January 18, 2018 05:05

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New guidelines on the time of submitting C/O

20:30 | 19/09/2016

VCN- The Ministry of Finance has provided guidelines on the time of submitting C/O. Accordingly, the time of submitting C/O will be made at a fixed time, which is only changed in special cases.

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Customs officers of the Bac Thang Long Customs Branch carry out physical inspections. Photo: Huu Linh.

Specifically, the time of submitting C/O, except C/O form VK (KV), is guided by the Ministry of Finance as follows: For Customs declarations (printed papers), the declarant must submit C/O at the time of filing of Customs declarations. For electronic Customs declarations, the declarant must submit the original C/O at the time of filing of Customs declarations.

After the time limit, Customs authorities only consider submitting additional C/O in two cases:

At the time of registration of a Customs declaration with the HS code declared, MFN tax rate is lower than or equal to the special preferential tax rate and enterprises attract MFN tax rate instead of the special preferential tax rate when implementing Customs procedures. After Customs clearance, Customs authorities shall implement Customs post-clearance to examine HS code or allow enterprises to add a new HS code. If under new HS code the MFN tax rate is higher than the special preferential tax, enterprises should submit an additional C/O.

If at the time of registration of a Customs declaration, goods are subject to preferential goods which are exempt from import tax. But after Customs clearance, Customs authorities discover that goods are not subject to preferential goods, enterprises shall be required to submit an additional C/O.

For C/O form VK (KV), the Ministry of Finance regulates the time of submitting C/O as follows: For te Customs declarations (printed papers), the declarant must submit the original C/O at the time of registration of Customs declarations. For electronic Customs declarations, the declarant must submit the original C/O at the time of filing of Customs declarations. In the case where there is no original C/O at the time of implementing Customs procedures, the declarant shall submit an additional C/O within 1 year from the date of registration of Customs declarations. In the time of pending submission of C /O, enterprises shall declare under MFN tax rate.

Besides, the Ministry of Finance requested local Customs Departments to focus on checking the origin of exported and imported goods, in accordance with rules of origin. During the time of inspections, if Customs officers suspect the validity of C/O and the information relating to C/O, they will conduct the examination. In the time of pending submission of C/O, enterprises shall declare under the MFN tax rate.

The provisions at the time of submitting C/O are to perform the inspections of imported goods originating from member countries which enjoy special preferential tax rates especially in the framework of Free Trade Agreements with Vietnam.

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According to a representative of Customs Supervision and Management (the General Department of Vietnam Customs), enterprises should prepare a full Customs dossier in order to enjoy special preferential tax rates under current regulations.

By Ngoc Linh/ Hoang Anh