Vietnam: 06 methods for customs valuation applicable to imported goods

18:46, 02/09/2019

Recently, the Minister of Finance of Vietnam has issued Circular No. 60/2019/TT-BTC amending a number of Articles of Circular No. 39/2015/TT-BTC on customs value of exported goods and imported goods.

According to Circular No. 60/2019/TT-BTC of the Ministry of Finance of Vietnam, there are 06 methods for customs valuation applicable to imported goods:

Phương pháp xác định trị giá hải quan đối với hàng hóa nhập khẩu

- Transaction value of imported goods;

- Transaction value of identical imported goods;

- Transaction value of similar imported goods;

- Deductible value;

- Computed value;

- Deductive method.

Besides, customs valuation applicable to imported goods must comply with the following rules:

- The customs value of imported goods is the actual price of goods at the first importing checkpoint, determined by applying the valuation methods prescribed above from transaction value of imported goods to deductive method in succession until the customs value is determined;

- If the customs declarant submits a request in writing, the method based on deductible value and the method based on computed value are interchangeable;

- The customs value must be determined based on documents and objective and quantifiable data.

View details at Circular No. 60/2019/TT-BTC of the Ministry of Finance of Vietnam, effective from October 15, 2019.

Thu Ba

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