Vehicles shipped to Vietnam’s ports that are not eligible for importunder the mode of movable assets of repatriating overseas Vietnameses(Viet Kieu) will be fined and then confiscated if they are notre-exported.
This comes under new regulations theMinistry of Finance recently proposed to the Government with the aim toprevent people from taking advantage of the Government’s Viet Kieuautomobile import policies to make illegal profits.
Under the new regulations, vehicles not re-exported within 30 days ofthe local customs departments' decisions will be confiscated.
The Ministry of Finance also ordered the General Department of Customsto inspect cars that were currently stuck at ports. Those that wereproven to be smuggled would be treated as smuggled products inaccordance with Article 45 of the Law on Customs.
The owners of vehicles kept at ports for more than 90 days would getnotices. After another 30 days, if the receivers did not come to customsdepartments for handling procedures, the cars would be sold and themoney would go into the State budget.
The number ofluxury vehicles brought in by repatriating Viet Kieu has rapidlyincreased, with more than 1.140 cars in 2012 compared with 164 in 2011.-VNA