Legal Counselling

Vietnam: Requirements applied to banks coordinating in tax/fee collection

18:10, 07/12/2015

The Ministry of Finance of Vietnam issued Circular No. 184/2015/TT-BTC on procedures for declaration, customs guarantees, collection and payment of custom duties, late payment interests, fines, fees/charges, and other amounts payable exported, imported goods, transited goods, and inbound, outbound vehicles.

According to Circular No. 184/2015/TT-BTC of the Ministry of Finance of Vietnam, a coordinating bank must satisfy the following requirements:

1. The Core Banking system has been developed.

2. The bank’s information technology system meets requirements for round-the-clock connection and interchange of information with customs e-payment gateway, and conditions for safety and security.

3. The bank’s information technology system may perform tax collection both at the counter and via electronic transactions.

4. Ensure sufficient equipment, technical facilities, and personnel; strictly comply with rules, procedures, and responsibilities in terms of cooperation in tax collection and e-customs guarantees.

In case the bank, because of its particular features, has not satisfied requirements as prescribed above, the General Department of Customs shall request the Ministry of Finance (in writing) to consider on a case-by-case basis according to rules of ensuring safety, security, fair and effectiveness.

View details at Circular No. 184/2015/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2016.

- Ngoc Duyen -

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