Mazars in Vietnam Newsletter - Customs Update - Issue May 2021

I. Customs duty and procedure

1. New tariff under UKVFTA for the period 2021 – 2022
2. Allowing anti-dumping tax refund in case exclusion is granted after the tax has already been paid
3. Import duty refund is not allowed if the temporarily-imported goods are not recorded in accounting books
4. Releasing goods of violating importers for preservation during the waiting time of specialized management check result
5. Mandatory radioactive testing for imports being iron and steel scrap
6. Some guidelines on imported building materials

II. HS code and Goods origin

1. Denial of HS code advance ruling if any difference between the granted ruling and the actual goods
2. Guidance on “Minimal operations and processes” in determining the origin of goods

III. Registration and use of duty-free list

1. Some guidance on the registration and application of the duty-free list (“Master list”)
2. No duty exemption for goods imported as replacement of duty-free goods imported to form fixed asset of incentivized projects

IV. Contract manufacturing / toll manufacturing for export models, and business activities of export-processing enterprises (EPE)

1. New guidance on the trading activity of EPE
2. No limitation in forwarding the product of a toll manufacturing contract
3. Clarification on tax treatment in case of disposing scraps from export-manufacturing business

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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.

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