Mazars in Vietnam Newsletter - Customs Update - Issue November 2020
Mazars Việt Nam - Tin Hải Quan – Tháng 11 Năm 2020
Mazars Vietnam
30th November 2020
We would like to bring you notable customs updates for November 2020 including: 1) Customs Declaration & Customs Tax Policy, 2) Cerfiticates of Origin, 3) Customs Procedure & Tax Policy Applying To Export-Manufacturing Model, Export-Processing Model And Export-Processing Enterprises (“EPES”). and 4) Specialized Management Requirements For Imported Goods.
We would like to bring you notable customs updates for November 2020 with the following highlights influencing the corporate operations activities:
1. CUSTOMS DECLARATION & CUSTOMS TAX POLICY
- Use mode B13 when re-exporting the returned goods imported for repair (re-processing)
- Re-exporting goods under other export modes other than mode B13 may also be eligible to tax refund
2. CERTIFICATE OF ORIGIN (C/O)
- C/O Form AI with additional text "Third country” is accepted
- New notable rules for C/O Form D (for ATIGA) from 20 September 2020
- Goods imported from Cambodia into Vietnam is also eligible to special-preferential import duty rate under AANZFTA
- Announcement about the website addresses to check C/O issued by the competent authority of Japan and Chile
3. CUSTOMS PROCEDURE & TAX POLICY APPLYING TO EXPORT-MANUFACTURING MODEL, EXPORT-PROCESSING MODEL AND EXPORT-PROCESSING ENTERPRISES (“EPEs”).
- Processed products outsourced to EPE as sub-processor are taxed when imported back by the domestic enterprise if the EPE uses imported material in its production
- No tax imposition in case of late notification about the sub-processing vendor and sub-processing contract
4. SPECIALIZED MANAGEMENT REQUIREMENTS FOR IMPORTED GOODS
- Guidance on specialized management policy for import of printer
- Guidance on specialized management policy for import of alcohols
- Imports being plant-derived products with name and description stipulated under the List of medicinal herbs but mainly used as food are temporarily not required to follow the specialized management requirements per the Law on Pharmacy
- Non-commercial goods are not exempted from quality inspection
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Mazars Vietnam
- Vietnam
- www.mazars.vn
Mazars is an internationally integrated partnership, specialising in audit, accountancy, advisory, tax and legal services*. Operating in over 90 countries and territories around the world, we draw on the expertise of 40,400 professionals – 24,400 in Mazars’ integrated partnership and 16,000 via the Mazars North America Alliance – to assist clients of all sizes at every stage in their development.
Mazars in Vietnam was established in 1994, providing a broad array of professional services in audit and accounting, tax, financial advisory, as well as consulting and legal services. We have since grown to become one of the premier mid-tier firms in the country with two offices in Hanoi and Ho Chi Minh City. We are committed to helping our clients confidently build and grow their businesses and always seeking to understand our clients and their environments, adjust our recommendations and support accordingly.
Present in over 90 countries and territories, we work together as one team across borders and functions to deliver exceptional and tailored services. We combine our skills and expertise with both a global perspective and local knowledge. We empower our people to help clients make the most of opportunities, operate with conviction, and give confidence to their stakeholders.
With more than 200 professionals in Vietnam, we serve clients of all sizes not only in Vietnam but also across Asia-Pacific. Our multi-disciplinary team of professionals comprises Chartered Accountants, Certified Public Auditors, Tax Lawyers, Masters in Accounting and Finance, Masters in Business and Administration and Cost Accountants, who are all well equipped with the requisite business and technical skills, experience and knowledge base to deliver customised solutions to our clients of all sizes, across all sectors, while remaining agile, personal and distinct in our approach.
Mazars in Vietnam is ranked number one for the Accounting Outsourcing Services and among the top Auditing firms in Vietnam.
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