Why are many oil tanks suspended customs procedures for petroleum imports and exports?

VCN – The reason for oil tanks being suspended is that many enterprises have not completed the installation of measuring devices which must be connected online to provide data on amounts of oil and petroleum products stored to customs authorities.
Dinh Vu petroleum depot
Dinh Vu petroleum depot

According to the General Department of Vietnam Customs (GDVC), to ensure the requirements of state management in the field of customs, combat trade fraud for petroleum products imports, exports, temporarily import and re-export, on June 15, 2020, the Government issued Decree No. 67/2020/ND-CP amending and supplementing a number of articles of Decree No. 68/2016/ND-CP dated July 1, 2016 on trading of duty-free goods, storage facilities, locations for customs clearance procedures, commodity gathering, customs inspection and supervision which was effective from August 10, 2020.

Accordingly, it regulates that oil depots (areas for storing petroleum for export, import, temporary import and re-export) must be equipped with measuring devices that must be connected online to provide data on amounts of oil and petroleum products stored to customs authorities.

The time limit for implementation is specified: “The key traders or petroleum traders recognized to satisfy business and customs inspection conditions shall equip measuring devices as prescribed herein within two years from the effective date of this Decree. Accordingly, until August 10, 2022, oil depots engaged in exports, imports, temporary import and re-export business must meet the above regulations.”

By the time limit prescribed by law, many enterprises have completed the installation of automatic tank metering equipment connected to Customs, but many enterprises have not completed the installation.

According to GDVC, by August 10, 2020, according to the provisions of Decree No. 67/2020/ND-CP, the GDVC will suspend the implementation of customs procedures at oil depots that do not equip measuring devices that must be connected online to customs authority, do not determine the amount of re-exported petroleum and do not collect tax on temporarily imported petrol until enterprises install measuring devices and connected to the customs authority which must meet the conditions as prescribed in Decree No. 67/2020/ND-CP.

The General Department of Vietnam Customs has issued many decisions to suspend the decision on recognizing inspection and supervision conditions for petroleum depots.

In Hai Phong, the GDVC issued a decision to suspend recognizing Cat Bi aviation fuel warehouse of the Petrolimex Aviation Fuel Joint Stock Company-Cat Bi Branch; PETEC Hai Phong petroleum depot of Hai Phong Branch of PETEC Trading and Investment Corporation; Dinh Vu petroleum depot of the 19-9 Joint Stock Company.

In HCM City, GDVC also issued a decision to suspend VK102 petroleum depot; Lam Tai Chanh Petroleum Depot of Lam Tai Chanh Petrochemical Products Trading Co., Ltd; Cat Lai oil refinery warehouse of HCM City Petroleum Company Limited; and PETEC Cai Mep petroleum depot of the Cai Mep Branch of PETEC Trading and Investment Corporation.

The decision also applies to the Can Tho Petroleum and LPG Deport of Saigon Petro Co., Ltd-Can Tho Branch; Nhat Minh Petroleum Depot of Nhat Minh Petroleum Depot Joint Stock Company; Duong Dong-An Thoi petroleum depot of Duong Dong Group Joint Stock Company's branch in Phu Quoc; Nam Song Hau petroleum depot of Nam Song Hau Petroleum Investment and Trading Joint Stock Company; Cam Ranh Aviation Fuel Warehouse of Petrolimex Aviation Fuel Joint Stock Company; Tho Xuan petroleum depot of Vietnam Aviation Fuel Company Limited; Phu Bai Petroleum Depot of Vietnam Aviation Fuel Company Limited.

According to the decision of the GDVC, within six months from the effective date of the decision, if the managing companies fail to complete the installation of measuring devices which must be connected online to provide data on amounts of oil and petroleum products stored, GDVC will revoke the decision on recognizing to have satisfied customs inspection and supervision conditions issued by the Customs authority.

By Ngọc Linh/Thanh Thuy

Related News

Off – Airport Cargo Terminal facilitates import and export enterprises

Off – Airport Cargo Terminal facilitates import and export enterprises

VCN - The method of importing and exporting goods through Off – Airport Cargo Terminal will help businesses to save time and costs of transporting goods to the airport, reduce time of carrying out customs procedures, and increase the speed of international goods transportation…
Proactive in dealing with exchange rate pressure

Proactive in dealing with exchange rate pressure

VCN - Recently, the State of Bank (SBV) withdrew VND 30,000 billion through the T-bills channel, contributing to reducing exchange rate pressure. This is just one of the moves of the monetary policy management agency to stabilize the foreign exchange market, contributing to supporting the macro economy as well as import-export business activities of enterprises.
Improve competitiveness and sustainable development of the seafood industry

Improve competitiveness and sustainable development of the seafood industry

VCN - In early 2024, seafood exports have prospered. This is the driving force that helps seafood businesses hope for a stronger recovery this year. Ms. Nguyen Thi Thu Sac, Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP) shared with Customs Magazine.
Bac Ninh Customs held a dialogue with over 200 import and export business

Bac Ninh Customs held a dialogue with over 200 import and export business

VCN - On March 21, Bac Ninh Customs Department held a dialogue of Customs-Business in 2024 with the participation of more than 500 representatives of over 200 enterprises operating imports and exports in Bac Ninh, Bac Giang and Thai Nguyen province.

Latest News

Can Tho City Customs Department’s revenue increases by 85%

Can Tho City Customs Department’s revenue increases by 85%

VCN – The revenue from items such as coal, machinery and equipment, electronic products and imported components increase, improving the revenue of Can Tho Customs Department.
Quang Tri Customs makes great effort to foster imports and exports across area

Quang Tri Customs makes great effort to foster imports and exports across area

VCN – Quang Tri Customs Department determines that accompanying businesses is a requirement and responsibility to support businesses in overcoming difficulties, contributing to the socio-economic development in the area.
Director of HCM City Customs Department Dinh Ngoc Thang is appointed Deputy Director General of Vietnam Customs

Director of HCM City Customs Department Dinh Ngoc Thang is appointed Deputy Director General of Vietnam Customs

VCN - On March 27, 2024, at the headquarters of General Department of Vietnam Customs, the Ministry of Finance held a conference to announce the Decision to appoint Mr. Dinh Ngoc Thang, Director of HCM City Customs Department to the position of Deputy Director General of Vietnam Customs. Deputy Minister of Finance Nguyen Duc Chi chaired the conference.
Propose to extend customs clearance time across La Lay International Border Gate

Propose to extend customs clearance time across La Lay International Border Gate

VCN - The People's Committee of Quang Tri province has sent an official dispatch to the Government Committee of Salavan province (Laos) on changing working hours at the pair of international border gates of La Lay (Dakrong district) and La Lay (Salavan province).

More News

Imported goods increased, customs clearance was slow at Huu Nghi international border gate

Imported goods increased, customs clearance was slow at Huu Nghi international border gate

VCN - Information from border gates in Lang Son province, in recent days, the number of imported goods and vehicles entering Vietnam through Huu Nghi international border gate has increased, leading to slow customs clearance activities.
Pilot customs clearance for passengers using passports and entry and exit permits across Bac Luan II Bridge

Pilot customs clearance for passengers using passports and entry and exit permits across Bac Luan II Bridge

VCN – Mong Cai City People’s Committee has just piloted customs clearance for passengers using passports and entry and exit permits across Mong Cai International Border Gate in Bac Luan II Bridge on Saturday and Sunday.
Hai Phong and Quang Ninh Customs Departments promote cooperation

Hai Phong and Quang Ninh Customs Departments promote cooperation

VCN – The cooperation between Hai Phong and Quang Ninh Customs Departments has achieved many practical and effective results.
HCM City: Export production and processing enterprises drop sharply

HCM City: Export production and processing enterprises drop sharply

VCN - The number of processing and export production enterprises completing procedures at the Processing Customs Branch - HCM City Customs Department in 2023 decreased by more than 31% compared to 2022. It is only about 1,200 enterprises.
Lang Son Customs faces difficulties in tax debt recovery

Lang Son Customs faces difficulties in tax debt recovery

VCN - Recently, Lang Son Customs Department has implemented many tax debt enforcement measures to reduce tax debt to the lowest level. However, the results have not met expectations. Customs branches at border gates in the province are currently facing difficulty in collecting tax debt.
Customs finalization report is the stage to decide whether business eligible for  tax exemption or not

Customs finalization report is the stage to decide whether business eligible for tax exemption or not

VCN - Customs finalization report is the final step to decide whether the business is eligible for tax exemption or not. To do this, the business is required to implement effective internal management methods, and has transparent accounting systems and management software...
250 import-export businesses dialogue with Hai Phong City People

250 import-export businesses dialogue with Hai Phong City People's Committee

VCN - On March 20, Hai Phong City People's Committee organized a dialogue conference with import-export businesses in 2024 with the theme "Cooperation - Development - Efficiency". Participating in the Conference were representatives of 250 typical import-export enterprises carrying out procedures through the area.
Vietnam Customs plays important role in ASEAN Customs community

Vietnam Customs plays important role in ASEAN Customs community

VCN – In addition to the integration trend, Vietnam Customs’ international cooperation and integration has been deeper and more substantive, contributing to promoting the customs reform and modernization. Vietnam Customs is always an active member in implementing regional customs cooperation initiatives and programs.
Quang Ninh Customs: Striving to promote imports and exports

Quang Ninh Customs: Striving to promote imports and exports

VCN - Quang Ninh Customs Department is deploying many solutions to attract and keep enterprises as well as promote imports and exports right from the beginning of 2024 including arranging customs officers to handle procedures outside working hours; and proactively meet and remove difficulties for enterprises.
Read More

Your care

Latest Most read
Can Tho City Customs Department’s revenue increases by 85%

Can Tho City Customs Department’s revenue increases by 85%

VCN - According to report of Can Tho Customs Department, as of March 15, the department processed 26,000 declarations of imports and exports, up about 12%. The import and export turnover rose 17% year-on-year to US$ 1.1 billion.
Off – Airport Cargo Terminal facilitates import and export enterprises

Off – Airport Cargo Terminal facilitates import and export enterprises

The method of importing and exporting goods through Off – Airport Cargo Terminal will help businesses to save time and costs of transporting goods to the airport and increase the speed of international goods transportation…
Quang Tri Customs makes great effort to foster imports and exports across area

Quang Tri Customs makes great effort to foster imports and exports across area

VCN - Statistics from the Quang Tri Customs Department show that import-export, immigration, and transit activities in the area in the first quarter of 2024 soar.
Director of HCM City Customs Department Dinh Ngoc Thang is appointed Deputy Director General of Vietnam Customs

Director of HCM City Customs Department Dinh Ngoc Thang is appointed Deputy Director General of Vietnam Customs

The Ministry of Finance held a conference to announce the Decision to appoint Mr. Dinh Ngoc Thang to the position of Deputy Director General of Vietnam Customs
Propose to extend customs clearance time across La Lay International Border Gate

Propose to extend customs clearance time across La Lay International Border Gate

VCN - Special cases will be processed procedures across the border gate pair anytime and anywhere. Currently, the working hours at the border gate pair is until 7:00 p.m.
Mobile Version