Circular No. 07/2010/TT-BTC dated January 14, 2010 of the Ministry of Finance amending and supplementing the Finance Ministry's Circular No. 45/2008/TT-BTC dated June 5, 2008, guiding financial regulations and customs procedures applicable to Cau Treo international border-gate economic zone, Ha Tinh province

THE MINISTRY OF FINANCE

Circular No. 07/2010/TT-BTC of January 14, 2010, amending and supplementing the Finance Ministry’s Circular No. 45/2008/TT-BTC of June 5, 2008, guiding financial regulations and customs procedures applicable to Cau Treo International Border-Gate Economic Zone, Ha Tinh province

Pursuant to the Prime Minister’s Decision No. 162/2007/QD-TTg of October 19, 2007, promulgating the Operation Regulation of Cau Treo International Border-Gate Economic Zone, Ha Tinh province;

Pursuant to the Prime Minister’s Decision No. 93/2009/QD-TTg of July 10, 2009, amending and supplementing Clause 4, Article 21 of the Prime Minister’s Decision No. 33/2009/QD-TTg of March 2, 2009, promulgating financial mechanisms and policies applicable to border-gate economic zones;

Pursuant to the Prime Minister’s directing opinions in Official Letter No. 5361/VPCP-KTTH of August 6, 2009;

Pursuant to the Deputy Prime Minister’s directing opinions in the Government Office’s Notice No. 291/TB-VPCP of September 18, 2009;

After reaching agreement with the Ministry of Industry and Trade (Official Letter No. 11426/BCT-XNK of November 12, 2009), the Ministry of Justice (Official Letter No. 3980/BTP-PLQT of November 13, 2009), and the Ministry of Planning and Investment (Official Letter No. 8843/BKH-KTDV of November 17, 2009);

The Ministry of Finance guides amendments and supplements to the Finance Ministry’s Circular No. 45/2008/TT-BTC of June 5, 2008, guiding financial regulations and customs procedures applicable to Cau Treo International Border-Gate Economic Zone, Ha Tinh province, as follows:

Article 1. To amend Clause 4, Section I of Circular No. 45/2008/TT-BTC as follows:

“4. Conditions for application of financial regulations to Cau Treo International Border-Gate Economic Zone (below referred to as Cau Treo zone):

Cau Treo zone will be entitled to financial incentives specified in this Circular if concurrently meeting the following conditions:

- Having measures to isolate activities within the zone from those in inland Vietnam and the Lao People’s Democratic Republic.

- Having a customs office and relevant agencies to supervise and check people, goods and vehicles leaving or entering the zone.”

Article 2. To amend and supplement the first paragraph after the fourth em rule at Item b, Point 1.2, Clause 1, Section II of Circular No. 45/2008/TT-BTC as follows:

“When being imported into inland Vietnam, goods produced, processed, recycled or assembled in Cau Treo zone with the use of imported materials, supplies, components or semi-finished products, which cannot be produced at home, are exempt from import duty for 5 years from the date of production commencement according to Clause 16 and the first paragraph of Clause 15, Article 16 of the Government’s Decree No. 149/2005/ND-CP of December 8, 2005, detailing the implementation of the Law on Import Duty and Export Duty; and Clause 3, Article 21 of the Prime Minister’s Decision No. 162/2007/QD-TTg of October 19, 2007, promulgating the Operation Regulation of Cau Treo International Border-Gate Economic Zone, Ha Tinh province.

Past the above duty exemption duration, when being imported into inland Vietnam, goods produced, processed, recycled or assembled in Cau Treo zone with the use of imported materials and components (excluding goods imported from inland Vietnam with the use of imported materials and components) are subject to import duty only for the imported materials and components constituting such goods.”

Article 3. To amend and supplement Point 1.6, Clause 1, Section II of Circular No. 45/2008/TT-BTC as follows:

“1.6. For Cau Treo zone’s tourists

- Local and foreign tourists to Cau Treo zone may buy imported goods free of duty and bring them into inland Vietnam within a quota not exceeding VND 500,000/tourist/day. If the total goods value exceeds the above quota, goods buyers shall fully pay import duty for the excessive amount according to law.

- The policy on selling duty-free goods to Cau Treo zone’s tourists must comply with the Finance Ministry’s Circular guiding the implementation of the Prime Minister’s Decision No. 93/2009/QD-TTg of July 10, 2009, amending and supplementing Clause 4, Article 21 of the Prime Minister’s Decision No. 33/2009/QD-TTg of March 2, 2009, promulgating the financial mechanisms and policies applicable to border-gate economic zones.”

Article 4. Effect

1. This Circular takes effect 45 days from the date of its signing.

2. Any problems arising in the course of implementation should be promptly reported to the Ministry of Finance for appropriate amendment and supplementation.-

For the Minister of Finance
Deputy Minister
DO HOANG ANH TUAN