Vietnam: Methods for determination of selling price of goods at exporting checkpoint

According to Circular No. 60/2019/TT-BTC of the Ministry of Finance of Vietnam, the selling price of goods at exporting checkpoint includes the selling price stated in the goods sale contract or commercial invoices and expenses related to exported goods at exporting checkpoint matching relevant documents if these expenses are not included in the selling price. These expenses shall be calculated for each type of exported goods. In case a shipment contains different types of goods but the expenses of each type of goods are not yet calculated, such expenses shall be apportioned via one of the following arrangements: by selling price of each type of goods; by weight or volume or quantity of each type of goods.

Specifically, methods for determination of selling price of goods at exporting checkpoint are specified in Circular No. 60/2019/TT-BTC as follows:

Firstly, methods for determination of selling price of goods at exporting checkpoint are as follows:

- For exported goods delivered to the exporting checkpoint: the selling price of goods at the exporting checkpoint includes the selling price stated in the goods sale contract or commercial invoices and expenses related to such exported goods at the exporting checkpoint matching relevant documents if these expenses are not included in the selling price.

- For exported goods not delivered to exporting checkpoint:

+ If the place of delivery is outside of Vietnam’s territory, the selling price of goods at exporting checkpoint shall be determined based on the selling price stated in the goods sale contract or commercial invoices exclusive of international insurance cost (I, if any) and international freight cost (F) for transportation from exporting checkpoint to place of delivery;

+ If the place of delivery is in Vietnam’s inland area, the selling price of goods at exporting checkpoint shall be determined based on the selling price stated in the goods sale contract or commercial invoices inclusive of the following expenses:

• Inland freight costs and expenses related to transportation of exported goods from place of delivery to exporting checkpoint, including expenses of goods consolidation, rent of warehouses and storage yards, goods loading and unloading during the whole delivery period;

• Costs of insurance for exported goods covering from place of delivery to exporting checkpoint (if any);

• Other costs related to exported goods incurred during transportation from place of delivery to exporting checkpoint (if any).

Secondly, documents for this method of customs valuation include (01 copy for each):

- Goods sale contract or commercial invoice;

- Documents related to expenses of exported goods at exporting checkpoint (if any);

- Other documents related to the selling price of exported goods at the exporting checkpoint (if any).

View relevant provisions 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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