Royal Vietnam would like to summarize important information about value added tax refund according to Official Dispatch 3745/CTYBA-TTHT and related legal instructions:

On December 17, 2024, the Tax Department of Yen Bai province received an official dispatch from Sunwell Vietnam Industrial Co., Ltd. requesting a refund of value added tax (VAT). The Tax Department responded based on current regulations:

1. Conditions for VAT refund:

• • Enterprises register to pay VAT using the deduction method.
  • Have a new investment project with accumulated undeducted input VAT of 300 million VND or more.

2. Applicable legal regulations:

• • Clause 3, Article 1 of Law No. 106/2016/QH13.
  • Clause 3, Article 1, Decree 49/2022/ND-CP.
  • Article 2 Circular 25/2018/TT-BTC.

3. Specific instructions:

• • Sunwell Company needs to separately declare the input VAT amount of the investment project on declaration form 02/GTGT.
  • After the project comes into operation, the undeducted VAT amount will be transferred to declaration form 01/GTGT ​​of production and business activities if legal conditions are met. If eligible, the tax authority will consider refunding VAT to the business.

Click here to see details of Official Dispatch 3745/CTYBA-TTHT on value added tax refund