On January 25, 2021, the Vietnamese Ministry of Finance issued Circular No. 07/2021/TT-BTC, prescribing the time of submission of Certificate of Origin (C/O) for imported goods under the Free Trade Agreement between the Socialist Republic of Vietnam and the European Union (EVFTA).
Accordingly, this Circular stipulates 3 times when customs declarants are allowed to submit C/O for imported goods as follows:
– The customs declarant submits C/O of imported goods at the time of carrying out customs procedures;
– In case C/O for imported goods is not available at the time of customs procedure to enjoy special preferential import tax under the EVFTA, customs declarants must declare to submit late C/O on the import customs declaration. Moreover, they shall make additional declarations, and submit C/O within a period of no more than 2 years from the date of registration of the import customs declaration and in the validity of C/O.
– In case the customs declarant submits C/O after the allowed specified time limit due to force majeure or other valid reasons beyond the importer’s control or other late presentation cases, the Ministry of Finance (the General Department of Customs) shall consider and decide on the application of special preferential import duty rates under the EVFTA for specific cases. For other late presentations, the goods must be imported within the validity period of the C/O.
The inspection and determination of the origin of goods to apply the special preferential import duty rates still comply with the old regulations, i.e., the customs office checks and determines the origin of exported goods on the basis of check the declarant’s declaration contents, the documents in the customs dossier, and the results of physical inspection of goods.
This Circular takes effect from March 11, 2021. For customs declarations of imported goods registered from August 1, 2020, to prior to the effective date of this Circular, if fully meeting the regulations to enjoy the special preferential import duty rate, the customs declarant shall submit the C/O to the customs office for a refund of the overpaid tax amount.
Thus, the provisions on the deadline for submitting customs declarations in this circular are extremely progressive in accordance with the current situation, creating conditions for customs declarants to be flexible in the time of submission but still does not affect the right to enjoy preferential tariff treatment. However, the customs declarant should not assume that this regulation is easy and procrastinate in submitting C/O. This will cause the enterprises to lose points and be in blacklisted as well as will not be considered in other deferred filing times but with reasonable reasons.
For any other information, please feel free to contact us at:
Ms. Gracie – Juridical Executive of MRS Steel
WhatsApp: 00 84 833 407 559