The Deputy Prime Minister has just signed Decision 15/2023/QĐ-TTg stipulating the application of normal tax rates for imported goods as following Point c, Clause 3, Article 5 of the Law on Import Tax and Export Tax. Decision 15/2023/QĐ-TTg takes effect from 15th July, 2023. Subjects of application include: Owners of imported and exported goods; Organizations and individuals have rights and obligations related to imported and exported goods activities; Customs authorities, customs officers; Other agencies, organizations and individuals when implementing export tax and import tax policies in accordance with the Law on Import Tax and Export Tax. The new normal tax rates in the...
FIRST ALL-CARGO AIR SERVICE BETWEEN VIETNAM, UK LAUNCHED
TT Meridian, a leading international logistics and trading company specialising in the UK and Vietnam markets, on May 19 announced a new all-cargo air route between the UK and Vietnam via Turkmenistan. Turkmenistan Airlines cargo plane at London Stansted Airport is about to fly back to Vietnam, transiting Turkmenistan The new route, announced by the company on May...
COSCO BUILDS SECOND 700 TEU ELECTRIC BOXSHIP
COSCO SHIPPING Heavy Industry (Yangzhou) began construction works on the second 700 TEU electric container ship (N998) owned by COSCO SHIPPING Development on 8 May. The 700 TEU electric boxship is an important initiative of COSCO SHIPPING Development aiming to promote the "carbon peaking and carbon neutrality" push for green zero-carbon shipping demonstration. The ship is a 10,000-DWT specific route river/coastal ship with an length of 119.8 metres, a moulded beam of 23.6 metres, a designed draught of 5.5 metres, and two 900kW main propulsion motors. The vessel is expected to be able to cut carbon emissions by roughly 32 tonnes every 24...
IMPORTED PROCESSED PRODUCTS FOR EXPORT PROCESSING NOT SUBJECT TO IMPORT TAX REFUND
According to regulations, the processed products that are imported and then processed in Vietnam for export are not subject to an import tax refund. The country’s top customs regulator cites Article 19 of the Law on Import and Export Duty as saying that cases of tax refund are below: Any taxpayer who has paid export duty or import duty but has no exports or imports, or the number of exports or imports is smaller than the quantity on which duty is paid; Any taxpayer who has paid export duty but the exports have to be re-imported will receive a refund of export duty...
SITUATION OF IMPORT AND EXPORT OF VIETNAM'S GOODS IN THE SECOND HALF OF APRIL 2023 (FROM 16 TO 30 APRIL, 2023)
The latest preliminary statistics of the General Department of Customs show that the total import and export value of Vietnam's goods in the period of second half of April 2023 (from 16th to 30th April, 2023) reached 26, $78 billion, an increase of 2.7% (equivalent to an increase of $702 million) compared to the results in the first half of April 2023. The results achieved in the second half of April 2023 brought the total import-export value of the whole country in the four months of 2023 to reach US$ 206.76 billion, down 15.3% (equivalent to US$ 37.47...
250 PROCEDURES CONNECTED WITH NATIONAL SINGLE WINDOW
In addition to connecting the National Single Window, the General Department of Customs is coordinating with relevant ministries and agencies in connecting the Single Window with partners inside and outside the ASEAN region. As the Standing Agency of the National Steering Committee on ASEAN Single Window, National Single Window and Trade Facilitation (Steering Committee 1899), the General Department of Customs has been urging and closely working with ministries and agencies to implement the National Single Window, the ASEAN Single Window, and ASEAN Trade Facilitation. Accordingly, the General Department of Customs has mobilized resources to build a master plan for developing an information...