On 25 March 2015, the Ministry of Finance (MoF) issued Circular 39/2015/TT-BTC (Circular 39) providing guidance for customs valuation with some key points as follows:

• Where reference is made to more than one items of identical or similar goods for valuation of exported goods, the lowest customs value of the identical or similar goods will apply;
• Commercial contracts will be required as a supporting document for valuation of imported goods under transaction value method;
• Where a royalty/license fee is determined and paid according to the sales of imported goods after their import, the importer is required to declare such a fee within 5 working days following the date of payment of such a fee.
• Where a royalty/license fee covers both imports and non-imports and it cannot be separately allocated to the imports, the transaction value method will not apply.

In addition, Circular 39 also sets out specific guidance for valuation of imported goods in special cases, which involve temporary and official import prices and change of registered purpose of use of duty-exempt imported goods, and where the buyer and the seller are related parties.

Circular 39 took effect on 1 April 2015.

Please click PwC Vietnam NewsBrief_circular 39 guiding customs valuation for Vietnamese version.