Temporary suspension of business temporarily importing and re-exporting Monazite ore and concentrate from May 13, 2024 in Vietnam
When shall the business of temporary import and re-export of Monazite ore and concentrate be temporarily suspended in Vietnam? - Mr. Hoa (Ha Noi)
Temporary suspension of business temporarily importing and re-exporting Monazite ore and concentrate from May 13, 2024 in Vietnam
On March 29, 2024, the Minister of Industry and Trade issued Circular 05/2024/TT-BCT regulating the temporary suspension of business activities related to the temporary import and re-export of Monazite ore and concentrate.
The temporary suspension of business activities related to the temporary import and re-export of Monazite ore and concentrate (under group 26.12, HS code 2612.20.00) is implemented based on regulations of the Circular 05/2024/TT-BCT.
The applicable entities include:
- Traders engaged in the business activities of temporary import and re-export of Monazite ore and concentrate.
- Relevant agencies, organizations, and individuals involved in the business activities of temporary import and re-export of Monazite ore and concentrate.
Temporary suspension of business temporarily importing and re-exporting Monazite ore and concentrate from May 13, 2024 in Vietnam - image from internet
What are cases in which the importation code of enterprises in Vietnam shall be revoked?
Pursuant to Clause 2 Article 28 of the Decree 69/2018/ND-CP, the importation code of enterprises in Vietnam shall be revoked in following cases:
- The enterprises falsified that it had met all conditions as prescribed in the Decree 69/2018/ND-CP.
- The enterprises fail to maintain conditions prescribed in this Decree while using the temporary importation code.
- The enterprises fail to pay extra amount to the bond within 30 days from the date on which the Ministry of Industry and Trade gives a notice as prescribed in Clause 2 Article 30 of the Decree 69/2018/ND-CP.
- The enterpries fail to comply with the request made by the competent authority in terms of regulation of temporarily imported goods prescribed in Article 14 of the Decree 69/2018/ND-CP.
- The enterprises trade in temporary importation without any license for temporary importation issued by the Ministry of Industry and Trade as prescribed.
- The enterprises trade in temporary importation of goods prohibited or suspended from temporary importation.
- The enterprises refuse obligation under the signed import contract against shipments arrived at the port or Vietnam’s checkpoint.
- The enterprises bring temporarily-imported goods into local market without any permission.
- The enterprises break the customs seal as to temporarily-imported goods without any permission.
What is the period of revocation of temporary importation code of enterprises in Vietnam?
Pursuant to Clauses 3 and 4, Article 28 of the Decree 69/2018/ND-CP stipulating revocation of temporary importation code:
Revocation of temporary importation code
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3. Enterprises having their temporary importation codes revoked prescribed in Points a, b, c, d, dd, h, I Clause 2 hereof may not be reissued with other temporary importation codes within 2 years from the date of revocation.
4. Enterprises having their temporary importation codes revoked prescribed in Points e, g Clause 2 hereof may not be reissued with any temporary importation code.
As regulated above, the period of revocation of temporary importation code of enterprises in Vietnam is stipulated as follows:
- 2 years from the date of revocation for following cases:
+ The enterprises falsified that it had met all conditions as prescribed in this Decree.
+ The enterprises fail to maintain conditions prescribed in this Decree while using the temporary importation code.
+ The enterprises fail to pay extra amount to the bond within 30 days from the date on which the Ministry of Industry and Trade gives a notice.
+ The enterpries fail to comply with the request made by the competent authority in terms of regulation of temporarily imported goods.
+ The enterprises trade in temporary importation without any license for temporary importation issued by the Ministry of Industry and Trade as prescribed.
+ The enterprises bring temporarily-imported goods into local market without any permission.
+ The enterprises break the customs seal as to temporarily-imported goods without any permission.
- Ineligible for reissuance of temporary importation code of enterprises in Vietnam for following cases:
+ Trades in temporary importation of goods prohibited or suspended from temporary importation.
+ Refuses obligation under the signed import contract against shipments arrived at the port or Vietnam’s checkpoint.
What are cases of suspending validity of temporary importation code of enterprises in Vietnam?
Pursuant to Article 29 of the Decree 69/2018/ND-CP stipulating regulations on suspending validity of temporary importation code:
Suspending validity of temporary importation code
1. The Ministry of Industry and Trade shall consider suspending validity of temporary importation code obtained by an Enterprise having its violation investigated by the specialized agency as prescribed in this Decree or at the request of such specialized agency.
2. The temporary importation code shall have its validity period suspended within 3 month, 6 month or 1 year as the case may be or at the request of the specialized agency.
As regulated above, the validity of temporary importation code of enterprises in Vietnam shall be suspended when the specialized agency investigates their violation.
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