Headlines 30/01/2019 10:55 SA

Waiver of requirements for C/O is regulated

Châu Thanh

The Ministry of Industry and Trade has just promulgated the Circular No. 03/2019/TT-BCT (enter into force on March 8. 2019) that prescribes rules of origin set out in the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).

According to this Circular, tradespersons will be entitled to exemptions from requirements for certificates of origin (C/O) in two following cases:

- Customs value of an imported shipment does not exceed USD 1,000 or equivalent to that in the currency unit of an importing member state, or conforms to regulations of an importing member state if these regulations prescribe higher customs value.

- Imported goods obtain exemptions from C/O requirements granted by an importing member state or are permitted not to present C/O by an importing member state. 

C/O is issued by a competent authority and is valid for 1 year or longer after the issue date, subject to legislative regulations of an importing member state.

In addition, the Circular prescribes that authorities and organizations issuing C/O may grant sample CPTPP-compliant C/O to Vietnam’s goods exported ahead of March 8, 2019 for the purpose of being eligible for tariff incentives under terms and conditions of this Agreement and laws of importing member states. 

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