Mazars in Vietnam Newsletter - Customs Update - Issue November 2021

In this issue, there are notable topics covered as following:

1. The Customs shall impost tax in case of liquidating part of duty-free imports being fixed asset, but without proper declaration
2. New special-preferential import tariff for goods imported from Laos
3. New guidance on entrusted-import serving for export-manufacturing business
4. Taxpayers are not allowed to notify the Master list of duty-free import if the In-principle approval for investment has expired
5. Guidance on Tax policy and Customs procedure for the transaction of borrowing mold and machine from EPE
6. No penalty for goods imported into Vietnam without proper information on label
7. Allow the additional declaration of royalty for many Customs declarations on 01 additional-combined declaration
8. Imported automobile that do not participate in traffic is not subject to excise duty
9. Exporting the imported goods under trading mode is also eligible to tax refund
10. Amend export duty tariff and preferential import duty tariff
11. No duty exemption in case of sending all imported material to other affiliated parties under the same company group for manufacturing / processing step

Our support

For regulation changes and tax matters, we can provide you with assistance on:

• Registration, declaration of Personal Income Tax, Corporate Tax, VAT and Foreign Contractor Tax.
• Tax refunds assistance and representation.
• Consultancy on utilizing opportunities provided by transfer pricing.
• Customs Advisory: Compliance & Reporting; FTA and C/O; Harmonised System code classification and valuation; Inventory control; International trade arrangement; and Others.

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