New regulations on customs valuation for goods import and export

23/12/2019

The Ministry of Finance has issued Circular 60/2019/TT-BTC amending and supplementing Circular 39/2015/TT-BTC providing for customs value of exported and imported goods.

The Circular supplements Article 4 "Principles and methods of customs valuation of exported goods" as follows: In principle: Customs value is the selling price of goods up to the export border gate excluding international insurance (I) and international freight (F), determined by sequentially applying the methods set out below and stopping at the method of customs valuation. Customs valuation must be based on vouchers, documents, objective and quantifiable data.

Method of determining the selling price of goods at the checkpoint of export, the Circular states: The selling price of goods at the checkpoint of export is the selling price stated in the goods sale and purchase contract or commercial invoice and expenses related to exported goods shall be calculated up to the export border gate in accordance with the relevant documents if these expenses are not included in the selling price of the goods.

Method of determination: In case exported goods are delivered at the border gate of export, the selling price of the goods up to the export border gate is the selling price stated in the goods sale and purchase contract or commercial invoice and expenses related to exported goods to the export border-gate in accordance with the relevant documents if these expenses are not included in the selling price of the goods.

In case the exported goods are not delivered at the export border gate: If the place of delivery is outside Vietnam, the selling price of the goods up to the export border gate shall be determined on the basis of the selling price stated in the sale contract or commercial invoices, except for international insurance (I, if any), international freight (F) from the checkpoint of export to the place of delivery.

The selling price method of identical or similar export goods in the database of customs value: The customs value of exported goods under this method is determined from the selling price of identical export goods or similar in the database of customs value after the conversion of the selling price of goods to the checkpoint of export at the latest time compared to the date of registration of export declaration of the goods lot being valued.

Cases need to convert: Differences in distance; differences in mode of transport.

The selling price method of identical or similar goods on the Vietnamese market: The customs value of goods according to this method is determined from the selling prices of identical or similar goods on the Vietnamese market stated on sale invoices at the latest time compared to the date of registration of export customs declarations of goods lots being valued plus domestic transportation charges and other relevant expenses for bringing goods to the export gate.

The selling prices of goods identical or similar to exports on the Vietnamese market must be shown in accounting books and accounting vouchers and recorded, reflected in accordance with Vietnam's accounting law. In case there are many selling prices at the same time, the selling price with the largest cumulative quantity shall be taken.

The method of selling prices of exported goods collected, compiled and classified by customs authorities: The customs value of exported goods is determined using the aggregate selling price from information sources according to the regulations, after the conversion of selling prices to export border gates of export goods being subject to customs valuation.

In case there are many customs values after conversion, the lowest customs value shall be used; do not use the customs value of suspected or identical shipments as prescribed.

This Circular takes effect from October 15, 2019.

Source: chinhphu.vn

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