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USED ELECTRONIC EQUIPMENT IS PROHIBITED FROM IMPORT

VCN- Customs Newspaper received a question about the import of electronic equipment from Japan and policy on import duty for this item.

used electronic equipment is prohibited from import
A shipment of refrigerating and electronic household appliances banned from import, which was seized by the Customs at the Tan Cang – Cai Mep International Port. Photo by Nguyen Hue.

Regarding the question, the Legal Consultancy Team of Customs Newspaper shall consult as follows:

Pursuant to the Ministry of Information and Communication’s Circular No. 31/2015/TT-BTTTT guiding a number of articles of the Government’s Decree No.187/2013/ND-CP dated November 20, 2013, on export and import activities, used electronic products are subject to prohibition from import.

The reader should study the list of banned goods from export or import (Issued together with the Government’s Decree No. 187/2013 / ND-CP dated November 20, 2013) to implement in compliance with regulations. This list applies for export and import of commercial goods and non-commercial goods; Exports and imports in border areas; Government and non-government aids.

By Legal Consultancy team of the Customs newspaper/ Ngoc Loan

Source: http://customsnews.vn/

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HCM CITY CUSTOMS AND TCS SOLVE PROBLEMS FOR IMPORT-EXPORT ENTERPRISES

VCN- On 24th April 2017, the Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong and the delegation of the HCM City Customs Department had a meeting with the Board of members, Board of Directors of Tan Son Nhat Cargo Services Company Limited (TCS) to solve problems for TCS and import-export enterprises.  

hcm city customs and tcs solve problems for import export enterprises
The Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong speaks at the meeting with TCS. Photo: Thu Hoa.

The Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong said that during the implementation of Government’s Resolution No. 35 / NQ-CP in 2016 and Government’s Resolution 201-2017 / NQ-CP of 2017 on the implementation of the main tasks and solutions to improve the business environment, enhance national competitiveness in 2017, towards 2020, the HCM City Customs Department has been implementing the Action Plan “The business community and Customs are trusted partners to accompany and develop”. Accordingly, the HCM City Customs Department has actively come to businesses to recognize difficulties, obstacles, as well as business plans to support enterprises.

Till now, the HCM City Customs Department has directly worked with more than 20 enterprises, and it will directly work with the remaining enterprises in the second quarter of 2017. At the meeting, some enterprises reflected the problem when receiving goods at the warehouse of TCS. In order to solve difficulties for import-export enterprises and facilitate related parties, the Customs force and TCS shall discuss solutions to support import-export activities of enterprises as much as possible. Thereby, enterprises will accompany the Customs force and TCS to bring the best effect.

The Director General of TCS, Mr. Nguyen Cao Cuong said that TCS was one of the leading companies with 20 years of experience in air cargo services, with the capacity of 350,000 tons per year, serving 32 airlines. The total cargo volume from early 2017 to 19th April 2017 reached nearly 39,000 tons.

According to Mr. Cuong, with the high volume of cargo, the imported area is currently overloaded, which leads to local blockages. In order to solve these inadequacies, TCS has improved delivery schedules from the end of 2016, conducting delivery on Sundays, free warehousing and overtime charges for delayed TCS shipments, reducing waiting time from 160 minutes to 75 minutes (a decrease of more than 50%), while reducing the proportion of shipments with high delivery time.

“In order to further improve the procedures and facilitate the customers, TCS will implement complex building projects; 3 more cold storage warehouses for pharmaceutical products; applying IT to the exploitation of goods, implementing procedures to receive goods online, providing more human resources for receiving goods in line with the provisions of Circular 38”, the Director General Nguyen Cao Cuong shared.

hcm city customs and tcs solve problems for import export enterprises
The Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong checks the operations of TCS. Photo: T.H.

The Manager of the Customs Branch of Tan Son Nhat International Airport, Mr. Do Thanh Quang said that in recent times, the Customs Branch of Tan Son Nhat International Airport and TCS had been very well coordinated. TCS has provided timely support to the Customs office in arranging office space and in the process of facilitating enterprises in receiving goods. In order to solve the feedback and recommendations of enterprises, TCS has committed to support enterprises, especially 53 enterprises on the list of priority of Tan Son Nhat international airport.

At the end of the meeting, the Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong also highly appreciated the support of the Board of members and the Board of Directors of TCS, which facilitated the Ho Chi Minh City Customs Department and the Customs Branch of Tan Son Nhat International Airport in accomplishment of State management task in the area.

The Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong also appreciated TCS’s efforts in reducing over 50% of receiving time and shared with TCS’s difficulties. “With an increase in cargo volumes, TCS needs to plan for inventory in advance and review the procedures of exported and imported goods to see what steps can be simplified and what procedures can be simplified in order to reduce the time for receiving goods for enterprises”, the Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong proposed.

Regarding coordination, the Customs office has created favourable conditions for TCS in the process of production and business, and together with TSC to overcome difficulties to create the most favourable conditions for export and import activities of the business community. Through creating favourable conditions for TCS to support people and enterprises to carry out import and export procedures through the air; the Customs force shall strengthen coordination in processing procedures for imported and exported goods, especially the peak time with the viewpoint of “doing all the tasks regardless of working time”.

* Prior to joining the meeting of TCS Board of members and Board of Directors, the Deputy Director General of Vietnam Customs, Mr. Hoang Viet Cuong and his delegation visited the operations at TCS’s export warehousing and warehouses as well as the process of supervision and management of the Customs force for imports and exports.

By Le Thu/ Hoang Anh

Source: http://customsnews.vn

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THE CUSTOMS INSPECTION BRANCH NO.1 OFFICIALLY OPERATES

VCN- On the morning of 26th April 2017, the Customs Inspection Department (under the General Department of Vietnam Customs) held the Opening Ceremony of the Customs Inspection Branch No.1. The ceremony was attended by the Deputy Director General of Vietnam Customs, Mr. Nguyen Duong Thai and representatives of the subordinate Departments of the General Department of Vietnam Customs.

the customs inspection branch no1 officially operates
The Customs Inspection Branch No.1 officially operates from 26th April 2017. Photo: Hong Nu.

At the ceremony, Mr. Nguyen Ngoc Huan, the Director of the Customs Inspection Department read Decision No. 1365 / QD-TCHQ of 20th April 2017 of the General Department of Vietnam Customs to appoint Mr. Phan Dinh Nguyen, Head of Customs Inspection Division as the Manager of the Customs Inspection Branch No.1.

Speaking at the Opening Ceremony, the Deputy Director General of Vietnam Customs, Mr. Nguyen Duong Thai said that the Customs Inspection Branch No.1 was established with a special meaning in carrying out the tasks assigned by the Government to the General Department of Vietnam Customs, in accordance with the Prime Minister’s Decision 65/2015 / QD-TTg and the task of specialized inspections; improving the legality of an inspection agency under the General Department of Vietnam Customs.

The Deputy Director General of Vietnam Customs, Mr. Nguyen Duong Thai said that the Customs Inspection Department had made great efforts in recent years, including the official introduction of the Customs Inspection Branch No.1, actively adding equipment and facilities for the inauguration and operations of the Customs Inspection Branch No.5 and the Customs Inspection Branch No.6 in Quang Ninh province and Lang Son province.

The Deputy Director General of Vietnam Customs requested that after the Customs Inspection Branch No.1 officially operated, it should have a good grasp of the functions, tasks, and powers to carry out its activities, including human resources, facilities, efforts to overcome difficulties to complete the tasks. Also, it should improve the professional capacity to operate effectively. In addition, it is necessary to work closely with other relevant units in the Customs sector to solve problems and complaints; build relationships with external inspection agencies to have accurate results and close relationships with enterprises, showing that enterprises are partners which are responsible for meeting the requirements of tasks.

The Deputy Director General of Vietnam Customs, Mr. Nguyen Duong Thai believed that the Customs Inspection Branch No.1 would fulfill its mission and affirm its position in Customs inspections.

By Dao Le/ Hoang Anh

Source: http://customsnews.vn/

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RULES OF ORIGIN: THE BIGGEST BARRIER OF TEXTILE EXPORTS TO THE EU

VCN- At the Vietnam Textile and Garment Conference on rules of origin in the EU-Vietnam Free Trade Agreement (EVFTA) co-organized by the Vietnam Textile and Apparel Association (Vitas) and EU-MUTRAP on 20th April 2017 in HCM City, experts said that the compliance with rules of origin was the biggest obstacle for exporters to enjoy tax incentives in this market.

rules of origin the biggest barrier of textile exports to the eu
Textile production at Saigon Garment Company No.3.

Regarding textile exports to the EU in recent years, Ms. Dang Phuong Dung, the Deputy Head of the Vitas Advisory Board and EU-MUTRAP expert said that although the EU was the largest textile import market in the world, it was only the second largest textile export market of Vietnam (after the US). The growth rate of the textile and garment export turnover to the EU as well as the proportion of imported textile and garment into the EU have been still very small, which shows the weak competitiveness of Vietnamese garment products. The negotiation and signing of EVFTA are to create more favourable conditions for domestic businesses to improve their competitiveness in this market.

According to Ms. Dang Phuong Dung, the export of textile and garment products to the EU in the past time faced difficulties due to strict criteria of the EU market with small orders, not as large as the US. In addition, the importers tend to buy package products instead of processing goods, so most Vietnamese businesses which are not competitive find is difficult to access.

EVFTA will create more favourable conditions for domestic enterprises to expand their market thanks to preferential tax policies. However, according to Ms. Dang Phuong Dung, rules of origin were the biggest obstacles for textile and garment to enter the EU market from when EVFTA took effect because Vietnam mainly imports goods from China. In recent years, Vietnam has signed many FTAs with ASEAN, Korea and Japan on the rules of origin on the fabrics, but the ability to use rules of origin of Vietnam is very limited.

EVFTA, however, applies accumulation rules, which allows Vietnamese exporters to use textile from a third country that has signed an FTA with Vietnam and the EU (South Korea as an example). This is a good opportunity for Vietnam because in the future, the ASEAN countries will increase sign FTA with the EU, and Vietnam can expand the source of materials to enjoy tax incentives.

Ms. Vu Thi Phuong, the Deputy Secretary General of the Vietnam Textile and Garment Association, said that in the first two months of 2017, textile and garment export turnover to the EU market reached $US 480 million, an increase of nearly 7% compared to the same period of 2016. This is considered to be a positive sign for textile and garment exports to this market. Although the proportion of textile and garment exports to the EU is still low (only accounting for 1.9% of total EU textile and garment imports by 2015), textile and apparel imports into the EU are subject to a high tax rate of 8-12. %, But with EVFTA, the EU will be a potential market for export garment and textile. Since this agreement takes effect, many products will be reduced to 0% and after 7 years, all exports to the EU market will be reduced to 0%.

According to Mr. Stefan Moser, the EU-MUTRAP expert, in order to meet the requirements of EVFTA rules of origin, exports to the EU must meet the requirements of fabric produced in Vietnam or the EU, or from one-third country which has had FTAs with Vietnam and EU. However, the rate of utilization of bilateral rules of origin (EU imports of fabric for production and re-export to the EU) is very low because the price of EU fabrics is very expensive with a high transportation cost.

According to Mr. Stefan Moser, insufficiently processing activities such as preservation, unpacking, assembly of packages and polishing do not meet the requirements of rules of origin, so in the case where enterprises still declare and export to the EU, they may be detected and fined by the European Regulatory Authority.

According to experts, the opportunity from EVFTA is very high, but domestic enterprises must meet the requirements of rules of origin to take advantage of the opportunity. Meanwhile, according to Ms. Vu Thi Phuong, the practical use of tax incentives from the signed FTA has been quite low. Currently, there are only 35% of Vietnam’s export products make full use of the opportunities provided by FTAs, while 65% are still subject to high tariffs. In order to support enterprises, the Vietnam Textile and Garment Association has actively propagated and provided information on the market for enterprises to prepare. “The regulations of the FTAs are increasingly tight and enterprises must carefully prepare to take advantage of opportunities from integration”, Ms. Phuong emphasized.

By Nguyen Hue/ Hoang Anh

Source: http://customsnews.vn/

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VEGETABLE EXPORTS REACH NEARLY 190 BILLION VND PER DAY

VCN- Vegetable exports continue to be an impressive bright spot in the export activities of the first two months of 2017 in Vietnam with a high growth of double-digit, bringing the amount of nearly 190 billion vnd per day.

vegetable exports reach nearly 190 billion vnd per day
The Tan Thanh border gate – exporting point of vegetables in fruits to China. Photo: Thai Binh.

73% of vegetable exports to China

According to the latest statistics from the General Department of Vietnam Customs, by 15th April 2017, the total value of fruit and vegetable exports reached $US 857 million, an increase of nearly 30% compared to the same period in 2016 (reaching $US 661 million), equivalent to an increase of $US 196 million.

Thus, on average, each day vegetable exports brought about $US 8.2 million, equivalent to the amount of nearly 190 billion vnd per day.

As a result, vegetables and fruits continue to maintain the third largest commodity exports in agricultural and aquatic products in Vietnam (after seafood and coffee).

Notably, vegetables and fruits had a stronger growth rate than seafood (only 7.8%) and coffee (21%). Thus, the difference between vegetables and the two above commodity groups was narrowed down.

Regarding the export market, Vietnamese vegetables have been exported to many countries and regions in the world such as Asia, Europe, and America. In particular, there have been many markets requiring high quality such as the United States, Japan, Australia, South Korea and European countries such as Germany and Netherlands.

However, the biggest market of Vietnamese vegetables and fruits was still China. According to the latest statistics from the General Department of Vietnam Customs, exported fruits and vegetables to China reached $US 512 million, accounting for 73% of the total export value of this commodity in the same period.

At the local border near China, the area of exported vegetables and fruits were concentrated mainly at Tan Thanh border gate area (Lang Son) and Lao Cai border gate area.

Diversifying the market

Regarding the results on the export of vegetables recently, on 24th April 2017, speaking to a reporter of the Customs Newspaper, Dr. Nguyen Huu Dat – the executive of the Vietnam Fruit and Vegetable Association (VINAFRUIT) said that the results of fruit and vegetable exports were very positive.

According to Dr. Nguyen Huu Dat, the fruit and vegetable exports have been increasingly flourishing for many reasons.

Firstly, the trade promotion and market expansion by State management agencies have been creating positive results. As a result, Vietnamese vegetables and fruits have started to promote in the fastidious markets such as the United States, Japan, South Korea or EU countries.

“Although the value of export turnover to these markets is not high, but the export of vegetables to the fastidious markets with a high quality will increase the prestige for Vietnamese vegetables and fruits”, Dr. Dat said.

On the other hand, according to Dr. Nguyen Huu Dat, an increase in the demand for fruits and vegetables in the world was an opportunity for export growth of this product in Vietnam now as well as in the coming time.

In particular, an important cause which was emphasized by Dr. Nguyen Huu Dat was the role of scientists, the business community, producers and farmers in the effort to diversify the design and quality, brand promotion for Vietnamese vegetables and fruits.

“Although the fruit and vegetable export businesses have limited financial resources, they have efforts in promoting the brand and seeking the export markets. On the other hand, in the past two years, there has been a close connection among the exporters, the farmers, and the producers. Therefore, the quality and design of the products have been increasingly improved, thereby creating the prestige for Vietnamese vegetables and fruits in the world market”, the VINAFRUIT leader said.

In 2016, vegetables and fruits brought $US 2.457 billion, with a growth rate of 33.6% compared to 2015. This was the third largest export commodity in the field of agriculture (after fishery and coffee) and was the second fastest growing commodity group in the total of 45 key export categories which were listed by the General Department of Vietnam Customs (after gemstones, precious metals and products with a growth rate of 44.4%).

By Thai Binh/ Hoang Anh

Source: http://customsnews.vn/

 

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VIETNAM’S EXPORTS STILL DOMINATED BY FDI FIRMS

The turnover of foreign invested firms continues to dominate Vietnamese exports despite a decline seen in the first half of April latest statistics show

vietnams exports still dominated by fdi firms

According to the General Department of Customs (GDC), as of April 15, exports by FDI firms reached nearly US$10.87 billion, down 13% month-on-month.

Despite the fall, however, the sector accounted for 65.1% of the total export turnover this year (January 1 to April 15, 2017) at US$70.05 billion, which marked an increase of 10.95% over the same period in 2016.

FDI firms in the country now have an accumulated 2017 trade surplus of US$3.92 billion, making them significant contributors to national export value.

Meanwhile, Vietnam’s total export from the April 1 to April 15 was US$16.37 billion, a month-on-month drop of 13.9%.

This took total exports for this year to more than US$107.58 billion, an increase of nearly US$16.76 billion or 18.5% over the same period in 2016.

However, the months leading to April 15 have seen a trade deficit of US$2.56 billion, about 4.9% of export value.

On the other hand, Vietnam’s imports from January 1 to April 15, 2017 reached US$55.07 billion, up 23.1% over the same period last year.

Accumulated import turnover for FDI firms reached more than US$33.06 billion, up 23.7% year on year, accounting for 60% of the nation’s total imports.

The GDC report said the manufacturing sector will grow significantly with the opening of new FDI factories, on top of a record FDI disbursement of US$15.8 billion in 2016. The construction sector should benefit in particular from higher FDI disbursements as also continued public investments in the energy and transport sectors.

The first quarter has also saw foreign firms add US$7.71 billion in newly registered and supplemental capital. They increased their capital contribution and share purchases by 77.6% over the same period in 2016, with US$2.9 billion for 493 newly registered projects and US$3.9 billion for adding capital to 223 existing projects.

On the domestic front, export value for certain goods showed strong declines: steel was down 62%; computer, electronic parts and accessories, down 27.8%, textiles, down 20.4%; wood products, down 23.8%.

Only a few goods showed improvement in export value. Rice was up 6.5% and mobile devices and accessories went up three percent.

Source: VNA

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TEMPORARILY IMPORTED MEAT AND VISCERA PRODUCTS INTO VIETNAM TO BE STOPPED

VCN- After the price of pork dropped sharply at the beginning of 2017 to just 50% of the price in the same period last year, the Ministry of Agriculture and Rural Development has just issued Official Letter No. 3046 / BN- CN to the Prime Minister on a number of measures to stabilize livestock development.

temporarily imported meat and viscera products into vietnam to be stopped
There should be an adjustment of the quality of breeding stock and breeding methods for each market segment.

After a period of hot development in the livestock sector, especially pork and animal feed processing industry, there have been some shortcomings in the market, especially in the pork market. The price of pork has fallen down to 30,000 vnd per kg, especially in the coming summer months, causing serious losses to livestock farmers.

In order to stabilize and develop livestock in general and pig production in particular (the pig production occupies nearly 70% of the market share of livestock products as well as the structure of daily food consumption of the people), the Ministry of Industry and Rural Development has made some immediate and long-term solutions.

In particular, the immediate solution is to request the Prime Minister to assign the Ministry of Agriculture and Rural Development to coordinate with the Ministry of Finance and localities to enhance the direction of enterprises in the application of technological measures in order to save costs, reduce production costs and prices of livestock products, especially feed and veterinary medicine to reach the lowest price in the region. Also, the authorities have accelerated negotiating measures to find markets for livestock products, especially pig production in both the border and cross-border areas.

At the same time, the Government has instructed banks and credit organizations to have solutions for debt relief for livestock and poultry breeders and businesses in livestock feed and veterinary medicine.

The Government has also required competent units which are capable of stockpiling and processing meat such as Vissan, Viet Duc, Hapro Hanoi, Saigon Co.op, Saigon Agriculture Corporation and military units to strengthen poultry stock for the upcoming summer months.

The Government has also considered stopping the temporary import for re-export of meat and viscera products from outside into the Vietnamese market in order to protect the market share of domestic animal products, thereby limiting the risk of diseases, the risk of “dirty food” in the domestic market, causing traffic infrastructure degradation due to large volume of nearly 3 million tons of goods in transit through Vietnam every year.

In the long run, according to the Ministry of Agriculture and Rural Development, localities should review and restrict the opening of new industrial animal feed processing units. Reportedly, the total capacity of registered factories has reached over 31 million tons, far exceeding the planned target of 2020 with 25 million tons.

The localities should reduce the size of pigs, especially the sow and adjustment of the quality of breeding stock and breeding methods for each market segment. In particular, increasing organic farming which is the strength of the farm sector and characteristic of Vietnamese livestock industry.

In addition, the localities should reorganize livestock production through chains, which maximizes the role of enterprises, associations, and cooperatives to better control quality, food safety, supply and demand for livestock products.

By Xuan Thao/ Hoang Anh

Source: http://customsnews.vn/

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CUSTOMS OFFICERS CLEARING CONTAINERS WITHOUT CHECKING AT TUGHLAKABAD (INDIA)

Corrupt Customs officials are allegedly clearing containers at the Inland Container Depot (ICD) at Tughlakabad (TKD), without scrutiny, thereby putting national security at high risk, according to experts on internal security. ICD comes under Ministry of Finance.

customs officers clearing containers without checking at tughlakabad india
CBI and DRI launched a month-long ‘investigation and examination’ of the containers on 1 March 2016.

Santosh Kumar Jain, a former officer of the Financial Investigation Unit (FIU) and an expert on internal security, said: “The Inland Container Depot (ICD) at Tughlakabad, a dry port, has turned into a den of corruption and shady Customs officials are allowing the clearance of containers without examination, thereby compromising national security. There are cases where Customs officials did not examine containers despite being prompted by the Electronic Data Interchange system for 100% examination of containers.”

“Just for earning a few extra bucks, some Customs officials are not only compromising national security, but their activities are leading to huge losses in revenue for the exchequer,” Jain, who has been in several committees formed to curb corruption in inland ports, said.

Evidence accessed by The Sunday Guardian shows that after sensing rampant corruption and illegal trade at the ICD-TKD port, premier investigative agencies in the country, including the Central Bureau of Investigation (CBI) and the Directorate of Revenue Intelligence (DRI), launched a month-long “investigation and examination” drive on 1 March 2016, to check all suspicious containers, mostly originating from China, Dubai and Thailand, among other countries.

However, the agencies involved in the investigation have not made their findings public as to whether any unwarranted goods were found during the course of “investigation and examination”, but sources said that banned Indian currencies of higher denominations were found in several containers.

A spokesperson of Karol Bagh Traders Federation (KBTF), on the condition of anonymity, said: “Customs officials have joined hands with several importers involved in illegal trade. These officials have set up a parallel system at the ICD-TKD and have even appointed their own personnel who help them in collecting bribe money during office hours.”

Instead of stopping illegal trade practices, Customs officials are helping the touts, the KBTF spokesperson alleged, adding that these officers even harass importers-exporters not willing to pay bribes.

Despite action against some senior officials, the Customs Department has failed to bring an end to the prevailing corruption at the Inland Container Depot at Tughlakabad or introduce any mechanism to stop the illegal activities.

“In 2015, the CBI had arrested Atul Dixit, Commissioner of Customs at ICD-TKD and Nalin Kumar, Deputy Commissioner of Customs, ICD-TKD, for their alleged involvement in a case of fraudulent garments export and dubious transfer of drawback incentives,” the KBTF spokesperson added.

However, Nilank Kumar, Joint Commissioner of Customs, ICD-TKD, denied all allegations of rampant corruption at ICD-TKD.

“I am not aware of any corruption here in ICD-TKD. If any complaint comes, we will take action against those responsible,” he said.

Source: sundayguardianlive.com

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NO NEW CIRCULAR GUIDES THE LAW ON IMPORT AND EXPORT DUTY

VCN- Instead of drafting the Circular guiding some provisions of the Law on Import and Export Duty and Decree 134/2016 / ND-CP, these guidelines will now be provided in the draft Circular supplementing and amending Circular 38/2015 / TT-BTC which the General Department of Vietnam Customs is developing.

no new circular guides the law on import and export duty
Customs operations at the Thanh Thuy Customs Branch under the Ha Giang Customs Department. Photo: T. Trang.

That is the content which Mrs. Nguyen Kim Thoa – the Head of Tax Policy Division (the Import and Export Duty Department under the General Department of Vietnam Customs) exchanged with a reporter of the Customs Newspaper.

Reportedly, the contents related to import-export duty and tax administration will abolish Articles 40, 42, 46, 105, 108, 109, 110, 112 and 113 in Circular 38/2015 / TT-BTC.

Accordingly, in the draft Circular amending and supplementing Circular 38/2015 / TT-BTC will guide some regulations on import and export duty such as: payment of additional tax declaration; tax bases; the examination and processing of Customs valuation results; processing of Customs valuation results; guarantee and deposit tax money; location and form of tax payment; payment of Customs fees; taxes imposing on imported and exported goods; tax exemption for imported goods for processing, notification of the list of duty-free goods and tax refund cases.

By Thu Trang/ Hoang Anh

Source: http://customsnews.vn/

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SEAFOOD EXPORTS UP NEARLY 8% IN FIRST QUARTER

Aquatic product exports rose by 7.9% to US$1.51 billion in the first quarter of this year, according to latest statistics from the General Department of Vietnam Customs.

seafood exports up nearly 8 in first quarter

In the period, Japan surpassed the US to become the largest consumer of Vietnamese aquatic products with a revenue of US$252.9 million (up 29.5%), accounting for 16.7% of the country’s total seafood exports.

The US came second with a value of US$251.2 million (down 14.8% against the same period last year) and China ranked third with US$144.47 million (up 17.9%).

In general, seafood exports to global markets saw a decline compared to the same period last year, especially Kuwait (-48%), Romania (-39.5%), Iraq (-57.6%) and Turkey (-35.5%). However, exports to traditional markets still enjoyed a growth, even robust growth, namely Israel (+138.6%), Denmark (+107.2%), and Brazil (+75.1%).

The Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast that seafood exports is likely to increase by 5% to around US$7.5 billion this year. However, it is not an easy task for the seafood sector due to technical barriers to trade, unpredictable development of diseases and the shortage of raw materials for processing.

Meanwhile, the US still considers imposing anti-dumping duties on Vietnamese frozen fish fillets.

Source: VOV