VietnameseTO REDUCE CONDITIONS IN PILOT APPLICATION OF THE CUSTOMS PRIORITY REGIME
The Ministry of Finance issued the Circular No. 105/2011/TT-BTC dated July 12, 2011 amending and supplementing a number of articles of the Ministry of Finance’s Circular No. 63/2011/TT-BTC of May 13, 2011, providing the pilot application of the priority regime in the state management of customs to eligible businesses.
Within that, A business having a record of the law observance means the one which has never been handled by customs agencies and other state management agencies defined in Clause 3 of this Article for any violations; or the one which, during the period specified in Clause 2 of this Article, has been handled for not more than 3 (three) times by the aforesaid agencies for administrative violations (excluding fine for late tax payment) with a fine of over VND 20 million each time without any additional sanction (deprivation of the right to use permits or practice licenses; confiscation of material evidence and means involved in violations; forcible destruction or transportation out of Vietnam of goods; forcible payment of money amounts equal to the value of material evidence involved in violations);
At the same time, Businesses eligible for priorities in export and import of all goods items and in all forms of export and import (including also exported, imported or domestically purchased and sold goods and services), The export or import turnover must be around USD 350 million/year instead of USD 500 million/year as previous regulations. And Businesses eligible for priorities in export of fisheries products, farm produce and crude oil purely originating in Vietnam, The export turnover must be around USD 70 million/year instead of USD 100 million/year as previous regulations
Businesses which cooperate well with customs offices; customs offices which believe in and can control the law observation by businesses.
It is known that the pilot application of the priority regime in the state management of customs to eligible businesses has been applied from June 27, 2011 in accordance with regulations prescribed at the Circular No. 63/2011/TT-BTC.
This Circular takes effect on July 12, 2011.
Circular 105/2011/TT-BTC DOC (Word)
Circular 105/2011/TT-BTC PDF (Original)
Circular 105/2011/TT-BTC ZIP (Word)
