Vietnam's Nomenclature of Exports and Imports

16:12, 17/07/2017

On June 27, 2017, the Minister of Finance of Vietnam issued Circular No. 65/2017/TT-BTC promulgating Vietnam's Nomenclature of Exports and Imports.

Vietnam's Nomenclature of Exports and Imports including two (2) Appendixes mentioned below is promulgated together with Circular No. 65/2017/TT-BTC:

- Appendix I - Vietnam's Nomenclature of Exports and Imports.

- Appendix II – Six (6) general rules explaining the classification of goods according to Vietnam's Nomenclature of Exports and imports based on the Harmonized Commodity Description and Coding System (HS) of the World Customs Organization.

Regulated entities include:

1. Exporters and importers.

2. Entities and individuals having rights and obligations related to imports and exports.

3. Customs authorities and customs officers.

4. Other State authorities cooperating in performing state management of customs activities.

Vietnam's Nomenclature of Exports and imports shall be used for introducing import and export tariffs; compiling the Lists of goods to serve the state management purposes in accordance with the Government’s regulations and regulations of the Law on Customs of Vietnam; making State’s statistical reports on imports and exports; serving the state management of good importation and exportation, and other sectors.

Circular No. 65/2017/TT-BTC of the Ministry of Finance of Vietnam takes effect from January 01, 2018.

Source: Finance Magazine

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