Price validation in importing activities
Under current regulations, importers/exporters have the right to request for price validation whentheir declared dutiable values are challenged by customs authorities. How to perform the right in practice and to what extent this right benefits respective enterprises?
On what basis that Customs authorities challenge the declared value by enterprises? What are the common queries that Customs authorities may have during the price validation process?
To clarify the above questions, we focus in the following matters in this issue:
►Definition of price validation.
►Rights and responsibilities of Customs authorities and enterprises in price validation process as regulated in Circular No. 205/2010/TT-BTC ( Circular 205) and Circular No. 29/2014/TT-BTC (Circular 29) of amending, supplementing Circular 205.
►Validation in practice during customs clearance process.
►Our recommendations in relation to price validation.
Please click EY Vietnam_ Spotlight on tax_ February 2015 for more information