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MOF to tighten control over luxury imports
Mobile phone, automobile, motorbikes and cosmetics are the products the import of which would be restricted under a proposal by the Ministry of Finance.
The information was released by Deputy Minister of Finance Tran Van Hieu at the press conference on March 2, 2010. Hieu said that his ministry will check the import items and take necessary measures to curb trade deficit in the time to come. He stressed that the control over the imports of luxury items is really necessary at this moment which aims to harmonise the trade balance.
The General Department of Customs last week also promulgated the list of import items subject to special control in order to avoid trade fraudulence. Mobile phone has been added into the list, together with other products such as foreign made liquor, cosmetics, cars, motorbikes, construction glass and fabric.
This means that the taxable price of import mobile phones will be defined with reference to the price list provided by customs agencies. This will help discover the cases, where importers deliberately declare the taxable value lower than the actual value in order to evade tax.
Customs agencies said that the number of trade fraud cases has been increasing. The Vietnam Automobile Manufacturers’ Association (VAMA) last year sent a petition to government agencies, requesting to take strict control over the import price declarations by importers.
In the document to government agencies, VAMA wrote that its member companies once expressed their worries about the price declaration frauds several years ago. However, the situation has become more serious recently.
The General Department of Customs (GDC) then promulgated a new reference price list of import items which local customs agencies refer to when considering declared value of import items. However, GDC said that this is the work the agency does regularly to combat trade fraudulence, not only because of the alert of the automobile manufacturers.
VietNamNet, VNE
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