Q: My company has investment projects abroad, now need to bring machinery abroad to implement. Please ask, the company will have to customs procedures for these machines in the form of “temporary export – re-import” is correct? Do “export – import” goods have to pay export tax?
ANSWER: Pursuant to Point XIV, Section 2, Part B of the Finance Ministry’s Circular No. 112/2005 / TT-BTC dated December 15, 2005, guiding customs procedures, inspection and supervision For goods being machinery and equipment temporarily exported for re-import in service of the construction of works or investment projects, the provisions of such regulations apply to goods exported or imported for commercial purposes. The type of declaration is “temporary export – re-import” type. When declaring details on the declaration form, the part of the goods name, the company shall have to declare in full and in detail the technical parameters of the machinery and equipment. For cars, the frame numbers and serial numbers must be inscribed so that the customs offices can check and compare them when they are temporarily exported as well as when they are re-imported. For “temporary export-re-import” goods for the construction of works Overseas, according to the provisions of Point 1.1, Section I, Part D of the Finance Ministry’s Circular No. 59/2007 / TT-BTC of June 14, 2007, guiding the implementation of import tax and export tax and management The tax on imported or exported goods is exempt from export tax and import tax. Within a time-limit of no more than 90 days after the completion of work abroad, the company must declare and carry out procedures for re-import of such machinery and equipment back to Vietnam.