What is a financial report for import and export duties in Vietnam?

What is a financial report for import and export duties in Vietnam?

Based on the regulations at Clause 1, Article 59 Circular 174/2015/TT-BTC regarding financial report for import and export duties as follows:

Article 59. Financial report for import and export duties

1. Financial report for import and export duties must be prepared in accordance with the prescribed forms. The indicators in the report must ensure consistency and logically relate to each other systematically to serve the study, analysis, and assessment of the tax collection situation and other charges for import-export goods. In cases where the General Department of Customs deems it necessary to change the indicators or information on the report to meet management requirements, such changes must be approved by the Ministry of Finance.

2. The data on the financial report must be accurate, truthful, objective, and must be compiled from the export-import tax accounting database after being checked, reconciled, and closed.

3. Financial reports must be prepared, submitted on time, and fully sent to each recipient.

Thus, the financial report for import and export duties is a report that must be prepared in accordance with the prescribed forms. The indicators in the report must ensure consistency and logically relate to each other systematically to serve the study, analysis, and assessment of the tax collection situation and other charges for import-export goods.

In cases where the General Department of Customs deems it necessary to change the indicators or information on the report to meet management requirements, such changes must be approved by the Ministry of Finance.

What is the data source of the financial report for import and export duties in Vietnam?

Based on the regulations at Clause 2, Article 59 Circular 174/2015/TT-BTC regarding financial report for import and export duties as follows:

Article 59. Financial report for import and export duties

1. financial report for import and export duties must be prepared in accordance with the prescribed forms. The indicators in the report must ensure consistency and logically relate to each other systematically to serve the study, analysis, and assessment of the tax collection situation and other charges for import-export goods. In cases where the General Department of Customs deems it necessary to change the indicators or information on the report to meet management requirements, such changes must be approved by the Ministry of Finance.

2. The data on the financial report must be accurate, truthful, objective, and must be compiled from the export-import tax accounting database after being checked, reconciled, and closed.

3. Financial reports must be prepared, submitted on time, and fully sent to each recipient.

Thus, the data on the financial report for import and export duties must be accurate, truthful, objective, and must be compiled from the export-import tax accounting database after being checked, reconciled, and closed.

What is a financial report for import and export duties in Vietnam? (Image from the Internet)

What are the responsibilities of accounting units in preparing and submitting financial report for import and export duties in Vietnam?

Based on Clause 4, Article 3 Circular 174/2015/TT-BTC explaining that the accounting unit for export-import tax is the customs units with an accounting apparatus for tax and other charges on import-export goods and preparing financial reports (referred to as the accounting unit).

The responsibilities of units in preparing and submitting financial report for import and export duties are stipulated in Article 61 Circular 174/2015/TT-BTC as follows:

- Customs Sub-departments and equivalent units, and higher-level customs units must prepare and submit financial and management reports as required by the higher management unit. They must submit the relevant reports to the State Treasury where the unit transacts to coordinate checking, reconciling, and adjusting accounting data related to state budget revenue.

- The General Department of Customs aggregates reports from higher-level customs units to report on the state budget revenue situation related to import-export tax as required by the Ministry of Finance.

- Conduct reconciliation with the State Treasury regarding data related to the state budget revenue of the entire sector.

- All cases of data adjustment on financial reports must be carried out from the accounting document preparation stage to accounting entry ensuring true reflection of all activities related to tax and other revenue operations for import-export goods of the unit.