How to consider the price of material overages that passed through domestic consumption?
HCM City Customs officials inspected imported materials of fabric materials. Photo: Thu Hòa |
Vietnam Textile and Apparel Association said that: for the imported raw materials and accessories for export production or export processing that are out of date and reject products passed through domestic consumption, the customs authorities would apply tax based on the price as listed in the import declarations although the value of goods were negligible. The Vietnam Textile and Apparel Association also proposed to be taxed at the actual selling price as written on the sale invoice.
According to the General Department of Vietnam Customs, pursuant to Clause 2, Article 17 of the Circular No. 39/2015/TT-BTC of Ministry of Finance dated 25/3/2015, the case of imported goods used in Vietnam that changed the using purpose compared with the purpose determined already to be not subject to tax, duty free, tax exemption consideration, customs valuation as actual value which has already been paid or will be paid at the time of changing using purpose. It will be determined by following the principle and customs valuation methods as prescribed in this Circular.
Hence, according to these regulations, the General Department of Vietnam Customs thought that for the case of materials and accessories after export production if changing the use purpose, the dutiable value would be determined based on the actual sale prices in accordance with the method of determination of taxable value as stipulated in Clause 2, Article 17 of Circular No. 39/2015/TT-BTC.
With the material overage after export production, if the using purpose is changed with the quality, and commercial value is no longer the same, the dutiable value will be determined based on the actual price at the time of changing using purpose in accordance with the Clause 2, Article 17 of Circular No. 39/2015/TT-BTC
The General Department of Vietnam Customs stressed that the Customs authorities would conduct inspection and handle inspection results in accordance with the provisions of the Customs Law and Decree No. 08/2015/ND-CP, which was amended and supplemented in the Decree No. 59 / 2018/ND-CP and the Circular 39/2018/TT-BTC amending and supplementing a number of articles of the Circular 38/2015/TT-BTC and the Circular No. 39/2015/TT-BTC of Ministry of Finance.
Related News
Handling tax debts for imported goods under the type of processing
10:21 | 25/08/2024 Regulations
Tax refund applied for imported raw material serving for export production
14:43 | 07/08/2024 Regulations
Hanoi Customs: Thoroughly addressing the concerns of processing, export production, and export processing enterprises
09:36 | 31/05/2024 Regulations
Hanoi Customs held dialogues with businesses on policies on export processing and production
09:40 | 22/05/2024 Customs
Latest News
"One law amending four laws" on investment to decentralize and ease business challenges
16:44 | 01/11/2024 Regulations
One law amending seven financial laws: New driving force for economic growth
16:34 | 01/11/2024 Regulations
Ensure harmony of interests of “3 parties” when applying 5% VAT on fertilizers
08:54 | 30/10/2024 Regulations
Tax, fee, and land rent exemption, reduction, and deferral policies: a driving force for business recovery and growth
11:34 | 27/10/2024 Regulations
More News
Revamping commodity management and trade protection
11:26 | 26/10/2024 Regulations
Tax support policy is a "lift" for business bounceback
14:52 | 24/10/2024 Regulations
VAT policy for on-the-spot imports
13:44 | 23/10/2024 Regulations
Applying tax on animal feed ingredient faces problems due to specialized regulations
10:17 | 21/10/2024 Regulations
Ministry of Finance proposes to choose the option of reducing land rent by 30% in 2024
15:29 | 20/10/2024 Regulations
Ensuring reasonableness upon enforcement of regulations in "1 law amending 7 laws"
00:00 | 19/10/2024 Regulations
Ensuring global trade security requires cooperation, exchange and processing of information before the goods arrive
10:29 | 18/10/2024 Regulations
New regulations on foreign indirect investment in Vietnam drafted
13:46 | 15/10/2024 Regulations
Considering amending regulations on suspension from exit due to tax arrears
09:30 | 15/10/2024 Regulations
Your care
"One law amending four laws" on investment to decentralize and ease business challenges
16:44 | 01/11/2024 Regulations
One law amending seven financial laws: New driving force for economic growth
16:34 | 01/11/2024 Regulations
Ensure harmony of interests of “3 parties” when applying 5% VAT on fertilizers
08:54 | 30/10/2024 Regulations
Tax, fee, and land rent exemption, reduction, and deferral policies: a driving force for business recovery and growth
11:34 | 27/10/2024 Regulations
Revamping commodity management and trade protection
11:26 | 26/10/2024 Regulations