Circular No. 117/2011/TT-BTC dated August 15, 2011 of the Ministry of Finance guiding customs procedures for goods processed for foreign traders
Guiding customs procedures for processed goods
On August 15, 2011, the Ministry of Finance issued the Circular No. 117/2011/TT-BTC guiding customs procedures for goods processed for foreign traders.
Customs procedures for a specific processing contract (including receipt of the contract, acceptance of norms, performance of customs procedures for each lot of imports or exports under the contract and liquidation of the contract) shall be carried out at a district-level Customs Department under a provincial-level Customs Department which is selected by the trader concerned.
A processing contract must be made in writing or other forms of equivalent validity, including telegraph, telex, fax, data message and other forms provided by law. For electronic documents accompanying contracts issued by principals being foreign traders, the processors being Vietnamese traders shall sign and append their seals for certification.
Annexes to a processing contract are an integral part of the processing contract. Any modifications, supplements or adjustments to the terms of a processing contract must be expressed in a contract annex made before the processing contract expires and notified to the customs office before or when the Vietnamese trader carries out export or import procedures for the first goods lot under such annex.
Besides, the Circular also regulates customs procedures for goods received for processing in Vietnam for foreign traders and so on.This Circular takes effect on September 29, 2011 and replaces the Ministry of Finance’s Circular No. 116/2008/TT-BTC of December 4, 2008, Circular No. 74/2010/TT-BTC of May 14, 2010, and previous guiding documents which are contrary to this Circular.
For further details of the Circular 117/2011/TT-BTC, Click here
translation of the Official Gazette of the Vietnam News Agency