INPUT VAT REFUND POLICIES FOR EXPORTED GOODS AND SERVICES: PRESENT POSITION AND RECOMMENDATIONS

Abstract

The policy of refunding input value-added tax on exported goods and services aids in boosting Vietnam’s export operations and decreasing product prices. This results in more internationally competitive goods and services, and a rise in annual export turnover. Recent years have seen significant improvements in the regulations governing input value-added tax returns for exported goods and services, as well as the conditions and procedures controlling tax refunds. The regulations governing input value-added tax refunds for exported products and services have been amended several times to align with the pace of socio-economic development and international integration. However, these amended regulations have some unrealistic aspects and limitations that need to be addressed. This article provides an analysis of the current status of the input value-added tax refund policy for exported goods and services to identify areas that require improvement. Additionally, the article proposes recommendations that can potentially enhance the policy’s effectiveness and efficiency for the future.