The trader must submit its finalization report within 90 days after the end of the fiscal year
On August 28, 2020, the Government promulgates the Decree No. 100/2020/ND-CP on duty free business.
In accordance with this Decree, annually, a duty free trader shall submit its finalization report on sale of duty-free goods in the fiscal year on the 90th day after the end of the fiscal year at the latest at the customs branch managing duty free shops, duty free warehouses. The customs branch shall examine finalization report of the trader after receiving it. Within 5 working days after completing the examination, the customs agency shall notify the examination results to the examined trader.
In addition, the trader shall make a record of destroyed goods, sample goods and goods for trial use, bags and wrappings imported for duty-free goods package. No later than the 7th working day of a month, the trader shall summarize statistics of sample goods, goods for trial use, bags and wrappings imported for duty-free goods package which have been used and which are left in the previous month and submit them to the electronic data processing system.
Besides, a person on entry at international airports shall be responsible for declaring and paying duty and submitting relevant documents to the customs agency when purchasing duty-free goods in excess of duty free allowances.
This Decree takes effect on October 15, 2020.