Furthermore, entities involved in customs clearance must be registered with the Vietnam Customs Department. Special Consumption Tax: This is imposed on specific luxury or demerit goods, such as tobacco, alcohol, and certain types of vehicles.
Vietnam Import Tax License MPI Registration and Compliance
Vietnamese customs authorities utilize the Transaction Value method as the primary assessment tool. Overview of Vietnam's Customs Duty Structure The import tax regime in Vietnam is primarily governed by the Vietnam Customs Law and is updated annually based on the country's socio-economic development goals.
If this value cannot be determined, customs officials will apply alternative methods, such as the Transaction Value of Identical Goods or Computed Value. This method is based on the price actually paid or payable for the goods when sold for export to Vietnam.
Vietnam Import Tax License MPI Registration Requirements
Compliance with these procedures ensures smooth passage and avoids delays that can incur additional storage and demurrage charges. Importers are generally required to pay three main types of taxes: import duty, value-added tax (VAT), and special consumption tax.
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