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.
About 90 percent of the 32 tax-free shops and supermarkets at Moc Baiborder gate in Tay Ninh province, bordering Cambodia, have shut down dueto policy changes.
This was announced by the economic zone management board of the southwestern province.
DeputyHead of the management board Pham Van Son said these shops were closingdown as a result of changes in preferential policies and long-termbusiness losses.
For example, under Circular 109/2014/TT-BTCissued by the finance ministry, imported products in the non-tariffsections of the border gate economic zones are subject to taxes such asimport tariff and special consumption tax or value-added tax, dependingon the kind of goods.
The regulation took effect last October. The Prime Minister also signed a decision in November 2013, barringbusinesses from selling duty-free alcohol, including wine and beer, totravellers from January 2014.
Several businesses said theregulations would have huge impacts on their trade, Son said. Somebusinesses started to restrict to importing products to sell at Moc Baiborder gate and some tried to keep operating by selling the goods instock, he said.-VNA
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