U&I Logistics - Goods temporarily imported for re-export is an important business method in international trade. However, importing and exporting these goods requires businesses to comply with customs regulations and meet the legal requirements of both countries involved. Therefore, U&I Logistics will provide readers with basic information about temporary import for re-export and procedures for temporary import for re-export through the article below.
Law on Foreign Trade Management No. 05/2017/QH14 approved by the National Assembly of the Socialist Republic of Vietnam, term XIV, 3rd session, on June 12, 2017. Circular No. 11/2017/TT-BCT regulating temporary import for re-export; temporary export, re-import and border-gate transfer of goods.
Temporary import can be understood simply as the import of goods for a short time (“temporary”) into the territory of Vietnam. Normally, after being imported into a country, goods will be kept in that country for distribution to the market or for a certain purpose of the importing enterprise in production and business. circulation in the Vietnamese market. However, in the case of temporary import, the imported goods are not intended for circulation in the Vietnamese market but after a short time are exported to a third country.
Re-export is the next process of temporary import. After the goods are cleared through customs and imported into Vietnam, they will be re-exported to another country. In essence, these goods are exported twice, exported from the first country, then temporarily imported into Vietnam and then exported to another country, so it is called re-export.
In other words, temporary import for re-export is when goods are brought from abroad or from special areas located in the territory of Vietnam which are considered as separate customs areas according to the provisions of law into Vietnam. procedures for import into Vietnam and procedures for exporting such goods out of Vietnam.
Goods traded in temporary import for re-export have the following characteristics:
As prescribed at Decree No. 69/2018/ND-CP. Currently, there are 05 forms of temporary import for re-export:
Temporary import for re-export is an important economic activity in expanding markets and enhancing import and export activities. The benefits of temporary import for re-export include:
However, businesses need to understand the legal regulations and strictly follow customs procedures to take advantage of these benefits.
Customs procedures for goods temporarily imported for re-export are specified in Article 82, Circular 38/2015/TT-BTC Regulations on customs procedures; customs inspection and supervision; export tax, import tax and tax administration for exported and imported goods promulgated by the Minister of Finance, specifically:
Customs dossiers of temporary import include:: documents in import customs dossiers, at the same time, enterprises must prepare additional documents
Place of customs clearance: Sub-department of Customs at the border gate where temporarily imported goods are stored.
Customs dossiers for re-export include: papers in export customs dossiers. In the case at the time of carrying out customs procedures for temporary import, the customs declarant makes a paper customs declaration made according to the form HQ/2015/NK Appendix V issued with Circular 38/2015/TT-BTC, when doing so customs procedures for re-export, the customs declaration is also made on the paper customs declaration form HQ/2015/XK Appendix V issued with this Circular.
Above are detailed information about the business of temporary import for re-export as well as procedures for temporary import for re-export in Vietnam. Hope the information from the above article will help your work.
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