Vietnam Issues Changes to Import Price Database
Jul. 4 – The Vietnamese General Department of Customs recently issued “Official Letter No. 3286/TCHQ-TXNK (hereinafter referred to as ‘Letter’)” on June 14, 2013, to announce changes to the country’s import price database on various goods.
Specifically, the Letter adds 24 new categories to the list of items that are subject to import duties. The Letter also outlines the guidelines for how customs departments throughout the country should inspect and determine the customs value of certain imported goods if the declared price is said to be lower than the price listed in the database.
According to Circular 205/2010/TT/BTC (dated December 15, 2010), the price database is only to be used by Vietnamese customs departments as a tool to assess risks and compare duty amounts, but it is not to be used to fix a certain customs value on any imported goods. As such, in practice, the listed customs amounts in the database are only to be used as a reference for when importers declare a customs value on imported items that is lower than the actual listed price of identical or similar goods.
The Letter replaces the “Official Letter to Foreign Investors 348/TCHQ-TXNK” (dated January 21, 2011), “Official Letter No. 2334/TCHQ- TXNK” (dated May 31, 2011) and “Official Letter 5486/TCHQ-TXNK” (dated October 10, 2012).
The following goods, and their specific Harmonized System (HS) codes, were added into the price database:
- Meat of livestock (chilled or frozen) with HS codes 0201, 0202, 0203, 0204 and 0207;
- Fish (fresh or frozen) with HS codes 0302, 0303 and 0304;
- Edible fresh fruits with HS codes 0803, 0804, 0805, 0806, 0807, 0808, 0809 and 0810;
- Alcohol and beer with HS codes 2203, 2204, 2205, 2206, and 2208;
- Sanitary equipment with HS codes 3922, 6910 and 8481;
- Handbags with HS code 4202;
- Belts with HS code 4203;
- Clothes and suits with HS codes 6103, 6203, 6104, 6204, 6105, 6205, 6106, 6206 and 6109;
- Footwear of various kinds with HS codes 6403, 6404 and 6405;
- Glazed ceramic flags and paving with HS codes 6907 and 6908;
- Glass used in construction with HS codes 7004 and 7005;
- Iron and steel of various kinds with HS codes 7213, 7214, 7215, 7216 and 7228;
- Gas cookers with HS code 7321;
- Complete engines (except plane engines) with HS codes 8407, 8408;
- Air conditioning machines with HS code 8415;
- Refrigerators with HS code 8418;
- Washing machines with HS code 8450;
- Mechanical appliance and household electric appliance with HS codes 8414, 8422, 8508 and 8516;
- Electric generating sets with internal combustion piston engines with HS code 8502;
- Electric cookers with HS code 8516;
- Mobile phones with HS code 8517;
- Automobiles of various kinds with HS codes 8702, 8703, 8704 and 8705;
- Motorbikes with HS code 8711; and
- Electric bicycles with HS code 8711.
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
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