Recently, the Viet Nam Sugarcane and Sugar Association said that domestic sugar producers were experiencing difficulties due to low prices on the market, increasing stockpiles and illegal imports from China.—Photo adiovietnam

HA NOI (Biz Hub)— The Ministry of Finance has asked provincial customs departments to tighten the management of goods which have been temporarily imported for re-exporting or stored in bonded warehouses, in a move to prevent trade fraud and smuggling.

The ministry also announced a halt to the procedure for transporting goods from abroad to bonded warehouses in Viet Nam. This will include those which have been levied with a special sales tax (liquor, beers, cigars, cigarettes and vehicles with less than 24 seats) and products that are subject to a tariff-rate quota such as sugar, salt and eggs with documentation issued after July 10.

Regarding temporarily-imported sugar for re-export, the ministry said that the taxes due must be paid to customs departments, and they will then be refunded at a later date, after the sugar is re-exported.

On-site checks must be carried out on every container that holds temporarily-imported sugar and smuggling or the illegal transportation of sugar must be handled very firmly, said the ministry.

Recently, the Viet Nam Sugarcane and Sugar Association said that domestic sugar producers were experiencing difficulties due to low prices on the market, increasing stockpiles and illegal imports from China.

The volume of unsold sugar totalled almost 490,000 tonnes in June, higher than figures released for the same period in 2012. — VNS