This document specifies the taxable value for imported goods subject to discounts or price reductions, applicable from May 23, 2001. For cases previously addressed specifically by the Ministry of Finance, implementation shall follow specific guidelines issued by the Ministry.
Key points
- Importers must calculate import tax based on the value after deducting discounts or price reductions according to Circular No. 4698 TC/TCT dated May 23, 2001.
- Cases previously addressed specifically by the Ministry of Finance shall be implemented in accordance with specific guidelines issued by the Ministry.
- The General Department of Customs must direct uniform implementation for calculating import tax on goods subject to discounts or price reductions.
🌐 Social impact of this document
- Importers benefit from calculating import tax based on the value after deducting discounts or price reductions.
- The General Department of Customs and customs authorities shall provide specific guidance to ensure uniform implementation in calculating import tax.
❓ Frequently asked questions
On what basis is an importer taxed?
Importers must calculate import tax based on the value after deducting discounts or price reductions.
When does Circular No. 4698 TC/TCT take effect?
Circular No. 4698 TC/TCT takes effect from the date of issuance (May 23, 2001).
For cases previously addressed specifically by the Ministry of Finance, what guidelines must be followed?
Implementation shall follow specific guidelines issued by the Ministry of Finance.
Full text
LETTER
OF THE MINISTRY OF FINANCE NUMBER 9854/TC-TCT DATED OCTOBER 17, 2001
REGARDING THE BASIS FOR CALCULATING IMPORT TAX ON GOODS WITH DISCOUNTS OR PRICE REDUCTIONS
RESPECTED: General Department of Customs
In response to the letter number 3299/TCHQ-KTTT dated August 2, 2001 from the General Department of Customs regarding the timing for applying documents on calculating import tax on goods with discounts or price reductions, the Ministry of Finance provides its opinion as follows:
Pursuant to Article 7 of Decree No. 54/CP dated August 28, 1993 issued by the Government; Circular No. 172/1998/TT-BTC dated December 22, 1998 and Letter No. 4698 TC/TCT dated May 23, 2001 of the Ministry of Finance:
The letter number 4698 TC/TCT dated May 23, 2001 from the Ministry of Finance regarding the basis for calculating import tax on goods with discounts or price reductions shall be implemented as of the date of issuance (May 23, 2001). For cases that have been specifically addressed by the Ministry of Finance, they should be handled according to the guidance provided by the Ministry of Finance.
The Ministry of Finance provides this opinion for the General Department of Customs to be aware and to uniformly direct implementation.
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