From June 15, individuals and organizations that import wastes for use as production materials will be obliged to pay security deposits of up to 20 percent of total import value.
As prescribed in Government Decree No. 38/2015/ND-CP on the management of wastes permitted for import for use as production materials, the security deposit will be made into the Vietnam Environmental Protection Fund or at commercial banks where waste importers open their main transaction accounts within 15 days before customs procedures for imported wastes are completed.
The security deposit is expected to make importers responsible for treating environmental pollution possibly caused by imported wastes.
Those importing less than 500 tons of iron and steel scraps will have to pay a security deposit worth 10 percent of the total value of imported scraps.
The deposit of 15 percent will apply to those importing between 500 and 1,000 tons.
If the imported volume is over 1,000 tons, the deposit must be up to 20 percent.
The deposit for paper and plastic wastes will be 15 percent of the value of shipments of under 100 tons, 18 percent for shipments of between 100 and 500 tons, and 20 percent for shipments of over 500 tons.
Ten-percent deposits must be paid for other kinds of imported waste.-
