Application of Value-Added Tax on Letter of Credit Services

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Dear Valued Customers,

Thank you for choosing United Overseas Bank (Vietnam) Limited (“UOBV”) as your banking partner.

According to Official Letter No. 1606/TCT-DNL issued by General Tax Department dated 22 Apr 2020, Letter of Credit (L/C) is a kind of payment service, so it should be subject to Value-added tax (VAT) application.

Therefore, we are pleased to inform that from 1st June 2020, we will start applying VAT at 10% on Letter of Credit Services including but not limited to issuance, amendment, documentations handling under these services etc.

Please click here to view the Official Letter 1606/TCT-DNL from General Tax Department.

Please kindly contact your Relationship Manager or hotline +84 28 3933 1900 for further details.

Once again, thank you for banking with UOBV. We look forward to being of service to you.


Best regards, 
United Overseas Bank (Vietnam) Limited