Vietnam’s "People’s Daily" reported on January 5 that, according to Viet News Agency’s report, the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam disclosed that according to the Ministry’s No. 9 Notice, starting from January 1, 2021, the And re-export trade, if it is imported to Vietnam through land borders or re-exported abroad, it can only be carried out through official ports of international ports and bilateral ports.
In particular, the regulations also apply to foreign goods temporarily imported into Vietnam through land borders or re-exported abroad and stored in bonded warehouses.
In layman's terms, starting from January 1, 2021, the Notice No. 09/2020/TT-BCT issued by the Ministry of Industry and Trade of Vietnam will come into effect. The temporary import and export of goods from Vietnam to neighboring countries (other countries) transits from a third country. It will not be able to conduct transactions through the frontier exchanges, but only through the main ports.
Since China is the largest trading country entering Vietnam through land ports, companies that pre-empt tax avoidance through Vietnam for re-export trade should pay attention to avoid unnecessary trouble and losses.
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