Regulations on environmental protection deposit for scrap imports

VCN – The Government promulgated Decree 08/2022/NĐ-CP stipulating a number of articles of the Law on environmental protection. In particular, it mentioned the provision for environmental protection deposits in the import of scrap to be used as raw material for manufacturing.
Illustration photo. Photo: N.Linh
Illustration photo. Photo: N.Linh

Accordingly, the environmental protection deposit aims to ensure that individuals and organizations importing scrap must take responsibility in handling environmental risks arising from imported scrap.

Organizations and individuals importing scrap shall make deposits at the Vietnam Environment Protection Fund, or local Environment Protection Fund or credit institutions where transaction accounts were opened (organization receiving deposit). The deposit will be carried out for each shipment or each transaction with information and value on the imported scrap.

The deposit must be submitted and refunded in Vietnamese Dong and enjoys the interest rate in agreement in accordance with the law.

Organizations and individuals importing steel scrap must make environmental protection deposits in the import of raw materials from abroad for manufacturing with a fixed amount as follows: Import volume less than 500 tons must make a deposit of 10% of the total value of imported raw materials; import volume from 500 tons to less than 1,000 tons must pay a deposit of 15% of the total value of exported goods; import volume of 1,000 tons or more must make a deposit of 20% of the total shipment value.

Organizations and individuals importing papers and plastic scrap must make an environmental protection deposit with the specified amount as follows: Import volume less than 100 tons must make a deposit of 15% of the total value of the imported shipment; import volume from 100 tons to less than 500 tons must make a deposit of 18% of the total value of export shipments; import volume of 500 tons or more must make a deposit of 20% of the total shipment value.

Organizations and individuals importing scrap that is not specified above shall make an environmental protection deposit with an amount defined as 10% of the total value of the shipment.

Managing environmental protection deposit

The Decree also manages regulations and uses of environmental protection deposits for imported scrap. Specifically, the organization receiving the deposit is responsible for blocking the deposit in accordance with legal regulations.

The deposit-receiving organization is responsible for returning the deposit to the importing organization or individual after receiving a request from the importing organization or individual, together with information on the customs declaration number of the imported shipment that already cleared or information about the cancellation of the import customs declaration of the customs authority, or accepted to complete the decision on re-export or destruction in accordance with the provisions of the law on scrap management.

The treatment and destruction of imported scrap in violation must comply with regulations on waste management. Violating organizations and individuals are responsible for reaching an agreement with competent units to treat and destroy infringing waste and scrap; the unit handling and destroying imported scrap in violation must be recorded in the sanctioning decision of the person competent to sanction administrative violations as prescribed by law.

In case it is not possible to identify the violating organization or individual importing scrap, the handling and destruction of the scrap shall be carried out by the State in accordance with the law.

In case the deposit is left over after payment for handling the infringing shipment of imported scrap, within 5 days from the date of receiving the opinion on the completion of the treatment and destruction process for scraps of the sanctioned competent authority in accordance with the provisions of the law on sanctioning of administrative violations in the field of environmental protection, the organization receiving the deposit is responsible for returning the remaining deposit to the organizations and individuals importing scrap.

By Hương Dịu/Thanh Thuy

Related News

Resolve bottlenecks to upgrade the stock market

Resolve bottlenecks to upgrade the stock market

VCN - Although Vietnam has many opportunities to upgrade its stock market, this is an extremely difficult problem. In order to achieve the goal of upgrading, it requires initiative, positivity and an approach to solve the issue in a more drastic, comprehensive and effective way.
Deposit rate continues to drop but lower lending rate remains challenge

Deposit rate continues to drop but lower lending rate remains challenge

Commercial joint stock banks continued to lower deposit interest rates early this month – a move that raises hope of a fall in lending rates.
Strengthening Customs’ role in implementing green trade policies

Strengthening Customs’ role in implementing green trade policies

VCN - This was a topic raised at the 139/140th Session of the WCO Council (World Customs Organization - WCO) on June 23 – June 25, 2022 and the Green Customs Global Conference, which takes place from June 27- June 28, 2022.
Banks continue savings interest rates “race”

Banks continue savings interest rates “race”

VCN - The interest rate level for savings accounts continued to increase in the early days of June 2022, and the interest rate "race" now has the participation of the "big" banks.

Latest News

General Department of Taxation reviews draft regulations on loan interest expense cap

General Department of Taxation reviews draft regulations on loan interest expense cap

The GDT said that it has coordinated with six local tax departments to organise a conference to review a draft decree that amends and supplements Decree 132/2020/NĐ-CP on tax management for enterprises with associated transactions.
The Government regulated four land valuation methods

The Government regulated four land valuation methods

VCN - The Government promulgated Decree 12/2024/NĐ-CP amended and supplemented Decree 44/2014/NĐ-CP dated May 15th, 2014 stipulated on land prices and Decree 10/2023/NĐ-CP dated April 3rd, 2023 amended and supplemented to several articles of decrees on instructions for implementation of the law on land. In particular, the Decree has regulated specifically four land valuation methods.
Government issues new regulations on land valuation

Government issues new regulations on land valuation

The domestic real estate market will have four land valuation methods instead of the current five methods, according to a new decree issued by the Government on February 5.
Proposing to have information sharing mechanism in price management

Proposing to have information sharing mechanism in price management

VCN - In the draft Decree detailing and implementing measures for a number of articles of the 2023 Price Law, the Ministry of Finance has proposed many specific tasks for price stabilization as well as market price analysis and forecasting.

More News

Policy on imported goods for export processing without a processing facility

Policy on imported goods for export processing without a processing facility

VCN - The General Department of Customs has just instructed the Hanoi Customs Department to implement regulations on importing goods for export processing without a processing facility in Vietnamese territory.
Proposing for state-owned enterprises to divest capital from loss-making enterprises

Proposing for state-owned enterprises to divest capital from loss-making enterprises

VCN - The Ministry of Finance is proposing to amend regulations on removing obstacles for enterprises in which the State holds more than 50% of charter capital in the direction of building a legal basis for these enterprises to divest capital from other enterprises suffer losses or have accumulated losses.
Untangling procedures for companies to import new products

Untangling procedures for companies to import new products

VCN - According to Da Nang Customs Department, during the customs procedures, the department received feedback from companies that want to expand their range of new products but are unsure about the correct customs declaration procedures and wish to avoid errors/subsequent administrative penalties.
Proposal for state-owned enterprises to divest capital from loss-making enterprises

Proposal for state-owned enterprises to divest capital from loss-making enterprises

VCN - The Ministry of Finance is proposing to amend regulations on removing obstacles for enterprises in which the State holds more than 50% of charter capital in the direction of building a legal basis for these enterprises to divest capital from other enterprises which suffer losses or have accumulated losses.

VAT to be reduced by 2% from January 1

The value-added tax (VAT) for most of goods and services will be cut by 2% from January 1, 2024.
Restricting scrap import can affect many businesses

Restricting scrap import can affect many businesses

VCN - According to the Vietnam Confederation of Commerce and Industry (VCCI), regulations restricting scrap import can affect the operations of many businesses, so they need to be regulated according to a specific long-term roadmap.
Restrict the import of scrap can affect many businesses

Restrict the import of scrap can affect many businesses

VCN - According to the Vietnam Confederation of Commerce and Industry (VCCI), regulations restricting scrap imports can affect the operations of many businesses, so they need to be regulated according to a specific long-term roadmap.
The Government clearly stipulates the responsibilities of each agency in preventing and combating counterfeit money

The Government clearly stipulates the responsibilities of each agency in preventing and combating counterfeit money

VCN - The Government signed and promulgated Decree No.87/2023/ND-CP regulating the prevention and combat of counterfeit money and the protection of Vietnamese currency (Decree 87). The Decree takes effect from February 2, 2024.
The output reduction of the Tax Incentive Program for automobile manufacturing and assembly has not been considered

The output reduction of the Tax Incentive Program for automobile manufacturing and assembly has not been considered

VCN - According to the Ministry of Finance, the proposal to continue reducing the output of the current Tax Incentive Program for automobile manufacturing and assembly is not appropriate.
Read More

Your care

Latest Most read
General Department of Taxation reviews draft regulations on loan interest expense cap

General Department of Taxation reviews draft regulations on loan interest expense cap

The GDT said that it has coordinated with six local tax departments to organise a conference to review a draft decree that amends and supplements Decree 132/2020/NĐ-CP on tax management for enterprises with associated transactions.
The Government regulated four land valuation methods

The Government regulated four land valuation methods

The Government promulgated Decree 12/2024/NĐ-CP regulating specifically four land valuation methods.
Government issues new regulations on land valuation

Government issues new regulations on land valuation

The domestic real estate market will have four land valuation methods instead of the current five methods, according to a new decree issued by the Government on February 5.
Proposing to have information sharing mechanism in price management

Proposing to have information sharing mechanism in price management

VCN - In the draft Decree detailing and implementing measures for a number of articles of the 2023 Price Law, the Ministry of Finance has proposed many specific tasks for price stabilization as well as market price analysis and forecasting.
Policy on imported goods for export processing without a processing facility

Policy on imported goods for export processing without a processing facility

VCN - The General Department of Customs has just instructed the Hanoi Customs Department to implement regulations on importing goods for export processing without a processing facility in Vietnamese territory.
Mobile Version