Proposing consumer goods to transit through My Dinh ICD

	Goods in transit must have license granted by the Ministry of Industry and Trade
	Transshipment cargos are not allowed to ship between ports in the territory of Vietnam
	Goods in transit tax avoidance

Officers of North Hanoi Customs Branch inspecting Import, Export goods. Photo: HuuLinh.

As reported by the Ministry of Finance to the Prime Minister, since the implementation of the pilot of transshipment for import consumer goods in the ICD My Dinh from 31-8-2016, enterprises, as well as declaration forms, turnover and the amount of collected tax increased sharply. Specifically, just 32 enterprises to carried out proceduresin 2014, averaging 38 declarations / month, 2015 had 88 enterprises with 115 declarations / month, in the first 8 months of 2016 had 226 enterprises with 121 declarations / month.

The Ministry of Finance proposes to loosen the conditions of border gates shifting procedures for home use goods to My Dinh ICD VCN- After nearly 2 years implementing the mechanism of border gates shifting procedures for home use goods ...

With a turnover of $US 75.5 million in 2015, the turnover of the first 8 months of 2016 reached $US 101.7 million. The tax revenue for the State budget increased, until the end of August-2016, after 2 years of performance of this pilot, tax revenue reached about 2,534.37 billion VND.

The result of this facilitation bringing significant revenues to the budget.After almost 2 years of the performance of this piloit for moving consumer goods to ICD My Dinh for Customs procedures, with the benefits achieved, the Finance Ministry proposed to the Prime Minister to allow to officially applyte transshipment for import consumer goods when entering ICD My Dinh from 1-1-2017.

However, while waiting for the Prime Minister to sign the Decision, the Ministry of Finance continues to recommend to the Prime Minister to continue implementing the pilot for imported consumer goods transshipment at ICD MyDinh according to dispatch 789/TTg-KTTH, dated in 26-5-2014 of the Prime Minister (according to 789 dispatche/TTg-KTTH, this pilot expires on 31-12-2016).

About the extension of the pilot, according to the Ministry of Finance,it will ensure uninterrupted transshipment for consumer goods entering ICD My Dinh, not cause significant impact on the business of enterprises at ICD My Dinh, as well as those enterprises who are making transshipment for imported consumer goods in ICD My Dinh.