Vietnam: Notes on temporary import for re-export and border-gate transfer of petrol and oil and raw materials

Vietnamese traders trading petroleum in the Vietnamese market conducting temporary import for re-export and border-gate transfer of petrol and oil and raw materials must pay attention to the provisions of Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam, specifically as follows:

- Only traders that possess petrol and oil import and export licenses may conduct temporary import for re-export and border-gate transfer of petrol and oil and raw materials.

- Traders that wish to sell petrol and oil to the entities prescribed at Point a, Clause 5, Article 35 of Decree No. 83/2014/NĐ-CP of Vietnam’s Government shall register the business line of supplying aviation fuel. Traders that wish to sell petrol and  oil to the entities prescribed at Point b, Clause 5, Article 35 of Decree No. 83/2014/NĐ-CP shall register the business line of providing ocean shipping services, or shall sell petrol and oil through ocean shipping companies being supply agents.

- The duration of storage in Vietnam of petrol and oil and raw materials temporarily imported for re-export must comply with Article 11 of Decree No. 187/2013/NĐ-CP of Vietnam’s Government.

- Traders may temporarily import petrol and oil and raw materials in large batches and re-export them in whole batches or in smaller batches from their domestic depots with the quantities and kinds of the temporarily imported petrol and oil and raw materials.

- Traders that conduct temporary import for re-export and border-gate transfer of petrol and oil and raw materials may sell on the domestic market the volumes of petrol and oil not re-exported or not fully re-exported after fulfilling all tax and financial obligations, including late payment interests (if any), and shall comply with current regulations on the quality of petrol and oil imported and circulated on the domestic market.

View full text at Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam, effective from November 01, 2014.

Thu Ba

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