- Bank transfer for export VAT purposes means money is transferred from the importer’s bank account to the exporter’s bank account in line with the contract and banking rules.
- Acceptable proof is the exporter’s bank credit advice showing receipt of funds from the importer’s bank account.
- If the foreign buyer pays an entrusted export party directly, that party must have bank payment documents and the arrangement must be stated in the contract.
- If the exporter is paid by a Vietnamese company instead of directly by the foreign importer, the bank payment condition is not met for input VAT deduction/refund on exported goods and services.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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