This document of the Ministry of Finance guides the application of import tax valuation based on foreign trade purchase and sale contracts, temporarily using the old minimum price list until a new one is available, and allows the use of actual payment prices in contracts if they are not less than 70% of the inspection price.
Key points
- During the period before issuing the Inspection Price List, apply the price specified in the Minimum Tax Value Table issued together with Decision No. 177/2001/QĐ-TCHQ to replace the Inspection Price List (Point 1).
- If the contract price is not less than 70% of the inspection price, the import tax valuation shall be based on the actual payment price in the contract (Point 2).
- Other guidelines stipulated in Circular No. 08/2002/TT-BTC are still implemented as stated (Point 3).
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LETTER
OF THE MINISTRY OF FINANCE NUMBER 1414 TC/TCT DATED FEBRUARY 18, 2002
REGARDING IMPLEMENTATION OF CIRCULAR NO. 08/2002/TT/BTC
DATED FEBRUARY 18, 2002
Respected: - Ministries, agencies at the level of ministries, and government agencies
- People's Committees of provinces and centrally governed cities
On January 23, 2002, the Ministry of Finance issued Circular No. 08/2002/TT/BTC guiding the implementation of import tax calculation prices under foreign trade purchase contracts (replacing Circulars No. 82/1997/TT/BTC dated November 11, 1997 and No. 92/1999/TT/BTC dated July 24, 1999 of the Ministry of Finance). This circular takes effect from February 20, 2002.
Due to changes in the authority to issue legal regulations by government agencies as stipulated in the Law on Government Organization, the General Department of Customs has not yet signed and issued the Inspection Price List. To implement this circular within the prescribed timeframe, the Ministry of Finance proposes the following:
1. During the period before issuing the inspection price list, temporarily apply the prices specified in the Minimum Tax Calculation Price Table attached to Decision No. 177/2001/QĐ-TCHQ dated March 14, 2001 of the General Department of Customs and decisions amending and supplementing Decision No. 177/2001/QĐ-TCHQ as a substitute for the inspection price list. 2. For cases where the contract price is not less than seventy percent (70%) of the inspection price specified in point 1 above, the tax calculation price shall be applied according to the actual payment amount stated on the contract.
3. Other guidelines stipulated in Circular No. 08/2002/TT/BTC dated January 23, 2002 shall continue to be implemented as guided by this circular.
Other guidelines prescribed in Circular No. 08/2002/TT-BTC dated January 23, 2002 shall continue to be implemented in accordance with this Circular.
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