Trading Firms Granted 180-day Delay of VAT Payment

The Ministry of Finance has issued the Instruction No. 8882 to allow exporters and importers of machinery, equipment and spare parts to delay 180 days of value-added tax payments.

 

Accordingly, enterprises with importing and exporting activities in at least 365 days dating from the date of violation-free customs clearance will be granted a grace period of 180 days for VAT payment delay. Beneficiaries must not commit trade fraud, tax evasion, overdue tax debts and other business violations.

 

This grace period is applied to customs clearance made from May 1, 2009 to December 31, 2009.