On October 9, 2013, the Ministry of Finance promulgated Circular No. 139/2013/TT-BTC, on customs procedures for petrol and oil exported, imported, temporarily imported for re-export and transferred from/to border gate;
Materials imported for production and preparation of petrol and oil; and materials imported for export processing of petrol and oil.
Accordingly, petrol and oil temporarily imported for re-export may be retained in Vietnam within a time limit which doesn’t exceed 120 days from the time of completing customs procedures for temporary import. When a lot needs to be retained in Vietnam for a longer period due to a force majeure circumstance or change in the conditions and time of goods delivery stated in the goods purchase and sale contract, traders shall request in writing customs branches at which they carry out temporary import procedures to extend this time limit. The request must be approved by customs branches before the expiration of the time limit for temporary import for re-export. For each lot temporarily imported for re-export, extension may be made 2 (two) times at most, each not exceeding 30 (thirty) days. So far, the total time limit that petrol and oil temporarily imported for re-export may be retained in Vietnam does not exceed 180 days.
Also in this Circular, Petrol and oil already temporarily imported but not re-exported or fully re-exported may be sold domestically. After obtaining the approval from the director of the Customs Department, traders shall register new declarations for carrying out procedures for the volume of petrol and oil for domestic sale according to the form of commercial import; tax policies and policies on management of imported petrol and oil will be applied at the time of registration of declarations for domestic sale.
This Circular takes effect on November 25, 2013.
Download here: 54948_139-2013-TT-BTC
Source: www.luatvietnam.vn
