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Official Gazette

Friday, August 18, 2017

Enterprises to enjoy preferential customs regime

Updated: 10:57’ - 10/02/2015

A number of enterprises will be entitled to a preferential regime when carrying out tax procedures for their goods under Government Decree No. 08/2015/ND-CP of January 21.

In order to enjoy the preferential regime, within two consecutive years up to the date enterprises submit written requests for being recognized as preferential enterprises, they must have committed no violation of tax and customs regulations which are subject to sanctions (tax evasion, tax fraud, smuggling or illegal cross-border transportation of goods).

In addition, these enterprises must have well observed the law on accounting and auditing, performed and maintained the operation management, supervision and control in the whole import and export supply chain.

Importers and exporters that earn an annual turnover of USD 100 million, domestic producers that earn an annual turnover of USD 40 million, domestically produced agricultural and aquatic goods exporters that earn an annual turnover of USD 30 million, and customs agents that complete at least 20,000 customs declarations in a year are also entitled to the preferential regime.

As prescribed by the Decision, the preferential regime covers exemption from documentary and physical inspection, except when there is a sign of violation or random check to assess the observance of law.

At the same time, eligible enterprises will be entitled to carry out procedures for goods forwarding before others.

In case their goods are subject to specialized inspection, enterprises may bring such goods into their warehouses for preservation while waiting for inspection results.

Once enterprises no longer meet the above-said conditions, they will be suspended from enjoying the preferential regime.-

VNL_KH1 

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