Circular 126: To amend regulation on temporary import for re-export of petrol

Circular 126: To amend regulation on temporary import for re-export of petrol 15/09/2011 10:44:00 349

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On September 7th, 2011, The Ministry of Finance has issued circular No 126/2011/TT-BTC to amend and supplement some articles of Circular 165/2010/TT-BTC.

 

Accordingly, customs procedure of temporary import for re-export will be applied to activities of exporting and importing petrol of businessman having business licence and selling petrol for serving production, doing business of enterprises in export processing zone, free trade zone, industrial zone and other border gate economic zone, among which regulation of good trading with domestic region is export and import relation.

 

Simultaneously, as for quantity of petrol which is temporarily imported but not re-exported, 10% or less of temporarily imported quantity  will be consumed in domestic, due date for tax payment is 15 days since expire date of temporary import, re-export or temporary export, re-entry.

 

As for quantity of petrol is over 10% of temporarily imported quantity, due date for tax payment is 30 days since the day of signing customs declaration for the exceeded part of 10%.

 

This Circular takes effect since October 21st 2011.

 

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