Pilot VAT refund for goods purchased by foreigners in Vietnam

On 12/4/2012, Ministry of Finance issued circular 58/TT-BTC, providing  guidance on the implementation No. 05/2012/QĐ-TTg dated 19/1/2012 about the pilot VAT refund for goods purchased by foreigners in Vietnam leaving through Noi Bai International and Tan Son Nhat International Airport.
On 28/5/2012, Ministry of Finance issued No.1317/QĐ-BTC of the correction Circular  58/2012/TT-BTC dated  12/4/2012by Ministry of Finance
This document takes effect from July 1^st, 2012 to June 30^th, 2014
Thus, VAT refunded goods must satisfy four conditions as following:
- Subject to VAT, unused and allowed on the aircraft;
-  Goods is not on the list of export prohibitions or restrictions;
- There are invoices and refund declaration issued within 30 days from the date of departure;
-  Value on the invoice and VAT refund declaration bought at a store at minimum of 2 million in a day.
The refunded amount is at 85% of the total amount of VAT of goods eligible for tax refund brought by foreigners to the airport when leaving through Noi Bai international airport or Tan Son Nhat international airport.   The remaining 15% is tax refund service fee of commercial banks. The tax refund currency is Vietnam dong.
If foreigners have request to transfer refund from Vietnam dong into foreign freely convertible currencies, the commercial banks will sell foreign currency to foreigners according to the law. Exchange rates depend on rate of commercial banks notice at the time of conversion and in compliance with the rules of the State Bank of Vietnam.
VAT refund for foreigners are  processed immediately after the foreigners complete procedures for invoice inspection and VAT refund declaration before flight hours of at Noi Bai or Tan Son Nhat international airport.
Check out:
Full Circular 58/2012/TT-BTC dated 12/4/2012 by Ministry of Finance (Vietnam)
Full No. 1317/QĐ-BTC  dated 28/5/2012  (Vietnam)