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Last updated: Friday, February 17, 2017

 

Tightly Managing Origin, Value of Imported Cars

Posted: Thursday, December 01, 2016


The Ministry of Finance recently directed the General Department of Customs, the General Department of Taxation, customs authorities and taxation authorities of provinces and cities to strengthen management of imported automobiles.
 
The Ministry of Finance said smuggling and fraudulence of imported automobiles are complicated, resulting in social and economic impacts, causing losses to the State Budget, triggering unfair competition, and worsening the business and investment environment.
 
Therefore, the Ministry of Finance requires importers of automobiles (except for automobiles subject to preference cases and diplomatic immunity) to submit certificates of origin (C/O) in the time of performing customs clearance according to Article 13 of Decree 19/2006/ND-CP of the Government and customs records according to Clause 2, Article 16 of Circular No. 38/2015/TT-BTC.
 
Customs offices are obliged to closely examine and compare rules on eligibility, seal specimen and signature of C/O. In case of uncertainty, they need to have the signature and C/O form verified or send written requests to granting authorities to verify the origin of vehicles.
 
In addition to C/O examination, customs authorities must also check Vehicle Identification Number (VIN) and refer to websites of manufacturers to grasp necessary information. Where VIN code has signs of being erased or abraded for new serials printed, customs authorities must have official verification. They are obliged to enhance information exchange about vehicle origin and standards with registry bodies. The Ministry of Finance also required relevant bodies to strengthen management of dutiable value of imported automobiles.
 
Le Hien





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