Vietnam’s value-added tax (VAT) refunds totaled VND111.73 trillion ($4.25 billion) as of August 11, up 32% from the same period last year and equivalent to 64.4% of the full-year 2026 target, according to data from the Tax Department.

During the period, tax authorities issued 11,627 VAT refund decisions, up 9% year-on-year in number. The accelerated refund process is expected to help businesses recover capital more quickly, improve cash flow and secure additional resources for production, business activities and exports.

Tax authorities are seeking to improve the timeliness of refund processing. The proportion of VAT refund applications resolved within the statutory deadline is targeted to increase from 78% to 90% this year.

The measures are part of ongoing efforts to streamline tax administration and provide greater financial support to businesses, particularly exporters, by improving the speed and efficiency of VAT refunds.