GUIDANCE ON IMPLEMENTATION OF TEMPORARY ADMISSION MECHANISM ACCORDING TO THE ISTANBUL CONVENTION
On June 10, 2020, the Government issues the Decree No. 64/2020/ND-CP on providing guidance on the implementation of the temporary admission mechanism under the Istanbul Convention.
As prescribed in this Decree, Carnet (ATA Carnet) means documents used for the temporary admission of goods, it can be accepted in lieu of the customs declaration for customs procedures and ensuring payment of import duty, other taxes, late payment interest, fines and charges, fees (if any) with respect to temporarily admitted goods. The ATA Carnet is valid for 12 months from the date of its issuance.
The granting agency of the ATA Carnet in Vietnam is the Vietnam Chamber of Commercial and Industry (VCCI). The dossier of request for granting the ATA Carnet comprises:
Firstly, 01 original copy of the written registration of signature of the person authorized to sign in the written request for grant of the ATA Carnet and the stamp form of the enterprise (in case the applicant for granting the ATA Carnet is an organization).
Secondly, 01 original copy of the written request for granting the ATA Carnet.
Thirdly, 01 original copy of the letter of guarantee issued by the credit institution, foreign bank branch or a paper of payment to the VCCI...
In addition, this Decree also states that the security amount to issue the ATA Carnet shall be determined by the VCCI by 110% of the importation tax and other highest tax payment of the country has temporary admission goods passes by. In case the security amount is not enough for importation tax payment, other tax payment, late payment, fine, charge and fee (if any) of the temporary admission goods, the owner of ATA Carnet shall have the obligation to pay the shortage for the VCCI.
This Decree takes effect from July 30, 2020.
