Circular No. 110/2010/TT-BTC guides the confirmation and clearance of cash-carrying vehicles classified under subheading 8705.10 in the Export Tariff and Preferential Import Tariff, applicable to the State Bank of Vietnam, its affiliated units, Credit Institutions, National Treasury, and the Vietnam Development Bank.
Scope of application
The State Bank of Vietnam and its affiliated units; Credit Institutions; National Treasury; Vietnam Development Bank
Key points
- An enterprise importing cash-carrying vehicles must have a confirmation from the State Bank of Vietnam regarding compliance with the standards for cash-carrying vehicles.
- Upon importation, the enterprise must present the required documents and a confirmation from the State Bank of Vietnam to the customs authority.
- Within three months from the date of completing customs procedures, the enterprise must submit a photocopied sales invoice with the importer's confirmation to the State Bank of Vietnam for record-keeping and management purposes.
- If the conditions are not met or if there is a change in the purpose of use or the user, then taxes must be paid to the customs authority according to the type of imported goods corresponding to the tariff number in the Preferential Import Tariff and the current import tax rate.
- This Circular takes effect forty-five days from the date of issuance.
🌐 Social impact of this document
- Positive impact: Ensures the quality of cash-carrying vehicles, preventing the importation of non-compliant types of vehicles.
- Negative impact: May cause difficulties for enterprises in the process of importing and managing cash-carrying vehicles.
❓ Frequently asked questions
What documents does an enterprise need to obtain confirmation for cash-carrying vehicles?
An enterprise needs a written confirmation from the State Bank of Vietnam regarding compliance with the standards for cash-carrying vehicles.
How long does an enterprise have to submit a photocopied sales invoice to the State Bank of Vietnam?
Within three months from the date of completing customs procedures, the enterprise must submit a photocopied sales invoice with the importer's confirmation to the State Bank of Vietnam.
What penalties will an enterprise face if it fails to meet the conditions?
If the conditions are not met or if there is a change in the purpose of use or the user, then taxes must be paid to the customs authority according to the type of imported goods corresponding to the tariff number in the Preferential Import Tariff and the current import tax rate.
To which organizations does this Circular apply?
This Circular applies to the State Bank of Vietnam, its affiliated units, Credit Institutions, National Treasury, and the Vietnam Development Bank.
When does this Circular take effect?
This Circular takes effect forty-five days from the date of issuance.
Full text
CIRCULAR
Guidelines for confirming and clearing vehicles designed to carry cash belonging to subheading 8705.10 in the Export Tariff, the Preferential Import Tariff
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Article 1. Conditions for application.
Article 1. Conditions for application.
Vehicles designed to carry cash shall be classified under heading 87.05 if they meet the following conditions:
1. There must be a written confirmation from the State Bank of Vietnam according to the form attached to this Circular regarding compliance with the standards for vehicles designed to carry cash as prescribed by the State Bank of Vietnam (the confirmation letter must clearly state the page number, all pages must be stamped with a cross-stamp, and four copies must be made: two copies to be handed over to the importing enterprise (one copy to be submitted to the customs authority when handling import procedures, one copy to be kept by the importing enterprise), and two copies to be retained by the State Bank of Vietnam).
2. The users of such vehicles designed to carry cash are the State Bank of Vietnam and its affiliated units; Credit organizations; National Treasury; Vietnam Development Bank.
Article 2. Implementation organization.
1. When importing vehicles designed to carry cash, the importing enterprise, in addition to the general documents required for imported goods, must present to the customs authority the confirmation from the State Bank of Vietnam regarding compliance with the standards for vehicles designed to carry cash as stipulated by the State Bank of Vietnam as provided for in Clause 1, Article 1 of this Circular.
2. Within the latest three months from the date of completion of customs procedures, the importing enterprise must send to the State Bank of Vietnam a photocopied invoice for sale to the users of the vehicles designed to carry cash specified in Clause 2, Article 1 of this Circular, confirmed by the importing enterprise for the State Bank of Vietnam to retain and manage.
Article 3. Effective Date.
This Circular takes effect 45 days from the date of signature./.
DEPUTY MINISTER
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