We would like to bring you notable customs updates for October 2021 with the following highlights influencing the import-export activities:
In this issue, there are notable topics covered as following:
I. Newly-published regulations
- New list of HS codes subjecting to the scope of State management of the Ministry of Agriculture and Rural Development
- Promulgating special preferential import tariff schedule between Vietnam and Cambodia for the period of 2021-2022
II. Guidelines for export manufacturing, export processing models and export-processing enterprises (“EPEs”)
- No exemption of export duty for exported products made from imported materials
- Repurchasing the processed products to use for further export manufacturing is not exempted from Customs duty
- NO duty exemption for export-manufacturing / export-processing model in case of having no manufacturing/processing facilities
- Goods imported from EPEs under on-spot import mode and used for export-manufacturing purpose are exempted from Customs taxes
- NO import tax exemption for preliminary-destructed scrap
- The determination of waste incurred from export processing/manufacturing activity must be based on the actual manufacturing process and supporting documents
III. Some new guidances about customs procedure & customs tax policy during the period under impact of Covid-19
- No application of guidance on allowing late submission of original documents within 30 days in the case of submitting certificate of origin (C/O) to apply tariff preferences
- Tax imposition in case of having no corresponding on-spot import declaration carried out after 15 days from the approval of on-spot export declaration
- Tax exemption are only allowed to manufacturer or entrusted party in case of imported items mentioned under Decision no. 1921/QD-BTC for production of Covid-19 Test Strip
IV. Other notable guidances
- Guidance on VAT application for imported medical equipment
- Conducting post-clearance Customs audit in case of importing tires with suspicion on tariff classification
- Some guidance on certificate of self-certifying goods' origin under EVFTA
For regulation changes and tax matters, we can provide you with assistance on:
- Registration, declaration of Personal Income Tax, Corporate Tax, VAT and Foreign Contractor Tax.
- Tax refunds assistance and representation.
- Consultancy on utilizing opportunities provided by transfer pricing.
- Customs Advisory: Compliance & Reporting; FTA and C/O; Harmonised System code classification and valuation; Inventory control; International trade arrangement; and Others.
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