Conditions for price reduction of imported goods

By Nu Bui/Ngoc Loan

15:38 | 06/05/2024 Regulations Follow english.haiquanonline.com.vn on

VCN - To meet the price reduction conditions, the documents, sales contracts, and price reduction agreements must state the reason for the price reduction.

	Ministry of Finance’s comments on electricity price reduction for three months
	Gasoline price reduction - reducing cost burden

Conditions for price reduction of imported goods

Officers of Vinh Phuc Customs Branch at work. Photo: Ngoc Linh

The General Department of Vietnam Customs has given a specific response to FCC Vietnam Co., Ltd. on reducing prices of imported components between the company and some export partners.

The GDVC cites Point d, Clause 2, Article 15 of Circular 39/2015/TT-BTC stipulating discount, discount conditions, documents, declaration procedures, and application for price discount.

According to the regulations, the GDVC said that the company does not meet requirements of price reduction.

In the sales contract, the company's price reduction agreement shows the unit price that has not been reduced and the unit price has been reduced, but does not show the reason for the price reduction. Therefore, there is no basis to determine discounts as per item d.1.1, point d, clause 2, Article 15 of Circular 39/2015/TT-BTC.

In addition, the payment terms in the sales contract and commercial invoice show that the payment method is TT, which is inconsistent with regulations specified in item d.1.4, point d, clause 2, Article 15 of the Circular. 39/2015/TT-BTC (the payment method must be L/C or TTR).

The GDVC said that the company has not yet met requirements of price reduction.

By Nu Bui/Ngoc Loan

Tags:

price reduction import import-export goods

Related News

Promoting agricultural exports to the Japanese market

13:55 | 22/12/2024 Import-Export

VCN - Japan's high-quality standards have become a driving force for continuous improvement in Vietnamese agricultural products to meet global consumer expectations and build a strong brand for Vietnamese agricultural products on the world map.

An Giang Customs issues many notes to help businesses improve compliance

09:29 | 20/12/2024 Customs

VCN - On December 17, An Giang Customs Department held a dialogue conference with over 50 import-export enterprises in the area. This is the second dialogue conference organized by An Giang Customs Department this year.

Total import-export turnover reaches US$715.55 billion in 11 months

10:23 | 13/12/2024 Import-Export

VCN - In November, total import-export turnover amounted to US$66.4 billion, down 4.1% compared to the previous month but up 9.0% compared to the same period last year.

Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2024

09:40 | 12/12/2024 Customs Statistics

The Vietnam Customs Statistics announced that in the first half (01-15/11/2024) of November-2024, Vietnam’s total exports of US dollars 16.73 billion and imports of US dollars 16.7 billion resulted in a trade surplus of nearly US dollars 31 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of November was US dollars 33.44 billion, down by 9.7% as compared to the second half of October-2024.

Latest News

Resolve problems related to tax procedures and policies for businesses

13:54 | 22/12/2024 Regulations

VCN - Immediately after the end of the Dialogue Conference between the Ministry of Finance and enterprises on tax and customs policies and administrative procedures in 2024, the General Department of Customs proactively removed obstacles related to tax procedures and policies for the business community.

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.

More News

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.

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.

Your care

Latest Most read

Resolve problems related to tax procedures and policies for businesses

13:54 | 22/12/2024 Regulations

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.