Vietnam Regulatory Update

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1.  The Decision No. 04/2012/QĐ-TTg of the Prime Minister on extending for 03 months more the payment of corporate income tax (CIT) which small and medium enterprises, and enterprises using many laborers must pay for the first and second quarters of 2011.

  • Enterprises which were extended tax payment according to the Decision No. 21/20111/QD-TTg dated April 06th, 2011 and the Decision No.54/2011/QĐ-TTg dated October, 11th, 2011 will be extended to pay corporate income tax for 03 months more.
  • The extended periods are stipulated as follows:
  • The payment of provisional corporate income tax of first quarter of 2011 will be extended until July 30th, 2012;
  • The payment of provisional corporate income tax of second quarter of 2011 will be extended until October 30th, 2012.
  • This Decision takes effect from March 10th, 2012.

2.  Decision No. 05/2012/QD-TTg dated January 19, 2012 issued by The Prime Minister to implement a pilot project allowing VAT refunds for foreigners departing Vietnam from Noi Bai and Tan Son Nhat international airports.

  • Foreigners eligible for VAT refund as prescribed in this Decision are:
  • People have passports which are not issued by Vietnam State Agencies;
  • People who are not crew members on the flights from Vietnam to foreign countries.
  • The VAT-refunded goods under the provisions of this decision must satisfy the following conditions:
  • They are unused goods which have been subject to VAT and are allowed to be carried on flights in accordance with aviation security and safety regulations;
  • They do not fall into the list of goods subject to export prohibition or restriction;
  • Invoices are issued within 30 days prior to departure; and
  • Total value of goods purchased at one store in one day is at least VND two million.
  • The refund only applies to goods purchased from companies which register with, and are approved by, the Ministry of Finance to sell goods entitled to VAT refund.
  • The VAT refund application and the relevant goods will be reviewed/checked by customs officers at the airport. After the application is approved, the VAT will be refunded by commercial bank booths located inside the airport.
  • Foreigners claiming VAT refund will be charged a fee not exceeding 15% of the refunded amount.
  • The pilot project will be effective from July 1st, 2012 to June 30th, 2014.


  1. Circular No. 190/2011/TT-BTC dated December 20, 2011 issued by the Ministry of Finance guiding the declaration form, appendix for non- commercial export, import goods and mode of printing, distribution, management and using of the declaration form, appendix declaration for non-commercial export, import goods
  • The sample of declaration for non-commercial export, import goods (denoted as HQ/2011-PMD) and appendix for non-commercial export, import goods (denoted as PLHQ/2011-PMD) are issued within this Circular.
  • The declarant may declare directly on the declaration/appendix, or declare according to the standard format of the declaration/appendix on the computer and then print the content of the declaration (HQ/2011-PMD) and the appendix (PLHQ/2011-PMD)
  • The declarant when declaring directly on the declaration, appendix and the customs officers when signing the number of declaration, confirming the results of inspection of goods and signing the name on the declaration are used only one type of ink, do not use the red ink, pencil or ink that easily fades or does not clearly declare the content; no erasures are allowed; no repairing for registered, declared information on the declaration and appendix.
  • This Circular takes effect from March 01st, 2012

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