New regulations on import and transfer of vehicles subject to privileges and exemptions in Vietnam

The Ministry of Finance has issued Circular No. 27/2021/TT-BTC amending and supplementing a number of articles in Circular No. 19/2014/TT-BTC dated February 11, 2014 of the Minister of Finance stipulating procedures for temporary import, re-export, destruction and transfer of cars, two-wheeled vehicles with machines of the beneficiaries of privileges and immunities in Vietnam.

Imported cars in Vietnam. Photo: Ha Phuong.

Accordingly this Circular, the Circular amends a number of regulations on conditions for temporary import, re-export, transfer and destruction of cars and motorcycles in Vietnam; procedures for granting temporary import permits for cars and motorcycles; procedures for temporary import of cars and motorcycles; procedures and tax policies for transfer of cars...

Notably, in relation to the tax policy on car transfer, Circular 27 stipulates that if the cars temporarily imported meet the transfer conditions specified in Clause 3, Article 1 of Decision 14/2021/QD-TTg dated March 26, 2021, the tax policy shall be applied at the time of registration of the new customs declaration to carry out the procedures for car transfer in Vietnam.

The level of absolute tax and mixed tax applicable to used cars transferred in Vietnam shall comply with the provisions of Appendix III of Decree 57/2020/ND-CP dated May 25, 2020 of the Government amending and supplementing a number of articles of Decree 122/2016/ND-CP dated September 1, 2016 of the Government on export tariff, preferential import tariff, List of goods and absolute tax rate, mixed tax, import tax outside tariff quota and Decree 125/2017/ND-CP dated November 16 , 2017 amending and supplementing a number of articles of Decree 122/2016/ND-CP.

The policies on excise duty and value-added tax applicable to transferred cars shall comply with the law on excise duty and value-added tax at the time of registration of the new customs declaration to carry out the procedures for transfer of cars in Vietnam.

N.Linh

Source: Customs Newspaper Online

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