What is Special Consumption Tax Refund?

A Special Consumption Tax (SCT) refund is a reimbursement that taxpayers can receive if they have overpaid SCT, provided they meet the conditions set by law. Unlike an SCT deduction, where previously paid SCT is offset against future tax liabilities, a refund involves receiving a direct reimbursement of the overpaid amount.

Cases Eligible for Special Consumption Tax Refund

Businesses can apply for an SCT refund under the following conditions:

  • Goods Temporarily Imported and Re-exported: If goods are temporarily imported into Vietnam and then re-exported, they may qualify for an SCT refund.

  • Imported Raw Materials for Export Production: Imported raw materials used for manufacturing or processing goods intended for export are eligible for an SCT refund.

  • Overpaid Tax in Business Transactions: Businesses involved in processes like mergers, splits, separations, dissolutions, bankruptcies, changes in ownership, transfers, sales, or leasing of state-owned enterprises that have overpaid SCT can request a refund of the excess amount.

  • Refunds Based on Legal Provisions or International Treaties: Refunds are also applicable when the amount of SCT paid exceeds the amount due as per regulations or international treaties to which Vietnam is a party.

Why is Special Consumption Tax Refund Important?

In a competitive and complex business environment, effective financial management and budget optimization are crucial for maintaining and enhancing business performance. KMC’s SCT refund services are designed to help clients optimize budgets, manage cash flow efficiently, and improve overall financial performance. Our expert team simplifies the complex processes associated with SCT refund requests, ensuring timely and accurate refunds.

KMC’s Special Consumption Tax Refund Services:

  • Consultation on Document Completion: We guide businesses in preparing and completing SCT refund applications, ensuring compliance with legal requirements.
  • Preparing Refund Applications: Our team prepares all necessary documentation and submits it for business review and approval before filing with tax authorities.
  • Clarifying Inquiries: We address any questions businesses may have about the refund process, providing clear and transparent answers.
  • Supporting Explanations:If requested by tax authorities, we assist businesses in explaining issues related to accounting records and invoices in detail.
  • Monitoring and Expediting the Process: We closely monitor the refund application process, expedite it, and keep businesses informed about the status of their applications.

Why Choose KMC for Special Consumption Tax Refund Services?

KMC stands out for its expertise and dedication in managing Special Consumption Tax refunds. We streamline the entire refund process, ensuring that your applications are accurate and compliant with legal requirements. Our experienced team provides personalized support, clarifying any queries and assisting with detailed explanations when needed. We monitor and expedite the refund process, keeping you informed every step of the way. By choosing KMC, you benefit from our commitment to maximizing your refund efficiently and effectively, helping you maintain optimal cash flow and financial performance.

For expert assistance with your Special Consumption Tax refund, reach out to KMC today. Our team is ready to provide the support you need to navigate the refund process smoothly.

Other Services

Accounting Advisory

KMC provide professional initial accounting and tax registration services, you shall not bother about issues related to tax and accounting after post license. Our team with high expertise and many years experiences will support and accompany you.

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Transfer pricing refers to the rules and methods for pricing transactions between related entities, typically within multinational companies. Currently, regulations on compliance of transfer pricing are very complexly and strictly.

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Besides Accounting, Taxation, Business Services, etc. KMC also has efforts to provide other services to Clients related to business activities of the enterprises in Vietnam.