Amendments and supplements to regulations on customs valuation in Vietnam

The Ministry of Finance has issued Circular 60/2019 / TT-BTC on amending and supplementing a number of articles of Circular 39/2015 / TT-BTC providing for customs value of exported and imported goods.

Accordingly, from October 15, 2019 (effective date of Circular 60/2019 / TT-BTC), there will be a change in the method of customs valuation of exported goods and imported goods. In particular, Circular 60/2019 / TT-BTC focuses on 4 major groups of issues, namely:

Regarding the group of general regulations, Circular 60 supplements six concepts and rights and obligations of customs authorities in determining customs values.

Group of principles and methods of customs valuation: focusing on 2 important contents: 3 principles and 6 methods for customs valuation of exported goods and 3 principles and 6 customs valuation method for imported goods.

With the problem group of customs valuation method, to solve thoroughly problems in reality such as: Method of determining transaction value; customs valuation of similar import goods transaction prices; customs valuation of imported goods using the inference method; and adding regulations on customs valuation of specific export and import goods: customs valuation of software; plus adjustments and royalties, license costs; customs valuation of methods of determining transaction values ​​of similar imported goods and goods with special relationships; the determination of value in some cases of specific import and export goods such as destroyed goods, courier goods …

In particular, in the content of the construction, management and use of the List of risk management, management by risk items and businesses, Circular 60 has supplemented the provisions on List of criteria for Enterprises with risk of customs value, specifically:

Firstly, at the time of evaluation, the customs evaluate that the enterprise do not comply with the law.

Second, at the time of the assessment, the enterprise was classified by the customs authorities as a high-risk enterprise or a very high-risk enterprise or an enterprise performing export or import of goods less than 365 days.

Thirdly, within a period of 730 days (2 years) or earlier as of the evaluation date, enterprises are handled by customs offices for acts of making false declarations of customs values, resulting in a lack of payable tax amounts or increase the tax amount to be exempted, reduced, refunded or not collected and fine amount prescribed by the Ministry of Finance or sanctioned by the State management agency for frauds, not paying taxes.

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