Ministry of Finance requests Ministry of Public Security to verify information on violations in rice export

VCN –On April 20, Minister of Finance Dinh Tien Dung signed Official Letter No. 4763 / BTC-VP and sent it to Minister of Public Security To Lam to investigate and verify negative information on rice export activities.

ministry of finance requests ministry of public security to verify information on violations in rice export Trade ministry proposes resuming rice exports
ministry of finance requests ministry of public security to verify information on violations in rice export Ministry proposes limiting rice exports to 400,000 tonnes per month
ministry of finance requests ministry of public security to verify information on violations in rice export Temporary suspension of rice exports given thumbs-up
ministry of finance requests ministry of public security to verify information on violations in rice export
The rice export has been implemented by the General Department of Customs based on the principle of quota management. Photo: internet.

Indicators set as soon as receiving the Decision on quota management of the Ministry of Industry and Trade

In the official letter, the Ministry of Finance states that recently, a lot of information on mass media, social networks and some businesses reflected on rice export activities in the context of ensuring food security amid the Covid-19 pandemic.

Speaking about rice exports, the Ministry of Finance says: On April 10, 2020, the Minister of Industry and Trade issued Decision No. 1106 / QD-TCT announcing rice export quotas in April 2020.

In this Decision there are some principles for quota management. Specifically, traders who register for a previous customs declaration will be deducted from the previous export quota. The quantity declared on the registered customs declaration will be subtracted from the permitted export amount in April 2020.

if the customs declarations are invalid for customs clearance or the actual export quantity is less than the quantity declared in the customs declaration, the difference shall be added to the permitted export amount in April 2020.

The declarations are valid for customs clearance until the total declared export quantity reaches 400,000tonnes (customs declarations with a quantity in excess of 400,000 tonnes are no longer valid for customs clearance).

If the customs declarations are no longer valid for customs clearance or the actual export quantity is less than the quantity declared, the difference shall be added to the permitted export amount in April 2020.

Following the Prime Minister's conclusion at the Government's Standing Committee meeting on food security in the context of the Covid-19 epidemic, the General Department of Customs has suspended the opening of rice export customs declarations from 0:00 on March 24, 2020

Based on the principle of quota management, the General Department of Customs has set up information indicators on Vietnam Automated Cargo and Port Consolidated System and Vietnam Customs Intelligence Information System to automatically monitor and subtract the rice quantity within the permittedexport quota. This has been applied from April 12, 2020.The above decision of the Ministry of Industry and Trade takes effect from 0:00 on April 11, 2020 but at this time, the General Department of Customs has not received the official version from this Ministry, until 9:30am April 11, 2020, the General Department of Customs received the copy. On April 13, 2020, the General Department of Customs received the official version.

The subtraction will be automatically performed by the systems as soon as the customs declarant sends information of the customs declaration to the system according to the principle of pre-registered customs declaration which will be deducted from the previous export quota and the system will automatically stop receiving information on registration of customs declarations if the registered quantity reaches the export quota, without the intervention of customs officers.

Suspected violations of rice export needs verifying

The Ministry of Finance also cited some statistics from the system of the General Department of Customs.

From 0.00 to 6.15 am on April 12, 2020, 38 enterprises registered 519 rice export declarations with an amount of 399,989.43 tonnes.

At this time, the rice export quota was only 10.57 tonnes, so enterprises that continued to register for rice export declarations with amount higher than 10.57 tonnes were not accepted by the system.

After the aforementioned time, two enterprises that registered two declarations with the amount less than 10.57 tonneswere received by the system. They were nine tones at 3.10pm and 1.2 tonnes at 7.34pm.

In the official letter sent to the Minister of Public Security, the Ministry of Finance said that currently, a number of media and social media as well as some rice exporters have posed many negative questions regarding the organization of rice export activities.

To ensure the objectivity, transparency andunification on information reflected by the press, enterprises and social networks, the Ministry of Finance requested the Minister of Public Security to assign competent agencies to consider and investigate, verify and clarifythe above contents to strictly handle all acts of law violation by organizations and individuals in rice export activities as well as handling responsibilities of organizations and individuals giving misrepresented and false information.

On April 20, the Minister of Finance also issued a written request to the Director of the General Department of Customs to urgently organize inspections and verifications to clarify the contents reflected by the press, social networks and enterprises on the doubts in the intervention of customs officers and customs agencies about the opening of rice export declarations; and strictly handle violations of individuals and organizations according to the provisions of law.

ministry of finance requests ministry of public security to verify information on violations in rice export Vietnam eyes opportunities for rice exports to Senegal

Vietnam’s rice exports to Senegal enjoyed a sharp increase compared to 2018, with an export volume of ...

This inspection and investigation must be reported to the Minister before April 30, 2020.

By Hong Van/ Huyen Trang

Related News

How does the Land Development Fund work effectively?

How does the Land Development Fund work effectively?

VCN - Speaking at the Conference to collect opinions on the draft Government Decree regulating the Land Development Fund held by the Ministry of Finance on April 22, Deputy Minister of Finance Bui Van Khang emphasized the necessity of the development of the Government Decree regulating the Land Development Fund.
Lang Son Finance, Tax and Customs agencies needs to proactively capture information to develop the border gate economy

Lang Son Finance, Tax and Customs agencies needs to proactively capture information to develop the border gate economy

VCN - That was the direction of Deputy Minister of Finance Nguyen Duc Chi at a working session with leaders of the Provincial People's Committee and the Lang Son Departments of Finance, Tax, and Customs on March 19.
Bilateral financial dialogue between Vietnam and Japan

Bilateral financial dialogue between Vietnam and Japan

VCN - The Ministry of Finance of Vietnam and the Ministry of Finance of Japan just held a bilateral online financial dialogue on the afternoon of December 19. At the dialogue, the representative of the Ministry of Finance of Vietnam highly appreciated the support and experience sharing of the Japanese side in the fields of tax cooperation, customs, securities and especially natural disaster insurance.
Finance sector determined to accompany, support businesses and people

Finance sector determined to accompany, support businesses and people

VCN - Speaking at the Dialogue Conference on Tax and Customs administrative procedures and policies in 2023 held on the morning of December 13, Deputy Minister of Finance Cao Anh Tuan said that facing the difficult economic forecasts, the Ministry of Finance will continue to closely monitor the actual situation to offer appropriate solutions to support businesses.

Latest News

Strictly monitor market fluctuations to appropriately adjust prices

Strictly monitor market fluctuations to appropriately adjust prices

VCN – In the second quarter and the remaining months of 2024, the price management and administrations need to effectively control inflation and remove difficulties for production and businesses, the Ministry of Finance reports.
Closely monitoring market fluctuations to consider appropriate time to adjust prices

Closely monitoring market fluctuations to consider appropriate time to adjust prices

VCN - According to a report from the Ministry of Finance, in the second quarter and the remaining months of 2024, price management and administration need to ensure good control of inflation and continue to remove difficulties for production and business.
Vietnam seeks to remove obstacles in upgrade of securities market

Vietnam seeks to remove obstacles in upgrade of securities market

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Price stability from supply increase and transparency in trading in gold market

Price stability from supply increase and transparency in trading in gold market

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electronic invoices as well as pay taxes in gold investment activities.

More News

SBV takes more actions to stabilise foreign exchange rates

SBV takes more actions to stabilise foreign exchange rates

The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.
Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

Proposal to exclude criminal liability for tax officials when businesses provide false information to refund VAT

VCN - The revised Draft Law on Value Added Tax (VAT), besides inheriting many provisions from the current Law, also revises and supplements several contents to suit the actual situation, including some notable contents in VAT refund.
Corporate bond maturity in 2024 remains high: MoF

Corporate bond maturity in 2024 remains high: MoF

The volume of corporate bonds maturing in 2024, though lower than that in 2023, is till at a high level, mostly in industries with payment risks such as real estate and renewable energy, according to a report by the Ministry of Finance (MoF).
Support clearance procedures for imported gold for bidding

Support clearance procedures for imported gold for bidding

VCN - The State Bank (SBV) has sent a document to competent ministries and branches requesting coordination in implementing the Prime Minister's direction in gold market management.
The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

The exchange rate will gradually cool down from the end of the second quarter of 2024, while interest rates will remain low

VCN - According to forecasts, Vietnam's financial sector in 2024 will be more positive, with the exchange rate gradually cooling down from the end of the second quarter of 2024, while interest rates will remain low to promote growth.
Majority of credit institutions forecast profit growth in 2024

Majority of credit institutions forecast profit growth in 2024

A total of 86.2% of credit institutions expect their profit this year to grow compared to 2023, according to the latest survey of the State Bank of Vietnam (SBV).
Central bank plans to auction gold bars on April 22

Central bank plans to auction gold bars on April 22

The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.
Read More

Your care

Latest Most read
Strictly monitor market fluctuations to appropriately adjust prices

Strictly monitor market fluctuations to appropriately adjust prices

VCN – In the second quarter and the remaining months of 2024, the price management and administrations need to effectively control inflation and remove difficulties for production and businesses, the Ministry of Finance reports.
Closely monitoring market fluctuations to consider appropriate time to adjust prices

Closely monitoring market fluctuations to consider appropriate time to adjust prices

VCN - According to a report from the Ministry of Finance, in the second quarter and the remaining months of 2024, price management and administration need to ensure good control of inflation and continue to remove difficulties for production and business.
How does the Land Development Fund work effectively?

How does the Land Development Fund work effectively?

Deputy Minister of Finance Bui Van Khang emphasized the necessity of the development of the Government Decree regulating the Land Development Fund.
Vietnam seeks to remove obstacles in upgrade of securities market

Vietnam seeks to remove obstacles in upgrade of securities market

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.
Price stability from supply increase and transparency in trading in gold market

Price stability from supply increase and transparency in trading in gold market

VCN - To stabilize the gold market, economic expert Prof.Dr. Tran Tho Dat, a member of the Prime Minister's Economic Advisory Group, said that it is necessary to implement solutions to make all transactions transparent in the gold market, implement electr
Mobile Version