Tax agencies issued decisions refunding value added tax (VAT) to businesses totaling over VND56.5 trillion ($2.38 billion) in the first half of 2023, according to the General Department of Taxation.

The figure is equal to 30.4 per cent of estimated VAT refunds for the year as a whole and 87 per cent of the figure in the first half of last year.

Over VND45.6 trillion ($1.9 billion) was refunded to export businesses, or 80.6 per cent, and more than VND10.7 trillion ($451 million) to investment projects.

Of the 5,280 businesses that received refunds, 5,247, or 99 per cent, had received e-tax refunds as of June 21. Tax agencies had handled 7,675 e-tax refund files in total and refunded more than VND56 trillion ($2.36 billion).

E-tax refunds have been applied since 2016 to help save time and cost for taxpayers.