Draft Resolution on the implementation of the pilot mechanism for customs clearance guarantee for exported, imported, and transited goods is currently open for public comments and is expected to take effect from January 01, 2021.
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This Resolution stipulates the pilot implementation of customs guarantees for export, import, and transit goods in the following cases:
- Export and import goods are subject to full tax payment before customs clearance or release. The guaranteed amount in this case corresponds to 110% of the total taxes that the customs declarant must pay to the customs authority.
- Goods for temporary import for re-export within the allowed retention period in Vietnam according to the provisions of the Law on Foreign Trade Management (including the extension period), except for goods listed in the category of prohibited export, prohibited import, temporarily suspended export, temporarily suspended import but allowed for business of temporary import for re-export. The guaranteed amount in this case corresponds to 110% of the total taxes that the customs declarant must pay to the customs authority.
- Goods transiting through Vietnamese territory, except for goods listed in the category of prohibited export, prohibited import, temporary suspension of export, temporary suspension of import. The guaranteed amount in this case corresponds to 110% of the total taxes that the customs declarant must pay to the customs authority.
- Import goods that are allowed to delay the submission of the certificate of origin documentation as per regulation; import goods awaiting verification results from the competent authority or organization issuing the certificate of origin from the exporting country. The guaranteed amount in this case corresponds to 110% of the total taxes due to the difference between the special preferential import tax rate and the preferential import tax rate.
- Import goods listed in the category of goods likely to cause safety concerns according to the provisions of the Law on Product and Goods Quality and required to submit state inspection results on quality before customs clearance. The guaranteed amount in this case must correspond to the value of the imported goods batch declared by the customs declarant on the customs declaration form.
According to this Resolution, the pilot implementation of customs guarantees aims to facilitate export, import, and transit goods activities, ensure state management of customs, and align with international practices, while not affecting the fulfillment of tax obligations and specialized management policies for export, import, and transit goods.
For detailed content, see HERE.
Nguyen Trinh
