Vietnam Exempt the VAT on the Goods Entering to Port Economic Zone

Recently, Vietnam Ministry of Finance makes announcement to carry out the financial system in the port economic zone. According to the financial system, Vietnam will implement zero-tariff on the goods and service for sale entering from Vietnam domestic to the non-tariff area of port economic zone, or entering from other function area of port economic zone to non-tariff area.

From August 17, 2009, Vietnam will take inspection on ten kinds of goods and service before the VAT refund. Those ten kinds of goods and service include beer, beverage, alcohol, alcoholic beverages, cigarette, power-assist vehicle, soap and shampoo etc.