Dossier on Import Tax Exemption for Goods Serving the Printing and Minting of Currency

07:44, 11/07/2024

The Law on Export and Import Tax stipulates: Machinery, equipment, raw materials, supplies, components, parts, and accessories imported for the purpose of printing and minting money are classified as goods exempt from tax.

However, the machinery, equipment, materials, supplies, components, parts, and accessories imported must be within the List of Goods issued by the Governor of the State Bank of Vietnam and imported by the organizations designated by the State Bank.

Tax Exemption Dossier Includes:

- The customs dossier is carried out according to the provisions of customs law;-- 01 photocopy with the true copy seal of the original document from the State Bank permitting the organization to import machinery, equipment, materials, supplies, components, parts, and accessories for money printing and minting activities.

Tax Exemption Procedures:

- Taxpayers shall self-determine, declare goods and tax amount exempted (except for the declaration of tax amount payable for export, import goods for processing provided by the processing taxation side) on the customs declaration when carrying out customs procedures and shall take responsibility for the declared contents;- The customs authority shall base on the tax exemption dossier, compare with current regulations to implement tax exemption;

In case it is determined that the imported goods do not fall under the tax exemption category as declared, tax will be collected, and violations will be sanctioned.- The electronic data processing system automatically deducts the quantity of exported and imported goods corresponding to the quantity of goods in the Tax Exemption List:- In case the List is notified in paper form, the customs authority shall update and deduct the quantity of exported and imported goods corresponding to the quantity of goods in the Tax Exemption List.- In case of tax-free import according to the complex, assembly line, requiring multiple shipments to complete the assembly, the quantity of goods cannot be deducted at the importation time; within 15 days from the end of the importation of the final shipment of each complex, assembly line, the organization or individual shall summarize the imported declarations and finalize with the customs authority according to the tax management law.