Temporary-import goods can now only be kept in Vietnam for 45 daysbefore they must be re-exported. One 15-day extension is allowed.
The Prime Minister issued Directive 23/CT-TTg last week to make Statemanagement of temporary importing and re-exporting more efficient. Thegoal was also to prevent smuggling, which was reported recently to havereached alarming levels.
Previously, goods could be keptin the country for up to 120 days with two 30-day extensions. The longstorage duration caused difficulties in management and meant thattemporary-import goods might be sold in the domestic market instead,according to the General Department of Customs. Under the directive,when the storage duration was over, the goods would be forciblyre-exported from Vietnam through the border gate of temporaryimport. If not, they would be seized and handled as regulations specify.
Regarding the loopholes in the regulations on temporaryimport and re-export that importers could take advantage of to seekillegal profits, the Prime Minister also ordered the Ministry ofIndustry and Trade to review the current regulations to eliminate thoseno longer appropriate and propose amendments for better management.
The ministry would issue, within this month, lists of goods banned andtemporarily halted from temporary import for re-export or transhipment,together with conditions for the temporary import of goods on which anexcise tax was imposed, including wine, beer, tobacco and cigars.
Regulations on the temporary import and re-export of petrol must alsobe tightened to stop smuggling and tax fraud through temporary import.
The General Department of Customs proposed petrol be added to the listof products on which importers could not enjoy tax deferrals and mustpay taxes immediately.
Relevant ministries and organisations would enhance management, especially in border and coastal provinces.
The department also urged the Government to lift its strict regulationson the importation of luxury goods, saying this would help increasetrade value, boost domestic consumption and generate more tax.-VNA
The Prime Minister issued Directive 23/CT-TTg last week to make Statemanagement of temporary importing and re-exporting more efficient. Thegoal was also to prevent smuggling, which was reported recently to havereached alarming levels.
Previously, goods could be keptin the country for up to 120 days with two 30-day extensions. The longstorage duration caused difficulties in management and meant thattemporary-import goods might be sold in the domestic market instead,according to the General Department of Customs. Under the directive,when the storage duration was over, the goods would be forciblyre-exported from Vietnam through the border gate of temporaryimport. If not, they would be seized and handled as regulations specify.
Regarding the loopholes in the regulations on temporaryimport and re-export that importers could take advantage of to seekillegal profits, the Prime Minister also ordered the Ministry ofIndustry and Trade to review the current regulations to eliminate thoseno longer appropriate and propose amendments for better management.
The ministry would issue, within this month, lists of goods banned andtemporarily halted from temporary import for re-export or transhipment,together with conditions for the temporary import of goods on which anexcise tax was imposed, including wine, beer, tobacco and cigars.
Regulations on the temporary import and re-export of petrol must alsobe tightened to stop smuggling and tax fraud through temporary import.
The General Department of Customs proposed petrol be added to the listof products on which importers could not enjoy tax deferrals and mustpay taxes immediately.
Relevant ministries and organisations would enhance management, especially in border and coastal provinces.
The department also urged the Government to lift its strict regulationson the importation of luxury goods, saying this would help increasetrade value, boost domestic consumption and generate more tax.-VNA
