The import tariff quota for sugar in 2020 auction in Vietnam is 103,000 tons

The import tariff quota for sugar in 2020 auction in Vietnam is 103,000 tons​ (Illustrative image)

According to Article 3 of Circular 26/2020/TT-BCT, the import tariff quota for sugar in 2020 auction is regulated at 103,000 tons, including:

- Import tariff quota of 72,000 tons of raw sugar.

- Import tariff quota of 31,000 tons of refined sugar.

Particularly, in Article 4 of Circular 26/2020/TT-BCT, the principles, sequence, and procedures for asset auction shall comply with the regulations of the Law on Asset Auctions suitable for the nature of auctioned assets. The Ministry of Industry and Trade of Vietnam established the Pilot Auction Council for the 2020 sugar import tariff quota to manage the auction. The Chairman of the Auction Council shall issue the Pilot Auction Regulation for the 2020 sugar import tariff quota .

Additionally, in Article 5 of Circular 26/2020/TT-BCT, the notification of the allocation of quota usage rights is regulated as follows:

- After the Auction Council's report on auction results, the Ministry of Industry and Trade shall issue a document notifying the allocation of import tariff quota usage rights to the successful bidders.

- The use of the document notifying the allocation of import tariff quota usage rights to successful bidders for customs procedures shall comply with the regulations of the Law on Customs.

Note: The above regulations apply to traders who directly use sugar as production materials and traders who use raw sugar to produce refined sugar or organizations and individuals involved in importing sugar under the 2020 import tariff quota .

For details, refer to Circular 26/2020/TT-BCT, effective from November 13, 2020.

Le Vy

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