more, the company is eligible for a VAT refund. The refunded VAT amount on goods and services exported must not exceed the revenue from exported goods and services multiplied (x) by 10%.
