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Vietnam: Consumer Goods Imported into HCMC Will be Subject to Customs Reference Values

Certain consumer goods imported into Ho Chi Minh City (HCMC), the country’s commercial hub, will now be subject to reference prices set by the customs department. The move follows several recent instances of under-invoicing on the part of importers, resulting in the rejection of their declared dutiable prices following a subsequent customs valuation.

The categories / items set to be covered by this new HCMC customs requirement include automobiles with less than nine seats; motorcycles; bicycles; alcohol; beer; beverages; cosmetics; fabrics; meat; fresh and frozen seafood; instant food; electronics; refrigerators; tablets; mobile phones; vegetables; fruits; confectionary; tiles and sanitary equipment.

No formal date for the imposition of the reference prices has yet been announced.

Content provided by Picture: HKTDC Research
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