What is the transfer of goods through border-gates? Is the direct transfer of goods from the exporting country to the importing country without going through Vietnamese border-gates considered a transfer of goods through border-gates?
- Is the direct transfer of goods from the exporting country to the importing country without going through Vietnamese border-gates considered a transfer of goods through border-gates?
- Are foreign-invested business entities entitled to conduct merchanting trader transactions in Vietnam?
- How much is the fine imposed for merchanting trade of goods on the list of goods banned or suspended from merchanting trade in Vietnam?
- Shall traders use certificates of a transshipment transaction to buy foreign currency, make payment and transfer money in many licensed banks in Vietnam?
Is the direct transfer of goods from the exporting country to the importing country without going through Vietnamese border-gates considered a transfer of goods through border-gates?
Pursuant to the provisions of Article 30 of the Law on Commercial 2005, there are regulations on transfer of goods through border-gates as follows:
Transfer of goods through border-gates
1. Transfer of goods through border-gates means the purchase of goods from a country or territory for sale to another country or territory outside the Vietnamese territory without carrying out the procedures for importing such goods into Vietnam and the procedures for exporting such goods out of Vietnam.
2. Transfer of goods through border-gates shall be conducted in the following forms:
a/ Goods are transported directly from the exporting country to the importing country without going through Vietnamese border-gates;
b/ Goods are transported from the exporting country to the importing country through Vietnamese border-gates without carrying out the procedures for importing them into Vietnam and the procedures for exporting them out of Vietnam;
c/ Goods are transported from the exporting country to the importing country through Vietnamese border-gates and brought into bonded warehouses or areas for transshipment of goods at Vietnamese ports without carrying out the procedures for importing them into Vietnam and the procedures for exporting them out of Vietnam.
3. The Government shall provide for in detail activities of transfer of goods through border-gates.
Thus, transfer of goods through border-gates shall be conducted in the above mentioned forms.
Goods are transported directly from the exporting country to the importing country without going through Vietnamese border-gates.
Is the direct transfer of goods from the exporting country to the importing country without going through Vietnamese border-gates considered a transfer of goods through border-gates? (Image from the Internet)
Are foreign-invested business entities entitled to conduct merchanting trader transactions in Vietnam?
Pursuant to the provisions of Clause 2, Article 18 of Decree 69/2018/ND-CP, there are regulations on merchanting trade transactions as follows:
Merchanting trade
1. A Vietnamese trader is entitled to conduct merchanting trade transactions as follows:
a) The trader must obtain the license for merchanting transaction issued by the Ministry of Industry and Trade if the goods to be temporarily imported are included in the list of prohibited or suspended exports and imports, goods not be freely sold and used in Vietnam; goods subject to export and import quotas, tariff-rate quotas or requiring export or import licenses, except for automatic export or import license. If the goods move from the exporting country to the importing country, without entering the Vietnam’s checkpoints, the trader is not required to obtain a license for merchanting trade.
b) If the goods are not mentioned in Point a Clause 1 hereof, the trader is not required to obtain a license for merchanting trade issued by the Ministry of Industry and Trade.
2. Foreign-invested business entities may not conduct merchanting trader transactions.
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Therefore, foreign-invested business entities may not conduct merchanting trader transactions.
How much is the fine imposed for merchanting trade of goods on the list of goods banned or suspended from merchanting trade in Vietnam?
Pursuant to the provisions of Clause 3, Article 21 of Decree 128/2020/ND-CP, offences against regulations on transit and merchanting trade of goods include:
Offences against regulations on transit and merchanting trade of goods
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3. A fine ranging from VND 60,000,000 to VND 80,000,000 shall be imposed for merchanting trade of goods on the list of goods banned or suspended from merchanting trade.
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This fine is applied to violating organizations (Pursuant to Clause 3, Article 5, Decree 128/2020/ND-CP).
A fine ranging from VND 60,000,000 to VND 80,000,000 shall be imposed for merchanting trade of goods on the list of goods banned or suspended from merchanting trade
Shall traders use certificates of a transshipment transaction to buy foreign currency, make payment and transfer money in many licensed banks in Vietnam?
Responsibilities of traders participating in goods transshipment are specified in Article 5 of Circular 02/2020/TT-NHNN specifically:
- Present certificates according to regulations of licensed banks while buying foreign currency, making payment and transferring money serving goods transshipment and be legally responsible for accuracy and honesty of all documents and certificates presented to licensed banks.
- Provide information about income received from contracts for selling goods to enable licensed banks to list and monitor money transfer and receipt figures in the same transshipment transaction and be legally responsible for accuracy and honesty of all information provided to licensed banks.
- Stringently comply with this Circular and relevant law provisions.
- Do not use certificates of a transshipment transaction to buy foreign currency, make payment and transfer money in many licensed banks.
Thus, traders participating in goods transshipment are specified as above.
Therefore, traders participating in goods transshipment do not not use certificates of a transshipment transaction to buy foreign currency, make payment and transfer money in many licensed banks.
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