Hai Phong Customs instruct to lodge finalization reports

The conference about finalization report held by Thai Binh Customs Branch attracted lots of enterprises in the area to participate. Photo provided by Thai Binh Customs.

According to Hai Phong Customs Department, Clause 1, Article 60 of Circular 38/2015/TT-BTC dated 25/3/2015 (amended and supplemented by Clause 39, Article 1 of Circular 39/2018/TT-BTC dated 20/4/2018 of the Ministry of Finance stipulates that: Periodically report on the situation of using imported raw materials and export goods to the Customs authorities by the fiscal year.

Organizations and individuals shall submit the finalization reports no later than 90 days following the end of the fiscal year or before the consolidation, merger, separation, dissolution, or transfer of premises for carrying out import procedures of raw materials to the Customs Branch about the production base in accordance with the provisions of Article 56 of this Circular through the system.

The Circulars also stipulate that: Organizations and individuals shall make and lodge finalization reports on the situation of input - output - inventory of raw materials and supplies imported for processing and export production for the Customs Branch where notified, in accordance with the information norms specified in form No. 25 Appendix II enclosed with the Circular.

Reports on the finalization of the situation of input – output - inventory of finished products that are produced from imported raw materials and supplies for export production should be completed with the information norms prescribed in form No. 26 Appendix II enclosed with the Circular.

The actual quota for production of exported product should be completed with the information norms as prescribed in form No. 27 Appendix II enclosed with the Circular.

In cases where organizations and individuals are engaged in processing activities in export production and fail to make finalization reports via the system, they would report on paper in order to ensure the deadline for submission of reports in accordance with regulations.

Regarding the situation of lodging finalization reports, in Hai Phong, on 6/4, talking to Customs News’ reporters, a leader of the Investment and Processing Customs Branch (Hai Phong Customs Department) said, currently many businesses in Vietnam choose 31/12 as the end of the fiscal year, and according to regulations the latest day to submit a finalization report is the 90th day from the end of the fiscal year. Hence, many enterprises have focused on lodging their reports at that time.

“In the Customs Branch, there were more than 400 enterprises that have to submit a finalization report, because the report form has changed this year, the unit focused on guiding the enterprises early. All problems were promptly reported to the Hai Phong Customs Department in order to report to the General Department of Vietnam Customs. The submission of the finalization reports at the unit is taking place relatively smoothly "- the leader of Investment and Processing Customs Branch said.

Besides the Investment and Processing Customs Branch, the Customs branches of Hai Phong Customs Department have many other processing enterprises involved in export production subject to lodging finalization reports: Export Processing Zone and Industrial Park Customs Branch, Hai Duong Customs Branch, Hung Yen Customs Branch and Thai Binh Customs Branch have proactive supported enterprises to lodge finalization reports.