New Guidelines on the Time of Submission of C/O

The Ministry of Finance has issued Official Letter 12802/BTC-TCHQ provides for the time of submission of the Certificates of Origin (C/O).

Accordingly, the time of submission of the C/O forms (except C/O with VK form) is as follows:

– For paper customs declaration form, the original C/O must be submitted at the time of registration of customs declaration.

– For electronic customs declaration form, the original C/O must submitted at the time of submission of customs declaration.

The customs authorities only consider the C/O additional filling suggestion in the following cases:

– At the time of registration of the customs declaration, with the HS code declaration, the MFN tax rate is lower than or equal to the special preferential tax but after customs clearance, identifying that the MFN tax rate is higher than the special preferential tax rate;

– At the time of registration of customs declaration, goods that are subject to investment incentives are exempt from import tax but after the customs clearance, identifying that goods are not subject to investment incentives.

Official Letter 12802/BTC-TCHQ is issued in September 14th 2016.

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ANT Lawyers is a Vietnam law firm with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

The firm has been advising and representing foreign companies and individual clients interested in either doing business, or needing representation or legal services in Vietnam who are seeking reasonable and competitive solutions without compromising on service quality.

For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.

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Decree 125/2016/ND-CP: Preferential Import Tariff for Goods from Japan

Decree 125 stipulated the Vietnam’s preferential import tariff in particular to implement the Vietnam – Japan agreement on economic partnership in the period 2016 -2019 and the conditions for enjoying this preferential import tariff under this agreement. The Decree is issued by the Vietnam Government.

Issued together with this Decree is a long list of goods and commodities with specific tax rates.

Decree 125 includes 7 specific provisions: the scope of regulation, subjects of application, the preferential import tariff tables, conditions for applying the preferential import tariff, goods from the duty free area of Vietnam, validity and responsible for implementation.

Decree 125 comes into effect from September 1st 2016. Along with this issuance is the abolition of Circular 25/2015/TT-BTC dated February 14th 2015 issued the preferential import tariff tables of Vietnam in particular to implement the agreement between Vietnam and Japan on economic partnership in the period 2015 – 2019.

ANT Lawyers is Vietnam exclusive member of Prae Legal, an international law firm network, providing full ranges of legal services in Vietnam

For Vietnam legal matters or services, the clients could reach ANT Lawyers, the exclusive Vietnam law firm members via email at ant@antlawyers.vn or call the telephone at +848 35202779.

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