TAXABLE VALUE
- Law on Export Tax and Import Tax No. 45/2005/QH11 dated June 14, 2005;
- Customs Law, Law amending and supplementing a number of articles of Customs Law No. 42/2005/QHH11 dated June 14, 2005 (Article 72);
- Law on Tax Administration No. 78/2006/QH11 dated November 29, 2006;
- Decree No. 149/2005/ND-CP dated December 8, 2005 of the Government detailing the implementation of the Law on Export Tax and Import Tax;
- Decree No. 40/2007/ND-CP dated March 16, 2007 of the Government Regulating the determination of customs value for exported and imported goods;
- Circular No. 59/2007/TT-BTC, dated June 14, 2007, guiding the implementation of export and import taxes and tax management for exported and imported goods;
I. Subjects of application: 
– Exported and imported goods.
– In case an international treaty to which Vietnam is a member has provisions different from Decree No 40/2007/ND-CP Government regulations on customs valuation of exported and imported goods; shall comply with the provisions of that international treaty.
II. Taxable value for exported and imported goods:
Customs value for tax purposes is called taxable value.
– For exported goods: taxable value is the selling price at the export border gate (FOB price, DAP price) excluding insurance fee I and transportation fee F.
– For imported goods: taxable value is the actual price paid up to the first border gate of import.
The determination of taxable value is based on documentary information recorded and reflected according to accounting principles prescribed by the Vietnam Accounting Law; generally accepted accounting principles of the country concerned.
III. Time to determine taxable value:
– The time to determine taxable value is the date the customs declarant registers the customs declaration of exported and imported goods. The customs declarant declares and determines the taxable value according to the prescribed form and submits it to the customs authority along with the declaration of exported and imported goods.
– In case the taxable value is determined by the customs authority, the time for determining the taxable value is the date the customs authority determines the value.
IV. Currency and exchange rate to determine taxable value
– Taxable value is calculated in Vietnamese Dong.
– The exchange rate between Vietnamese dong and foreign currency used to determine taxable value is the average transaction rate on the inter-bank foreign currency market announced by the State Bank of Vietnam at the time of tax calculation. published in Nhan Dan Newspaper, reported on the daily website of the State Bank of Vietnam; In cases where the Nhan Dan Newspaper is not published, the news is not published on the website or on the days it is published, the news is posted on the website but the exchange rate is not announced or the information has not been updated to the border gate on the day, then the exchange rate will be calculated. The tax calculation price of that day is applied according to the tax rate of the previous day.
In case the taxpayer declares before the date of registration of the Customs Declaration, the tax rate will be applied according to the exchange rate on the date the taxpayer declared, but not more than 3 days immediately before the date of registration of the Declaration. custom.
For foreign currencies that have not been announced by the State Bank of Vietnam, the average exchange rate on the inter-bank foreign currency market is determined according to the principle of cross-calculation between the US dollar (USD) exchange rate. with Vietnamese Dong and the exchange rates between the US Dollar and those foreign currencies are announced by the State Bank of Vietnam at the time of tax calculation.
V. Methods of determining taxable value:
– Transaction value method of imported goods.
– The transaction value method of imported goods is identical.
– Transaction value method of similar imported goods.
– Deductible value method.
– Calculated value method.
– Deductive method for determining taxable value.
BECAUSE. Order of application of methods for determining taxable value:
The taxable value of imported goods is determined by applying sequentially the methods of determining taxable value from Points 1.1 to 1.6, section V above and stop immediately at the method of determining taxable value.
