New regulations on import-export tax

VCN- The Government has recently issued Decree 122/2016/ ND-CP regulating preferential import and export tax; the list of goods, the absolute tax rate, the mixed tax, and import tax instead of quota. Accordingly, the new tariff will have many changes in the rate of import tax and export tax of specific commodities. There are 4 […]

Customs proposes Ministry of Science and Technology to remove problems on the import of used machinery and equipment

VCN- Decision 18/2019/QD-TTg stipulating the import of used machinery, equipment and technological lineshas taken effect, but Customs authorities and enterprises have faced problems during itsimplementation Specifically, Clause 3, Article 4 of Decision 18/2019/QD-TTg stipulates “only used machinery, equipment and technological lines for production of enterprises in Vietnam are allowed to be imported.” Thus, areVietnamese enterprises allowed […]

Customs legal documents have been completed

VCN- There are 22 legal documents that need to be amended, supplemented and issued in 2019. Currently, many legal documents are ready to submit to agencies for promulgation, including some important Customs documents. Considering the completion of Customs mechanism, policies and law as key tasks of the Customs sector, since the beginning of the year, […]

Regulations on account management of State Treasury at commercial banks

VCN – The Ministry of Finance announced it would collect feedback for draft decree regulating the management and using account of State Treasury which opened at Vietnam State Bank (SBV) and commercial banks. Accordingly, the State Treasury opened accounts at commercial banks in order to collect and spend state funds. Therefore, the State Treasury must […]

Consolidated two circular about customs brokers

VCN – The Ministry of Finance has issued Document No.35/VBHN-BTC consolidating two Circular 12/2015/TT-BTC and Circular 22/2019/TT-BTC about procedure granting professional certificate of customs declaration; granting and revoke employee code of customs broker; order, procedure to recognise the operation of customs broker. Circuar 22 aimsat two objectives: Firstly, reforming and simplifying administrative procedures but ensuring […]

New points about list of import goods must be carried out procedures at entry gate

Regulating entry gates for implementing customs procedures There were difficulties in the process of implementing Decision No.15 (entry gate is the place where goods were imported or the destination port written on the bill of lading?) and it has been solved in the Decision No.23. Article 4 in the Decision No.23/2019/QĐ-TTg stipulated specifically the entry […]

E-tax payment 24/7: deploying the pre-authorised tax payment programme

VCN – The General Department of Customs has issued decision 1737 / QD-TCHQ to amend procedures and standards of e-tax payment messages. Accordingly, from September 15, 2019, the e-tax payment programme will be implemented for enterprises that authorise customs authorities to debit their accounts to pay taxes. To create favourable conditions for enterprises which regularly […]

Goods infringing intellectual property rights will be sanctioned

VCN- The General Department of Vietnam Customs will sanction firms involved with goods infringing intellectual property rights for problems related to handling confiscated goods according to administrative procedures by Binh Duong Customs Department for CHAMPION trademark.   According to Binh Duong Customs Department, when handling confiscated goods according to administrative procedures, there is a case […]

Need to soon issue a resolution on tax debt settlement

VCN- In recent times, the tax industry has implemented measures to manage tax debt to urge recovery of the budget and minimise newly arising debts. However, according to the tax industry, a resolution on tax debt should be completed soon to remove the debt problem completely. Too many difficulties According to the General Department of […]

Government Bond Futures Contract

VCN – In order to help investors have a better view of the coming product of Government Bond Futures Contract, the State Securities Commission (SCC) will introduce more about this product. There are similar characteristics of a Government Bond According to the SCC, the Government Bond Futures Contract is one kind of listed derivative securities, […]