THE MINISTRY OF FINANCE

Circular No. 150/2013/TT-BTC of October 29, 2013, guiding the setting up and management of and tax refund from the value-added tax (VAT) refund fund
Pursuant to November 29, 2006 Law No. 78/2006/QH11 on Tax Administration; November 20, 2012 Law No. 21/2012/QH12 Amending and Supplementing a Number of Articles of the Law on Tax Administration and guiding documents;
Pursuant to June 3, 2008 Law No. 13/2008/QH12 on Value-Added Tax; June 19, 2013 Law No. 31/2013/QH13 Amending and Supplementing a Number of Articles of the Value-Added Tax Law and guiding documents;
Pursuant to December 16, 2002 Law No. 01/2002/QH11 on the State Budget and guiding documents;
Pursuant to the Government’s Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
At the proposal of the directors of the Legal Department and the Department of State Budget and the general directors of the General Department of Taxation and the State Treasury;
The Ministry of Finance promulgates the Circular guiding the setting up, and management of and tax refund from the VAT refund fund.
Section I
GENERAL PROVISIONS
Article 1. Scope of regulation
This Circular provides the setting up and management of the VAT refund fund (below referred to as the tax refund fund) and the refund of VAT to eligible subjects in accordance with law.
Article 2. Subjects of application
The General Department of Taxation, the Department of State Budget, the State Treasury, the tax departments of provinces and centrally run cities (below referred to as the tax departments) and the provincial-level State Treasury offices shall, within their functions and assigned tasks and in accordance with this Circular, estimate, manage and refund the tax from the tax refund fund for eligible subjects under competent agencies’ decisions.
Article 3. Principles of setting up and managing the tax refund fund
The tax refund fund is set up with sources of collected VAT on import goods. The tax refund fund may open an account for centralized management at the State Treasury with the general director of the General Department of Taxation as the account holder under the Minister of Finance’s authorization.
Section II
SPECIFIC PROVISIONS

Article 4. Estimated funding sources of the tax refund fund