All Exhibitor shipments need
to be inspected and cleared by the Customs Department in Ho Chi Minh City,
Vietnam prior to delivery to Exhibitors at the Fair. This is an important
process and therefore Saigon Jewelry Company Limited has appointed Brink’s as
the official logistics provider for the Fair for all valuable cargo
shipments. Exhibitors are therefore advised to contact Brink’s Vietnam
for further details:
Brink's Vietnam
Room 407A, 4/F,
SCSC Cargo Terminal
30 Phan Thuc Duyen Street, Ward 4, Tan Binh District, Ho
Chi Minh City, Vietnam
Tel: +84 28.3844 4681 Fax: +84 28.3844 4696
Brink’s can offer their
Door to Door round trip service or process Hand Carry shipments so Exhibitors
will need to make arrangements directly with Brink’s so that all shipments can
be processed smoothly on time following their required timetable. There are
specific Customs requirements regarding shipment documentation which need to be
followed and Brink’s can advise in more detail.
For all matters
regarding Overnight Storage then Exhibitors should contact SJC directly as we
will be providing this service. Below is an outline of the applicable
Duty/Taxes system for the Fair:
There are 4 kinds of
Import Duty/Taxes relevant to Exhibitors regarding their participation in the
Fair and these are:
- Import Duty
- Import VAT
- Sales VAT; and
- Corporate Income Tax.
These all apply on
Exhibits SOLD at the Fair and declared Gift.
The Calculation of all Import Duty and Taxes will be based
on the official shipment documents provided by the Exhibitor to Brink’s Vietnam
who will process all related issues with Customs.
Exhibits for
display only (not for sale) shall be exempt from Import Duty and Taxes.
It is not
necessary to obtain a C/O for Exhibits brought in for display. Nevertheless
these items will still be subject to Customs inspection.
Those Exhibitors who wish to qualify for preferential Import Duty
rates as shown below need to obtain the relevant C/O Form as mentioned below.
This Form must be issued by the relevant official authority in the Country of
Origin. The Exhibitor name, address and description of goods (value, quantity,
description) on the C/O Form must match the Invoice/Packing List.
Exhibitors are recommended to speak to Brink’s Vietnam further about this if
required.
1) Import Duty & Import VAT:
· Calculation
method:
- Import Duty: CIF Price x
Applicable Import Duty %
- Import VAT: (CIF Price + Applicable Import Duty) x
VAT %
LIST OF IMPORT DUTY AND IMPORT VAT RATES
(SUBJECT
TO CHANGE IN CUSTOMS REGULATIONS)
DESCRIPTION
|
IMPORT
DUTY (%)
|
IMPORT
VAT (%)
|
MFN
|
CEPT/ATIGA
or ACFTA or AKFTA
(Form
D/E/AK )
|
VJEPA
(Form
JV)
|
AANZFTA
(Form
AANZ)
|
|
Natural Loose Pearls and
Natural Temporarily Strung Pearls
|
30
|
0
|
6
|
0
|
10
|
Loose Polished Diamonds
|
0
|
0
|
0
|
0
|
10
|
Loose Precious Stones
|
0
|
0
|
0
|
0
|
10
|
Silver
jewelry
|
30
|
0
|
6
|
0
|
10
|
Gold
jewelry
|
25
|
0
|
0
|
0
|
10
|
Articles of natural or
cultured pearls, precious or semi-precious stones
|
30
|
0
|
6
|
0
|
10
|
Automatic/Quartz
Watches
|
15
|
0
|
0
|
0
|
10
|
Mechanical/Digital
Watches
|
20
|
0
|
0
|
0
|
10
|
Exhibitors who plan to
bring in different Exhibits to the Fair other than shown above are required to
contact Brink’s Vietnam in advance so that clarification can be made with
Customs on the applicable rates to be applied and also whether such items are actually
legally able to be brought into Vietnam.
As shown above, the
Import Duty Rate to be applied varies depending on their origin:
- MFN:
for goods imported from countries which have signed the MFN in commercial
trading with Vietnam declared by the Exhibitor who is responsible for such
declaration. Imported goods not included in the
MFN list of countries will be subject to a tax rate of 150% of the MFN rate.
- CEPT/ATIGA: for goods imported
from ASEAN (10 countries) under AFTA scheduled from 2015-2018. C/O Form
D is required.
- ACFTA: under the Commercial
Agreement between ASEAN-CHINA applied to goods imported from ASEAN +
CHINA. C/O Form E is required. C/O Form E is not accepted for
shipment originally departing from Hong Kong.
- AKFTA: under the Commercial
Agreement between ASEAN-KOREA applied to goods imported from ASEAN +
KOREA. C/O Form AK is required.
- VJEPA: under the Commercial
Agreement between VIETNAM-JAPAN applied to goods imported from JAPAN. C/O
Form JV is required.
- AANZFTA: under the Commercial
Agreement between ASEAN-AUSTRALIA-NEW ZEALAND applied to goods imported from
ASEAN-AUSTRALIA-NEW ZEALAND. C/O Form AANZ is required.
1.2. Sales VAT and
Corporate Income Tax
The exhibitors
have to sell exhibits only in Vietnam Dong (the Vietnamese
currency).
The outline for
applicable Sales VAT and Corporate Income Tax is calculated as a % of the total
Sales Turnover by the Exhibitor at the Fair:
DESCRIPTION
|
SALES VAT
|
CORPORATE INCOME TAX
|
TOTAL
|
Sales
of all kinds of goods.
|
1%
|
2%
|
3%
|
Exhibitors have to fill
in the below form which give details of the Sales Turnover of the day. At the
end of each day, exhibitors will hand over to the organizer this form.
If exhibitor’s customers
need the invoice immediately. Please come to organizer room at the Fair for
assistance.
On the last day of the
Fair, The Organizer will issue the legal invoices based on the filled form and
collect the Sales VAT and Corporate Income Tax. The legal invoices are important documents for transfer money out
of Vietnam. The value of the money which will be transferred abroad has
to be less than or equal to the total amount of sales turnover in these
invoices.
Note: Exhibitors need to
be aware that the maximum amount of cash they are legally able to bring in or
out of Vietnam per person is US$ 5,000 (or its equivalent in another
foreign currency) and 15 million Vietnam Dong. This is also
outlined on the “Arrival - Departure Declaration” Card that every person needs
to complete when entering / exiting Vietnam.
Please visit https://brinksglobal.com/ for more infomation.
|