Is the tax-suspension warehouse owner responsible for implementing accounting policies in Vietnam?

Is the tax-suspension warehouse owner responsible for implementing accounting policies in Vietnam?

According to the provisions of Clause 2 and Clause 4, Article 63 of the Customs Law 2014, the tax-suspension warehouse owner has the following rights and obligations:

- Retain goods that are imported raw materials and supplies for the production of export goods;

- Arrange, repack, and relocate goods within the warehouse;

- Notify the customs authority in advance of the anticipated plan to use raw materials and supplies in the tax-suspension warehouse for production;

- Every three months, report in writing to the Customs Department managing the tax-suspension warehouse regarding the status of goods and the warehouse's operational activity;

- No later than January 31 each year, compile a summary of the import customs declarations and the quantities of raw materials and supplies that have been stored in the tax-suspension warehouse, as well as an aggregate of export customs declarations and quantities of goods exported in the preceding year, and submit it to the Customs Department managing the tax-suspension warehouse.

- The tax-suspension warehouse owner is responsible for implementing accounting policies, statistics, equipping with facilities, and using electronic and networked equipment for the management of goods with the customs authority to conduct customs inspection and supervision as regulated by the Customs Law.

Thus, according to the above regulations, the tax-suspension warehouse owner is obligated to implement accounting policies to conduct customs inspection and supervision as regulated by the Customs Law.

Is the tax-suspension warehouse owner responsible for implementing accounting policies in Vietnam? (Image from the Internet)

Shall the tax-suspension warehouse be within the customs area in Vietnam?

Based on Article 7 of the Customs Law 2014, the customs area includes:

- Areas at land border gates, international railway stations, international civil airports; seaports, inland ports with export, import, exit, entry, and transit activities; areas storing goods under customs supervision, export processing zones, preferential customs zones; locations for customs procedures, tax-suspension warehouses, international post offices, the headquarters of customs declarants upon post-clearance audits; locations for inspecting export and import goods within the customs territory;

- Other areas and locations meeting state management requirements, authorized for export, import, transit of goods, entry, exit, transit of vehicles as decided by the Prime Minister of the Government of Vietnam.

Thus, it can be seen that the tax-suspension warehouse must be within the customs area, facilitating customs authorities to inspect, supervise, control goods, vehicles, and handle customs law violations in accordance with Vietnamese law and international treaties to which the Socialist Republic of Vietnam is a member.

Shall goods be inspected physically at the tax-suspension warehouses in Vietnam?

Based on Article 22 of the Customs Law 2014, amended by Clause 1, Article 24 of the Law amending and supplementing a number of Articles of 37 Laws related to planning 2018, as follows:

Customs Procedure Locations

1. The customs procedure location is where the customs authority receives, registers, and inspects customs documents, and conducts physical inspections of goods and vehicles.

2. The location for receiving, registering, and inspecting customs documents is the headquarters of the Customs Department, the headquarters of the Customs Sub-department.

3. The locations for physical inspection of goods include:

a) Inspection points at land border gates, international railway stations, international civil airports; international post offices; seaports, inland ports with export, import, exit, entry, and transit activities; inland export and import ports;

b) Headquarters of the Customs Sub-department;

c) Centralized inspection locations as decided by the General Director of the General Department of Customs;

d) Inspection locations at production facilities, construction sites; venues for fairs and exhibitions;

dd) Inspection locations at tax-suspension warehouse areas, tax-suspension warehouses, consolidated cargo stations;

e) Joint inspection locations between Vietnam Customs and neighboring country customs at land border gates;

g) Other locations as decided by the General Director of the General Department of Customs when necessary.

4. Agencies, organizations, and individuals with authority in planning, designing constructions related to land border gates, international railway stations, international civil airports; seaports, inland ports with export, import, exit, entry, and transit activities; domestic export and import ports; economic zones, industrial parks, non-tariff zones and other locations with export, import, exit, entry, and transit activities are responsible for arranging customs procedure locations and places for storing export and import goods meeting customs inspection and supervision requirements according to the provisions of this Law.

Thus, according to the above regulations, one of the locations for physical inspection of goods is the tax-suspension warehouse.