Are belongings of foreigners on business trip to Vietnam exempt from tax?

Nu Bui/ Huyen Trang

14:23 | 09/11/2024 Regulations Follow english.haiquanonline.com.vn on

VCN - That is the question of Nhat Viet Relocation Company Limited, which has just been answered by the Customs Department and given specific instructions on providing a confirmation of residence of foreigners on business trip to Vietnam to follow tax exemption procedures for movable assets.

	FDI enterprises are instructed to use List of goods exempt from tax
	Tax, fee, and land rent exemption, reduction, and deferral policies: a driving force for business recovery and growth
	Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Article 33 of the 2014 Customs Law stipulates that individuals and organizations exporting and importing (XNK) goods that are movable assets must have documents proving their residence and work in Vietnam or abroad.

Clause 2, Article 16 of the Law on Import and Export Tax and Clauses 1 and 2, Article 7 of Decree 134/2016/ND-CP clearly stipulate that movable assets are subject to tax exemption.

Illustrative Photo: Source: NIA

Also Clause 1, 2, Article 31 of Decree 134/2016/ND-CP amended and supplemented in Decree 18/2021/ND-CP; and Article 14 of Circular 06/2021/TT-BTC stipulates procedures for tax exemption upon customs clearance.

In particular, on December 21, 2022, the Government issued Decree 104/2022/ND-CP amending and supplementing a number of articles of the decrees related to the submission and presentation of household registration books and temporary residence books when carrying out administrative procedures and public services.

Accordingly, Article 10 of Decree 104/2022/ND-CP amended and supplemented Point d, Clause 3, Article 7 and Point b, Clause 3, Article 9 of Decree 134/2016/ND-CP stipulates that customs declarants and taxpayers must present: “A copy of one of the following documents: Citizen Identification Card, Identity Card, Confirmation of Residence Information, Notification of Personal Identification Number and Citizen Information in the National Population Database”.

In addition, Clause 3, Article 31 of Decree 134/2016/ND-CP amended and supplemented in Decree 18/2021/ND-CP stipulates that the Customs authority where customs procedures are carried out shall, based on the tax exemption dossier, compare with current regulations to implement tax exemption.

Compared with current regulations, according to the General Department of Customs, movable assets of foreigners working in Vietnam for 12 months or more are exempt from import tax according to the tax exemption limit prescribed in Clause 2, Article 7 of Decree 134/2016/ND-CP.

Tax exemption dossiers are implemented according to the provisions of Clause 3, Article 7 of Decree 134/2016/ND-CP amended and supplemented in Clause 1, Article 10 of Decree 104/2022/ND-CP; Clauses 1 and 2, Article 31 of Decree 134/2016/ND-CP amended and supplemented in Decree 18/2021/ND-CP and Article 14 of Circular 06/2021/TT-BTC, including: "Confirmation of residence information".

The General Department of Customs requests Nhat Viet Relocation Company Limited to compare current legal documents for implementation.

Nu Bui/ Huyen Trang

Tags:

tax exemption belonging foreigners movable assets

Related News

Abolishing regulations on tax exemption for small-value imported goods must comply with international practices

13:54 | 15/11/2024 Regulations

VCN - The Ministry of Finance said that the abolition of regulations on tax exemption for imported goods valued at less than VND1 million must comply with international practices in the context of the growing trend of cross-border e-commerce activities.

Perfecting the law on import and export tax towards exemption and reduction for the right subjects

15:00 | 05/11/2024 Customs

VCN - According to Deputy Director General of Vietnam Customs Luu Manh Tuong, there are still many issues to take full advantage of Free Trade Agreements (FTAs), including the need to perfect legal policies on import and export taxes in the direction of strict management and exemption for the right subjects.

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

16:39 | 01/11/2024 Finance

VCN - Discussing in groups about the project "1 law amending 7 laws" in the financial sector according to the program of the 8th Session on October 29, 2024, National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...

Vietnam's economy is recovering well

16:42 | 29/10/2024 Headlines

VCN - According to Dr. Nguyen Quoc Viet, Deputy Director of the Vietnam Institute for Economic and Policy Research (VEPR), by the end of the third quarter of this year, Vietnam's economy had recovered relatively well amid optimism about the overall growth of the world economy in late 2024 and 2025.

Latest News

New regulations on procurement, exploitation, and leasing of public assets

09:17 | 15/12/2024 Regulations

VCN - Decree No. 114/2024/ND-CP, which amends and supplements certain articles of Decree No. 151/2017/ND-CP detailing the implementation of the Law on Management and Use of Public Assets, introduces significant changes. These include updates on authority, methods of asset exploitation in agencies and units, plans for leasing, joint ventures, and partnerships in public service units, as well as centralized procurement procedures.

Actively listening to the voice of the business community

09:39 | 12/12/2024 Customs

VCN - Recognizing the Customs-business relationship as a long-term partnership, the Customs authority has organized hundreds of dialogues with businesses since the beginning of the year. These efforts aim to promptly address challenges, resolve obstacles, and facilitate import-export activities. Such meetings offer an opportunity for the Customs authority and the business community to exchange, share insights, and find solutions to enhance operational quality and efficiency.

Step up negotiations on customs commitments within the FTA framework

09:44 | 08/12/2024 Regulations

VCN - Promoting negotiations on customs commitments within the framework of free trade agreements (FTAs) plays an important role in facilitating import and export activities. These commitments not only help optimize the customs clearance process but also minimize costs and risks for businesses, opening up great opportunities for Vietnamese goods to access deeper into the international market.

Proposal to amend regulations on goods circulation

13:45 | 06/12/2024 Regulations

VCN - To perfect the policy on customs procedures, inspection and supervision, enterprises and associations have contributed many ideas from practical activities. Thereby, the Drafting Committee (General Department of Customs) has more perspectives to build policies to meet the goal of facilitating trade and ensuring state management of customs.

More News

Review of VAT exemptions for imported machinery and equipment

10:31 | 05/12/2024 Regulations

VCN - The General Department of Vietnam Customs has directed provincial and municipal customs departments to review, inspect, and address issues related to the implementation of VAT exemption policies for specialized machinery and equipment used in agricultural production.

Customs tightens oversight on e-commerce imports

13:39 | 04/12/2024 Regulations

VCN - The General Department of Vietnam Customs has issued new directives to enhance the management of imported goods transacted through e-commerce platforms, addressing ambiguities and ensuring consistent enforcement across provincial and municipal customs departments.

Bringing practical experience into customs management policy

13:48 | 03/12/2024 Regulations

VCN - At the workshop to collect opinions from Southern Customs units on the draft Decree amending and supplementing Decree 08/2015/ND-CP dated January 21, 2015 of the Government; the draft Circular amending and supplementing Circular 38/2015/TT-BTC dated March 25, 2015 and Circular 39/2018/TT-BTC dated April 20, 2018 of the Minister of Finance, organized by the General Department of Customs last weekend, many Southern Customs units contributed specific contents from practical operations in the locality.

Businesses anticipate new policies on customs procedures and supervision

15:41 | 29/11/2024 Regulations

VCN - With this year’s import-export turnover estimated at nearly US$800 billion and forecasting to surpass this milestone next year, the business community holds high expectations for upcoming amendments and supplements to customs management, procedures, and supervision policies. These changes are expected not only to facilitate trade but also to enhance state management efficiency and support economic development.

Do exported foods need iodine supplementation?

11:06 | 29/11/2024 Regulations

VCN - Currently, Vietnamese processed food products, including seafood products, have been exported to more than 160 countries, and no country has yet required that "salt used in food processing must be salt with added iodine".

Amendments to the Value-Added Tax Law passed: Fertilizers to be taxed at 5%

13:43 | 28/11/2024 Regulations

VCN - With the majority of National Assembly deputies voting in favor, the National Assembly officially approved the revised Value-Added Tax (VAT) Law during its afternoon session on November 26, 2024, as part of the 8th session's agenda.

Proposal to change the application time of new regulations on construction materials import

08:52 | 26/11/2024 Regulations

VCN - To comply with the circular on quality management of construction materials, many businesses importing this item are complaining about difficulties and asking for an extension of the implementation time.

Ministry of Finance proposed to reduce VAT by 2% in the first 6 months of 2025

09:00 | 24/11/2024 Regulations

VCN - In order to promote the early recovery and development of production and business activities, contributing back to the State budget, the Ministry of Finance proposed to continue reducing 2% of VAT on groups of goods and services currently subject to a tax rate of 10% in the first 6 months of 2025.

Hanoi Customs resolves tax policy queries for enterprises

09:26 | 22/11/2024 Regulations

VCN - Queries regarding customs consultation procedures and tax refunds due to price reduction clauses were addressed by the Hanoi Customs Department, providing clarity for businesses.

Your care

Latest Most read

New regulations on procurement, exploitation, and leasing of public assets

09:17 | 15/12/2024 Regulations

Decree No. 114/2024/ND-CP, which amends and supplements certain articles of Decree No. 151/2017/ND-CP detailing the implementation of the Law on Management and Use of Public Assets, introduces significant changes.

Actively listening to the voice of the business community

09:39 | 12/12/2024 Customs

Recognizing the Customs-business relationship as a long-term partnership, the Customs authority has organized hundreds of dialogues with businesses since the beginning of the year

Step up negotiations on customs commitments within the FTA framework

09:44 | 08/12/2024 Regulations

VCN - In addition to promoting negotiations on customs commitments within the framework of FTAs under negotiation, the General Department of Customs actively supports businesses to effectively utilize commitments in signed FTAs, especially CPTPP, EVFTA,

Proposal to amend regulations on goods circulation

13:45 | 06/12/2024 Regulations

VCN - The Vietnam Association of Maritime Agents, Brokers and Services has proposes to amend and supplement regulations related to the transport of goods subject to customs supervision.

Review of VAT exemptions for imported machinery and equipment

10:31 | 05/12/2024 Regulations

The General Department of Vietnam Customs has directed provincial and municipal customs departments to review, inspect, and address issues related to the implementation of VAT exemption policies for specialized machinery and equipment used in agricultural