Enterprises will have more chances to be granted with customs priority policy from July 14 this year. — Photo bizlive.vn

The Circular 72/2015/TT-BTC, which will take effect from July 14, 2015, changes several export and import turnover conditions, which draw the maximum attention of the business community.

Under the new regulation, a company will need to have only US$100 million upward of export and import turnover a year, instead of the current cap of US$200 million, to be considered a priority enterprise.

The conditional export revenue of an agricultural and fisheries company will be US$30 million a year instead of US$50 million.

A company that manufactures goods for export in Viet Nam will be considered for the status if it draws US$40 million in revenue a year instead of the current condition of US$50 million.

The new circular also clarifies post-clearance examination methods and the power of issuing decisions on examination to priority enterprises.

Under the new regulation, the receipt and evaluation of customs papers will be decentralised to local customs departments instead of the General Department of Customs because when the scope of beneficiaries is widened, more companies will become qualified for the status.

It also adds key national projects to the list of priority enterprises.

The new contents are aimed to further facilitate law-abiding businesses to become priority enterprises. With this view, the scope of priority enterprises will become wider, rather than comprising only exporters and importers as previously.

According to the new ruling, two new entities may be certified priority enterprises, including customs agents and organisations/individuals importing goods to carry out key projects approved by the Prime Minister.

Priority enterprises will be free from post-clearance inspections at customs offices except in case of law violations. Post-clearance customs shall not perform one check at the office of customs declarers in three straight years except in case of suspected customs law violations.

The power of making post-clearance inspection decisions at head offices of priority enterprises is decided by the General Director of the General Department of Customs. According to post-clearance customs officers, the new ruling will make the business and investment environment of Vietnam more attractive.

The new circular will replace Circular 86/2013/TT-BTC and Circular 133/2013/TT-BTC.

According to the General Department of Customs, more than 50 countries in the world are now applying a so-called enterprise priority programme. Although each country has different levels of application, they are based on a common foundation: standard frame for security standards and global trade facilitation built by the World Customs Organisation (WCO).

Customs authorities in 27 countries have so far signed agreements on the mutual recognition of priority businesses. In Viet Nam, the programme was started on a pilot basis in 2011. This policy will help beneficiaries save a lot of time and cost in dealing with clearance procedures for goods.

Some 35 companies in Viet Nam are presently enjoying the priority policy of the customs. The most significant among them is Samsung Group, whose seven companies are set to be granted the priority status. More exporters and importers are expected to be granted the priority status in the coming time. — VNS