To facilitate FDI enterprises in using the Tax Exemption List, Customs sub-department of investment goods management - Ho Chi Minh City Customs Department provided detailed instructions for businesses as following:
According to the provisions of Clause 15, Article 1 of Decree No. 18/2021/ND-CP, amending and supplementing Article 30 of Decree No. 134/2016/ND-CP regulating the responsibilities of the using of tax-free goods and notification of the using of tax-free goods on the Tax Exemption List, annually, within 90 days from the end of the financial year, enterprises are responsible for reporting the situation of the using of tax-free goods in the financial year to Customs sub-department of investment goods management until the entire project is ended or the goods have been re-exported out of the Vietnamese territory or the goods have changed the purpose, transferred to domestic consumption, and have been destroyed.
If FDI enterprises do not submit notification of the using of tax-free goods on time, FDI enterprises will be subject to administrative penalties from 2 – 5 million VND according to Point b, Clause 3, Article 7 of Decree No. 128/2020/ND-CP.