Headlines 30/05/2020 14:44 CH

Regulations on C/O submission deadlines during Covid-19 period

Tường Vy

Ministry of Finance issues the Circular No. 47/2020/TT-BTC regulating deadlines for submission of Certificates of Origin (C/O) and C/O forms to be applicable to imported cargoes during the Covid-19 period.

According to the Circular, deadlines for submission of Certificates of Origin (C/O) and C/O forms to be applicable to imported cargoes during the Covid-19 period as follows:

- Customs declarants have to submit C/Os at the time of implementation of customs procedures to be entitled to special preferential tariff rates under the provisions of point a of clause 1 of Article 7 in the Circular No. 38/2018/TT-BTC dated April 20, 2018.

- If C/Os have not yet been shown at the time of submission of customs declaration documents to have access to special preferential tariff rates, the following specific regulations will take effect:

+ Customs declarants must declare their late submission of C/O in their import customs declarations, and may be allowed to make additional declaration or submit C/Os later during the period when these C/Os remain valid.

+ Customs declarants must make declaration Most-favored Nations’ preferential import duty rates or ordinary import duty rates, and may be allowed to submit C/Os later during the validity period of these C/Os.

+ Customs authorities must refund excessive duties.

The Circular No. 47/2020/TT-BTC is set to commence on January 23, 2020 and officially applied to import customs declarations from January 23, 2020.

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