On 30 August 2019, The Ministry of Finance issued Circular 60/2019/TT-BTC, amending and supplementing some articles of Circulars 39/2015/TT-BTC dated 25 March 2015 regulating Customs value for import and export goods.
Customs value is an important content in Customs management in particular and import and export activities in general. After more than four years of implementation, Circular 39/2015/TT-BTC dated March 15, 2015 regulating Customs value for import and export goods conveys technical contents on Customs valuation of the WTO Valuation Agreement into the national legal document system and fulfilled Vietnam's obligations as a member of the WTO.
However, during the implementation of Circular 39/2015/TT-BTC, there are some shortcomings that need to be amended and supplemented such as regulations on principles, methods have many different understandings that leads to difficulty in research and implementation for organizations and individuals relating to the determination of customs value.
One of the main amendments and supplements in the Circular 60/2019/TT-BTC is on determining customs value for exported goods. According to the Circular 39/2015/TT- BTC, the customs value for exported goods is the selling price of goods at exporting checkpoint exclusive of international insurance cost (I), international freight cost (F) and determined by two methods: (1) The selling price of goods at exporting checkpoint and (2) selling prices of identical or similar goods in the customs database.
The new Circular provides more guidance on the method of determining selling prices for each case, including selling prices up to export border gates; selling prices of identical or similar goods; selling prices in particular cases without contracts or invoices.
In case the exported goods are not delivered at the border gate, but delivered at an inland location, the customs value must include (i) Domestic transportation charges and expenses related to transporting export goods from the place of delivery to the export border gate, (ii) Insurance fees (if any), and (iii) other costs related to exported goods arising from the place of delivery to the export border gate (if any).
The Circular 60/2019/TT-BTC also amended the guidance on customs valuations by the transaction value method for imported goods; customs value of machinery and equipment imported with accompanied operating software…
The Circular takes effect from 15 October 2019.