About 90 percent of the 32 tax-free shops and supermarkets at Moc Bai border gate in Tay Ninh province, bordering Cambodia, have shut down due to policy changes.
This was announced by the economic zone management board of the southwestern province.
Deputy Head of the management board Pham Van Son said these shops were closing down as a result of changes in preferential policies and long-term business losses.
For example, under Circular 109/2014/TT-BTC issued by the finance ministry, imported products in the non-tariff sections of the border gate economic zones are subject to taxes such as import tariff and special consumption tax or value-added tax, depending on the kind of goods.
The regulation took effect last October.
The Prime Minister also signed a decision in November 2013, barring businesses from selling duty-free alcohol, including wine and beer, to travellers from January 2014.
Several businesses said the regulations would have huge impacts on their trade, Son said. Some businesses started to restrict to importing products to sell at Moc Bai border gate and some tried to keep operating by selling the goods in stock, he said.-VNA
This was announced by the economic zone management board of the southwestern province.
Deputy Head of the management board Pham Van Son said these shops were closing down as a result of changes in preferential policies and long-term business losses.
For example, under Circular 109/2014/TT-BTC issued by the finance ministry, imported products in the non-tariff sections of the border gate economic zones are subject to taxes such as import tariff and special consumption tax or value-added tax, depending on the kind of goods.
The regulation took effect last October.
The Prime Minister also signed a decision in November 2013, barring businesses from selling duty-free alcohol, including wine and beer, to travellers from January 2014.
Several businesses said the regulations would have huge impacts on their trade, Son said. Some businesses started to restrict to importing products to sell at Moc Bai border gate and some tried to keep operating by selling the goods in stock, he said.-VNA
