 MINISTRY Of fiNANCE       Socialist  Republic of Vietnam

    No.54 TC/TCT           Independence-freedom-Happiness

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                                   Hanoi, June 29th 1994.

CIRCULAR

- Guiding the implementation of Article 4 of the Decision No 280 TTg of May 28th 1994 of the Prime Minister on the promulgation of the Export Tax List, the Import Tax List in attachment to the Decision No. 54/CP.

- In implementation of Article 4 of the Decision No280/TTg dated May 28th 1994 of the Prime Minister concerning the promulgation of the Export Tax List, the Import Tax List in attachment to the Decision No 54-CP of August 28th 1993 by the Government, the Ministry of finance hereby specifies concrete guidance on the conditions for the application of the old Export Tax List, the old Import Tax List regarding those lots of Export, Import Goods of which Customs Declaration forms were registered from July 1st 1994 (the date of implementation of the new List of tax rates) afterward that are subject to higher Tax rates provided for in the new Tax List promulgated in the Decision No 280/TTg Dated May 28th 1994 than that of the old Tax List as follows:

1. Contracts of selling or purchasing specific goods (or annex to the principled contract) were Lawfully concluded with the foreign party and were registered with the Ministry of Trade (or the Bureau for issuing export and import licenses of the Ministry of Trade) prior to July 1st 1994.
2. Letter of credit (L/C) was opened for direct payment of those lots of goods with the sum of money equaling to the value of the lots of goods. Or the procedures of payment through the Banks in other forms were fulfilled (with the certification by the B anks) to pay for the lots of goods prior to July 1st 1994. Concerning the cases of payment in other forms (barter. etc...), the Ministry of finance shall handle each specific case.
3. Invoices, Bills were completed prior to July 15th 1994. As regards imported goods, the goods must arrive at the Vietnamese ports prior to or on August 15th 1994 at the latest.
Concerning the imported goods arriving at the Vietnamese ports after August 15th, 1994 for objective reasons, the Ministry of finance shall handle each specific case.
The Customs authorities of provinces, cities carry-out concrete examination, if all the conditions as instructed in this Circular are met, the Import - Export Tax List shall be calculated and collected in accordance with the tax rates of the Old Lists of tax rates. for all cases, in which there have not been sufficient conditions as mentioned above, the tax shall be calculated and collected in accordance with the Export Tax List, the important List promulgated in attachment to the Decision No 280 TTg o f May 28th, 1994 by the Prime Minister. This Circular shall take the effects of implementation as of July 1st 1994. The General Department of Customs shall organize the implementation of this Circular. Any obstacles emerging during the implementation of the Circular should be reported to the Ministry of finance for due Settlement.
for the Ministry of finance
Vice Minister
NGUYEN SINH HUNG
(Signed)