New guidance of the Law on Import-Export Tax
04:31 07/09/2010
11 cases eligible for import-export taxes refund, 20 cases for tax exemption and 2 cases for consideration of tax exemptions are new remarkable points of the newly issued Decree No. 87/2010/ND-CP dated 13 August 2010 detailing a number of articles of the Law on Import, Export Taxes, replacing the Decree No. 149/2005/ND-CP dated 8 Dec 2005.
With regards to foreign currency which the State Bank of Viet Nam does not promulgate average exchange rate in interbank foreign exchange market, crossed exchange rate between Vietnam Dong and a number foreign currencies promulgated by the State Bank of Vietnam shall be applied to calculate import - export taxes. This principle on crossed exchange rate between US dollar and Vietnam Dong, and between US dollar and other foreign currencies also applies to foreign currencies which are not promulgated crossed exchange rates.
This Decree shall take effect from 01 October 2010.
by Lawyers of Bizconsult Law Firm