Nov. 10 – Vietnam’s General Department of Customs (GDC) has announced a new price database for dutiable products imported into the country and guidelines on how to inspect declared values.
The GDC letter instructs customs department on how they can the customs value of imported goods when the declared company prices are lower than than that in the database.
The price database will be used for assessing risks and not to use it attach customs value of imported goods by imposing a minimum value. In the instance that a company declares a customs value lower than the price of identical or similar goods stated in the price database and are unable to explain the price difference then database prices may be used.
According to PricewaterhouseCoopers, the mentioned goods with the following Harmonized System (HS) codes are included in the price database and applicable beginning October 6:
1. Automobiles of various kinds with HS codes 8702, 8703, 8704 and 8705;
2. Motorbikes with HS code 8711;
3. Air conditioning machines with HS code 8415;
4. Washing machines with HS code 8450;
5. Refrigerators with HS code 8418;
6. Internal combustion piston engines with HS codes 8407 and 8408;
7. Gas cookers with code HS 7321;
8. Iron and steel of various kinds with codes HS codes 7207, 7208, 7209, 7210, 7211, 7212, 7213, 7214, 7215, 7216, 7217, 7218;
9. Building glass with codes HS 7004, 7005, 7006, 7008, 7016;
10. Clothes of various kinds with codes HS 5007, 5111, 5112, 5113, 5208, 5209, 5210, 5211, 5212, 5309, 5310, 5311, 5407, 5408, 5512, 5513, 5514, 5515, 5516 and the whole chapter 60; and
11. Alcohol and beer of various kinds with codes HS 2203, 2204, 2205, 2206, 2207, and 2208.
Companies importing goods to Vietnam must be aware of the prices listed for their products in the database and be prepared to answer questions if there are any price discrepancies.
