Mazars in Vietnam Newsletter - Customs Update - Issue March 2021

This month newsletter will cover notable points as belows:

1. Allowing several C/Os to be declared with 01 commercial invoice
2. Exported scrap subjecting to export duty regardless of source
3. Not accepting monitoring sheet in case of late submission after Customs clearance
4. Duty-free imported machinery which has been fully depreciated still required to undergo the Customs declaration and pay tax upon liquidation
5. Announcement on website to check electronic C/O issued by Myanmar authorities
6. Guidance on tax treatment in case of exported products being re-imported but kept in Vietnam longer than the registered timeline (for re-export back abroad)
7. Packaging pre-printed with foreign origin is prohibited from import
8. Not accepting C/O with multi-nation origins
9. Form D using old form issued by Filipino authority is accepted until 31/07/2021
10. Guidance on Customs procedure and tax treatment in case local contractors import C/O construction materials for EPE customers
11. C/O Form E with back site left blank is not accepted

Our support

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.

Subscribe to our newsletter here