This circular stipulates the tax value for goods traded in kind with Laos to support Vietnamese enterprises in exchanging goods as agreed between the two governments.
Đối tượng áp dụng
Enterprises that have exchange contracts with Laos approved by both countries' Ministries of Commerce
Các điểm cốt lõi
- Enterprises with exchange contracts with Laos -> shall apply the contract price for tax calculation, but not less than 60% of the price set by the General Department of Customs (Article 1)
- If the contract price is below 60%, tax must be calculated at 60% of the price set by the General Department of Customs (Point a, Article 1)
- Goods listed in the management list for import tax value -> shall apply the minimum price as currently prescribed (Point b, Article 1)
- Exchange contracts permitted by the Ministry of Commerce after September 13, 2002 -> shall implement the tax value according to the guidance provided in this circular (Article 2)
- This document takes effect immediately upon issuance
🌐 Tác động xã hội từ văn bản này
- Encouraging trade exchanges between Vietnam and Laos
- Reducing import tax burdens for enterprises in certain cases
- For goods listed under price management -> must still comply with the minimum level
❓ Câu hỏi thường gặp
Can enterprises apply a tax value based on exchange contracts below 60%?
No, if the contract price is lower than 60%, tax must be calculated at 60% of the price set by the General Department of Customs.
When does this document take effect?
Immediately upon issuance, November 4, 2002
Toàn văn
LETTER
OF THE MINISTRY OF FINANCE NUMBER 11877 TC/TCT DATED NOVEMBER 4, 2002
REGARDING THE DETERMINATION OF CUSTOMS VALUE FOR IMPORTED GOODS
UNDER THE BARTER SYSTEM WITH LAOS
Dear: - People's Committees of provinces and centrally-administered cities
- Ministries, ministerial-level agencies, and government agencies
Pursuant to the authority and principles for determining customs value as stipulated in Article 7 of Decree No. 54/CP dated August 28, 1993 issued by the Government detailing the implementation of the Law on Export Duties and Import Duties; and the Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Lao People's Democratic Republic signed in Vientiane on August 13, 2002, as well as Circular No. 1128/CP-QHQT dated September 20, 2002 issued by the Government regarding cooperation between Vietnam and Laos.
To support and encourage businesses in exchanging goods with Laos under the agreement signed between the two governments, the Ministry of Finance provides guidance on determining customs value for imported goods under the barter system with Laos as follows:
For barter contracts between enterprises of both countries (contracts approved by the Ministries of Commerce of both countries according to Point 4.2 of the specific issues agreement in Vietnam-Laos cooperation relations signed in Vientiane on August 13, 2002), if settled by Laos with corresponding goods, the customs value shall be determined based on the contract price between companies but not less than 60% (sixty percent) of the customs value rate issued by the General Department of Customs. If the contract price is lower than 60%, the customs value will be calculated at 60% of the customs value rate issued by the General Department of Customs. For goods listed in the State-managed customs value import tariff, the minimum customs value must still be applied as prescribed.
This document takes effect from the date of issuance. For barter contracts permitted to be implemented after September 13, 2002 (the effective date of the Vientiane Agreement) until the date this letter is issued, all quantities of goods under these contracts will also follow the customs value determination guidance provided in this letter.
The Ministry of Finance provides instructions for units to be aware and implement.
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