New regulations on conditions for recognition of bonded warehouses

By Huong Diu/ Ngoc Loan

19:16 | 17/06/2020 Regulations Follow english.haiquanonline.com.vn on

VCN- The Government has issued Decree 67/2020/ND-CP amending and supplementing a number of articles of Government Decree 68/2016 / ND-CP dated July 1, 2016 on conditions for duty-free businesses, warehouses, sites for customs clearance, customs inspection and supervision.

	Notes on border gate of temporary import and re-export goods
	New regulation on import-export border gate for temporary import and re-export goods
	Customs authority can accept expired C/O on force majeure clause

new regulations on conditions for recognition of bonded warehouses

Bonded warehouse at North Thang Long Industrial Park. Photo: N.L

The Decree amends and supplements regulations on conditions for recognition of bonded warehouses.

Specifically, five conditions for recognition of bonded warehouses include areas to be proposed for recognition of bonded warehouses should be located within the areas as prescribed in Clause 1, Article 62 of the Law on Customs or border-gate economic zones or areas approved by competent agencies in the development planning for logistics centers.

Bonded warehouses are separate from surrounding areas by a fence meeting requirements for regular supervision of customs agencies except warehouses in border gates andseaports already fenced off from surrounding areas.

The minimum area of a bonded warehouse in seaports, inland waterway ports, inland container depots, international airports or international railway stations should be 1,000 m2.

The minimum area of a specialized bonded warehouseshould be 1,000m2 or minimum storage volume 1,000m3.

The minimum area of bonded warehouses not subject to the above-mentioned cases should be 5,000m2 (including warehousing, storage yards and auxiliary works) of which area of warehousing should be from 1,000m2.

The minimum area of a bonded warehouse yard should be 10,000m2 without warehousing area.

In addition, a bonded warehouse must have software that meets the requirements of storing data for making statistical reportsdirectly connected to customs agencies on the name, type, quantity, status of goods, time of receipt and dispatch and storage of goods in bonded warehousesunder customs declaration forms to manage according to the automated system for customs management and supervision.

A bonded warehouse must have a camera system that is directly connected to customs agencies and monitor all positions of the bonded warehouse 24/7 (including at gates, doors and in the bonded warehouse; the installation of camera system in the bonded warehouses storing frozen goods is not required); stores data for at least 12 months.

The Decree takes effect from August 10, 2020.

By Huong Diu/ Ngoc Loan

Tags:

Related News

Accelerating decentralization in public asset management

11:26 | 26/10/2024 Finance

VCN - Amending the Law on Management and Use of Public Assets aims to improve regulations on accelerating decentralization and improving efficiency in management and use of public assets, and promoting financial resources, ensuring that the unified application the Law on Management and Use of Public Assets and other legal documents.

Ensuring reasonableness upon enforcement of regulations in "1 law amending 7 laws"

00:00 | 19/10/2024 Regulations

VCN - According to the representative of the Vietnam Chamber of Commerce and Industry (VCCI), the Ministry of Finance and the National Assembly Committees are urgently collecting opinions to complete the draft Law amending seven Laws, to ensure that the issued regulations are reasonable and remove difficulties for businesses.

Crypto Assets should be managed rather than prohibited

19:29 | 30/08/2024 Finance

VCN – The issuance of legal regulations related to crypto asset management contributes to protecting investors, enhancing tax collection capabilities and improving the ability to control money laundering activities, according to experts.

Customs responds to action month for food safety in 2024

10:22 | 10/05/2024 Customs

VCN - The General Department of Customs requires units to deploy and proactively organize food safety month with the theme "Continuing to ensure food security and safety in the new situation" in accordance with the conditions, functions, tasks and characteristics of the unit's actual operations.

Latest News

"One law amending four laws" on investment to decentralize and ease business challenges

16:44 | 01/11/2024 Regulations

VCN - According to the Government, the draft Law amending and supplementing certain provisions of the Planning Law, Investment Law, Law on Investment under Public-Private Partnerships (PPP), and Bidding Law (referred to as "One law amending four laws") focuses on amending conflicting regulations that are causing obstacles, to facilitate investment, production, and business activities.

One law amending seven financial laws: New driving force for economic growth

16:34 | 01/11/2024 Regulations

VCN - Draft 1 of the Law amending 7 laws in the financial sector has been officially submitted and discussed at the 8th session of the 15th National Assembly. According to the Law-making program, the Law will be developed and promulgated following a simplified procedure and will be approved at this session. The simultaneous amendment of many provisions in the laws in the financial sector and their early approval demonstrate the determination and great efforts of the National Assembly, the Government, and the Ministry of Finance in creating a system of open and appropriate policies, promoting investment resources in the economy, thereby promoting economic growth in the new period.

Ensure harmony of interests of “3 parties” when applying 5% VAT on fertilizers

08:54 | 30/10/2024 Regulations

VCN - In the short term, applying 5% VAT on fertilizers may increase selling prices, but in the long term, farmers will benefit from this policy. When the fertilizer manufacture is deducted input tax, it will help reduce investment cost and production cost.

Tax, fee, and land rent exemption, reduction, and deferral policies: a driving force for business recovery and growth

11:34 | 27/10/2024 Regulations

Recently, the implementation of a series of policies on tax, fee, and land rent exemption, reduction, and deferral has provided timely support for businesses to recover and develop, thereby making positive contributions to economic growth.

More News

Revamping commodity management and trade protection

11:26 | 26/10/2024 Regulations

VCN - Completing commodity management policies combined with applying trade defense measures plays an important role in protecting the interests of businesses and the Vietnamese economy. Close coordination between management agencies not only helps prevent trade fraud but also creates favorable conditions for exporting businesses, minimizing risks from anti-dumping lawsuits.

Tax support policy is a "lift" for business bounceback

14:52 | 24/10/2024 Regulations

VCN- Sharing with Customs Magazine, economic expert, Associate Professor, Dr. Dinh Trong Thinh highly appreciated the effectiveness of tax and fee reduction measures implemented by the Government and the Ministry of Finance. These policies not only enable businesses to reduce input costs and increase profits, but also promote consumption and production of businesses.

VAT policy for on-the-spot imports

13:44 | 23/10/2024 Regulations

VCN- The General Department of Vietnam Customs has instructed Dong Nai Food Industry Corporation on VAT policy for imported tobacco leaves separated from stems.

Applying tax on animal feed ingredient faces problems due to specialized regulations

10:17 | 21/10/2024 Regulations

VCN - The unified application of regulations of specialized legal documents related to value-added tax (VAT) policies on imported raw materials for animal feed has caused many problems. Notably, the accurate identification for imported raw materials for animal feed not only causes difficulties for the enterprise but also for the enforcement authority.

Ministry of Finance proposes to choose the option of reducing land rent by 30% in 2024

15:29 | 20/10/2024 Regulations

VCN - The Ministry of Finance has just completed the draft Decree of the Government regulating the reduction of land rent in 2024. Accordingly, in the latest Draft, the Ministry of Finance directly proposed to choose the reduction level according to option 2 of 30%.

Ensuring global trade security requires cooperation, exchange and processing of information before the goods arrive

10:29 | 18/10/2024 Regulations

VCN - As import and export activities increase, security risks also increase. Therefore, to meet the requirements of both strict security control and shortening clearance time, facilitating trade, one of the effective solutions is to cooperate, exchange and process information before the goods arrive.

New regulations on foreign indirect investment in Vietnam drafted

13:46 | 15/10/2024 Regulations

The State Bank of Vietnam (SBV) is drafting a circular to better manage foreign investment protocols and hopefully make them speedier.

Considering amending regulations on suspension from exit due to tax arrears

09:30 | 15/10/2024 Regulations

VCN - To facilitate the implementation of suspension from exit, the General Department of Taxation directs specialized units to study and amend and supplement current regulations to ensure both improving the efficiency of tax debt collection and creating conditions for enterprises and taxpayers to develop stable production and business as well as facilitate travel and trade activities.

How to handle export processing enterprises forgetting to open a corresponding import declaration

09:17 | 14/10/2024 Regulations

VCN - From 2014 to 2019, Dragonjet Vietnam Co., Ltd. (headquartered in Que Vo Industrial Park, Bac Ninh) opened 17 on-site export declarations of domestic enterprises, however, the company “forgot” to open a corresponding import declaration. Dragonjet Vietnam Co., Ltd proposed the Customs authority to instruct tax procedures and policies and whether failure to register a corresponding declaration will result in tax imposition?

Your care

Latest Most read