The Ministry of Finance issued Circular 94/2010/TT-BTC dated 30 June 2010 providing procedures for temporary refund of VAT for exports goods when the enterprises have not obtained the bank payment vouchers.
According to Circular 94/2010/TT-BTC, in case of goods factually exported but for which payment has not yet been made by the customer, an exporting enterprise may sti ll apply for a refund of the relevant input VAT. Particularly, Circular 94/2010/TT-BTC enables a qualified enterprise to receive 90% of the requested VAT refund after 07 working days from the date of receipt of valid VAT refund application (with the commitment of later submission of bank payment vouchers). No later than 05 working days after the payment schedule per the export contract, the exporting enterprise must
submit the bank payment vouchers for the refund of the remaining 10% amount. In case of failure to submit the bank payment vouchers, the exporting enterprise is subject to the recollection of the refunded VAT and penalties.
This Circular takes effect after 45 days of its signing
ĐPT
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