Their September 2019 publication of our monthly Tax and Accounting Updates looks at amendments to methods for customs values for import and export taxes, and covers our regular review of recent Official Letters released by the Tax Authorities.


On 30 August 2019, the Ministry of Finance issued Circular 60/2019/TT-BTC, amending regulations on determining customs values for imported and exported goods detailed in Circular 39/2015/TT-BTC dated 25 March 2015.

Significant amendments and supplements from this Circular include
a) For exported goods, the Circular provides guidance on the method of determining selling prices for each case, including selling prices up to export border gates; selling prices of identical or similar goods; selling prices in particular case without contracts or invoices (Clause 3 Article 1).

b) Under the new regulations, where the exported goods are not delivered at the border gate, but delivered at an inland location, the customs value must include (i) Domestic transportation charges and expenses related to transporting export goods from the place of delivery to the export border gate, (ii) Insurance fees (if any), and (iii) other costs related to exported goods arising from the place of delivery to the export border gate (if any) (Clause 3 Article 1).

c) For imported goods, the Circular amended the guidance on customs valuations by the transaction value method (Clause 5 Article 1), and inference method (Clause 7 Article 1).

d) For imported goods that are machinery and equipment with control software, the customs value will include the value of the software (except software upgrades and replacement) and the cost paid for the right to use the control software (Clause 5, Article 1).

The Circular takes effect from 15 October 2019.

For more information, click HERE.