On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK in 2022 on tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Dispatch 1400 has recorded the guidance of the General Department of Customs related to additional declarations for goods rented or borrowed from export processing enterprises, the following will be detailed information:
Conditions for additional declaration according to regulations:
(1) Rented or borrowed goods are on temporary import declarations registered from October 15, 2019 (the effective date of Circular No. 60/2019/TT-BTC) and have not been re-exported; and
(2) The renting or borrowing enterprise determines that there is an error in the customs value declaration; and falls into the cases where it is allowed to make additional customs declarations according to the dutiable value of the rented or borrowed goods specified in Clause 9 Article 1 of Circular 60/2019/TT-BTC dated August 30, 2019, of the Ministry of Finance.
– The customs authority shall check the conditions for additional declaration, the customs value of additional declaration, tax policy, and regulations on the additional declaration for handling according to rules.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for information about newly issued legal regulations, not used to advise or apply to specific cases.

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