Under business policy in force in Vietnam since 2011 companies have had access to preferential customs treatment only if they have annual revenue of at least USD 350 million. A new Circular issued by the Ministry of Finance has lowered this threshold and makes access to preferential customs treatment available to more enterprises.
Circular 86/2013/TT-BTC published by Vietnam’s Ministry of Finance, under this circular in Vietnam the financial obstacle for receiving privileged from the customs authorities will be fallen for companies which are involved in the export and import of goods. The new Circular will take effect from 11 August 2013. Also this Circular permits all companies with US$200 million or more in annual trade returns to receive fast-tracked approval from customs agents for the goods they wish to import or export. The previous policy for such preferential treatment required each enterprise to accrue trade revenues in excess of US$350 million.
