TRADERS THAT DON’T HAVE LICENSE MUST ENTRUST ANOTHER ENTERPRISE TO IMPORT USED CARS
On January 22, 2020, the Ministry of Industry and Trade issues the Circular No. 04/2020/TT-BCT on providing regulations on auction of import tariff quotas of used automobiles according to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Accordingly, the Ministry of Industry and Trade must have a written notice on assigning the use rights of import tariff quotas of used automobiles for traders winning the auction within 14 days after having result of the Auction Council.
The auctions must comply regulations of law on auction. The auction is held in the first quarter of each year and may be extended, but no later than April 15. Tariff quotas shall be
assigned to traders in the order of high to low prices. The Auction Council does not require a minimum bid to join or receive quota distribution through auction. The auction information and procedures of submission of auction application shall be publicized via the mass media at least 30 (thirty) days before the date of auction.
Traders importing used automobiles must be granted licenses for the import and business of automobiles by the Ministry of Industry and Trade. In case trader who does not have a license for the import and business of automobiles join in the auction and win, they may entrust another enterprise having such license to import.
This Circular takes effect on March 05, 2020.
