Vietnam’s new regulation on customs valuation by customs authorities

08:15, 10/09/2019

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, customs authorities shall determine the customs value in the following cases:

- The customs declarant could not determine the customs value by using the methods prescribed in Circular No. 39/2015/TT-BTC;

- There is enough evidence/basis to reject the declared customs value;

- There is evidence to conclude that the declarant’s declared customs value is unsuitable.

Customs authorities shall determine customs value based on the rules and procedures for applying valuation methods, customs value databases and related documents as prescribed.

Customs authorities shall carry out inspection and process discounts within 05 business days starting from the date of receipt of the complete dossier as prescribed.

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

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