Headlines 19/06/2020 16:13 CH

Mechanism for temporary admission of goods under Istanbul Convention to take effect

Nguyễn Ân

Recently, the Government has promulgated the Decree No. 64/2020/ND-CP providing guidance on implementation of the Istanbul Convention’s temporary admission.

According to this Decree, temporary admission of goods is a regime for management of goods temporarily imported and re-exported, temporarily exported and re-imported into signatory countries and territories to ATA Convention (1961) and Istanbul Convention.

Below are several noticeable clauses of the temporary admission of goods under Istanbul Convention:

- Time limit for temporary import and re-export of temporarily admitted goods is 12 months from the date of completion of customs procedures for temporary importation and exportation, and falls within the useful life of the ATA carnet (including the useful life of the replacement ATA carnet).

- If goods fail to be re-exported before expiration of such time limit, customs declarants must substitute the expired ATA carnet to extend the time limit for temporary exportation or re-importation.

Temporary admission register (ATA carnet) is a document used for temporary admission of goods and accepted as a substitute for customs declaration form which is used for carrying out customs procedures and ensuring payment of import duty, other taxes, late payment interest, fines, fees or charges (if any) applied to temporarily admitted goods.

Decree No. 64/2020/ND-CP is entering into force on July 30, 2020.

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