VietnameseCircular No. 105/2006/TT-BTC dated November 15, 2006 of the Ministry of Finance guiding the financial regime and customs procedures applicable to Van Phong economic zone, Khanh Hoa Province
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Circular No. 105/2006/TT-BTC dated November 15, 2006 of the Ministry of Finance guiding the financial regime and customs procedures applicable to Van Phong economic zone, Khanh Hoa Province
| Issuing body: | Government | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 105/2006/TT-BTC | Signer: | Tran Van Ta |
| Type: | Circular | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 15/11/2006 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Customs |
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THE MINISTRY OF FINANCE ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
No: 105/2006/TT-BTC | Hanoi, November 15, 2006 |
CIRCULAR
GUIDING THE FINANCIAL REGIME AND CUSTOMS PROCEDURES APPLICABLE TO VAN PHONG ECONOMIC ZONE, KHANH HOA PROVINCE
Pursuant to the State Budget Law;
Pursuant to the Laws and Ordinances on taxes, charges and fees;
Pursuant to the Prime Minister's Decision No. 92/2006/QD-TTg of April 25, 2006, on the establishment of Van Phong Economic Zone, Khanh Hoa province, and the promulgation of its operation regulation;
The Finance Ministry guides the financial regime and customs procedures applicable to Van Phong Economic Zone as follows:
I. GENERAL PROVISIONS
1. Scope of application:
The financial regime and customs procedures provided in this Circular (hereinafter referred to as the financial regime for short) apply in Van Phong Economic Zone, Khanh Hoa province (hereinafter called Van Phong EZ for short).
The financial regime provided in this Circular applies only to production and business activities conducted in Van Phong EZ. If an organization or individual conducts business activities in both Van Phong EZ and inland Vietnam, it/he/she shall account separately business activities conducted in Van Phong EZ so as to have a ground for determination of the applicable financial regime.
Foreign-invested enterprises and foreign parties to business cooperation contracts which have been granted investment licenses; domestic production and business establishments which have been granted investment preference certificates in Van Phong EZ before the effective date of the Prime Minister's Decision No. 92/2006/QD-TTg of April 25, 2006 (hereinafter called Decision No. 92/2006/QD-TTg for short), but have not fully enjoyed the preferences may enjoy the preferential policies provided in this Circular for the remaining preferential period. If a project has enjoyed preferences higher than those provided in this Circular, it may continue enjoying those preferences for the remaining duration according to the investment license.
2. Subjects of application:
Subject to this Circular are:
Investors of all economic sectors operating under the Investment Law, the Enterprise Law or the Cooperative Law, individual business households and independent practitioners, organizations and individuals conducting business activities in Vietnam in accordance with the provisions of law.
3. Interpretation of terms:
In this Circular, the following terms are construed as follows:
- Non-tariff zone means a geographical area separated by solid fences from other functional zones in Van Phong EZ according to the provisions of Articles 7 and 8 of Decision No. 92/2006/QD-TTg.
- Functional zones include the industrial park, the port and port logistic service area, the tourist and entertainment service area, the population quarter and the administrative quarter within Van Phong EZ (excluding the export-processing zone), which are defined in the general planning on Van Phong EZ approved by the Prime Minister.
- Inland Vietnam means functional zones within Van Phong EZ and the remaining part of the territory of Vietnam (except the zones similar to the non-tariff zone specified in Clause 1, Article 5 of Law No. 45/2005/QH11 of June 14, 2005 on Import Tax and Export Tax (amended) and the export-processing zone).
- Customs control gate: The non-tariff zone has two customs control gates: one at the junction between the non-tariff port and the tariff port and the overseas area, called gate A for short; and the other at the junction between the non-tariff port and inland Vietnam, called gate B for short.
- List of goods originating from the non-tariff zone means the list of goods promulgated by the Management Board of Van Phong EZ (called the Management Board for short) for a certain period, which includes commodities produced, processed, recycled or assembled in the non-tariff zone without the use of raw materials or components imported from foreign countries.
4. Conditions for application of the financial regime related to the non-tariff zone
The financial mechanisms provided for the non-tariff zone in Van Phong EZ apply only when the non-tariff zone fully satisfies the following conditions:
- Having a solid fence to ensure the isolation of activities within it from those in other functional zones in Van Phong EZ;
- Having no population quarter, no permanent or temporary residents (including foreigners);
- Having customs offices to supervise and check people, goods and means of transport entering or leaving the non-tariff zone.
5. Some general provisions on customs procedures applied in the non-tariff zone
a/ Organizations and individuals operating in the non-tariff zone are entitled to export to or import from abroad all kinds of goods and services not banned by Vietnamese law. The policy on imports and exports shall comply with the Prime Minister's regulations on goods import and export management in each period and the guiding documents of concerned ministries and branches. The import and export of goods on the list of goods subject to conditional import or export or goods subject to business restriction shall comply with the guidance of the Trade Ministry.
b/ Biannually, enterprises in the non-tariff zone shall send to customs offices reports on finalization of supplies, raw materials and materials and goods imported or exported in the period and reports on warehoused, ex-warehoused or unsold products. Customs offices shall conduct examination and comparison and send those reports to tax offices for inspection and determination of payable tax amounts.
c/ Import, export or transit goods and luggage; means of transport on entry, exit or transit in the non-tariff zone are subject to customs procedures provided for them respectively.
d/ Import, export or transit goods; means of transport on entry, exit or transit are allowed to go through the non-tariff zone via gates A and B only.
e/ Goods exported from the inland into the non-tariff zone or vice versa and goods imported from abroad into the non-tariff zone through gate B must go through customs procedures at gate B; goods imported from abroad into the non-tariff zone and goods exported from the non-tariff zone to foreign countries through gate A must go through customs procedures at gate A.
f/ Goods exported from the inland to foreign countries or imported from abroad into the inland through gate A must go through customs procedures under current regulations at gate A or at the border-gate customs sub-department. If customs procedures are carried out at the border-gate customs sub-department, they must comply with the regulations on goods transferred from border gate to border gate.
g/ Apart from the above provisions on customs procedures, concerned parties shall perform other obligations specified in the Customs Law, the Import Tax and Export Tax Law and other legal documents on import and export.
6. Principles on investment preferences
Projects of investment in Van Phong EZ enjoy the maximum preferences provided for those in areas meeting with exceptional socio-economic difficulties under the Investment Law, the Enterprise Income Tax Law, the Value Added Tax Law and other preferences under treaties, bilateral and multilateral commercial contracts to which Vietnam is a contracting party.
If legal documents provide different levels of preferences for the same subject, the preference level defined in the document with higher legal effect applies.
If legal documents promulgated by the same agency provide for the same matter differently, the provisions of the latest document apply.
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