On May 14, 2020, the Ministry of Industry and Trade issued Circular 09/2020/TT-BCT prescribing the roadmap for application of import and export checkpoints, in case of goods temporarily import for re-export, transit or storage in bonded warehouses. This Circular takes effect from January 1, 2021.
Accordingly, if goods for temporary import for re-export and transit are imported or re-exported out of Vietnam via terrestrial border, the import or re-export must be implemented at international border checkpoints or primary border checkpoints (bilateral border checkpoints) opened according to Decree No. 112/2014/ND-CP dated November 21, 2014 of Government on the management of terrestrial border checkpoints.
This provision also applies to foreign goods temporarily imported for re-export and sent to bonded warehouses if goods are imported or re-exported out of Vietnam via terrestrial bonded warehouses.
This Circular applies to the following subjects:
- Traders participating in temporary import for re-export, transit and storage in bonded warehouses;
- Organizations and agencies managing temporary import for re-export, transit and storage in bonded warehouses.; and
- Organizations and agencies related to temporary import for re-export, transit and storage in bonded warehouses.
The reason for this regulation comes from the fact that more and more organizations and individuals take advantage of the temporary import for re-export to commit acts of smuggling and commercial fraud. Enterprises through loopholes in policies and management to import goods in transit to Vietnam for consumption. This not only causes loss of tax revenue for the State, unhealthy competition with domestic goods, but also adversely affects the environment and people’s health because the products are of poor quality, of unknown origin.
Therefore, this regulation is set out completely reasonable because at the international border checkpoints or primary border checkpoints is always arranged by a well-qualified team of customs officers, the control of entry and exit goods will also become more and more rigorous, and minimize frauds.
To better understand regulations on foreign trade management, please feel free to contact us at:
Ms. Gracie – Juridical Executive of MRS Steel
WhatsApp: 00 84 833 407 55