Vietnam Issues Tax Payment Deadline Update for Imported and Exported Goods
As of March 8, all imported and exported goods that must be “analyzed and verified to accurately determine the payable tax amount” will require the tax-paying entity to temporarily pay tax on the goods before they are released, a Vietnamese…
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customs magazine reported March 10. If additional analysis and verification of the goods results in an increase in the tax amount required of the importer or exporter, the taxpayer must pay the difference between that and its declaration within five business days of receiving the request for additional declaration. Customs authorities are responsible for handling overpaid amounts if the levied tax amount on imports and exports was too high.