FIEs praise removal of import plan registration requirement

07-Dec-2006 Intellasia | 05/Dec/2006 Saigon Times Daily Page 2 | 4:17 PM Print This Post

Foreign-invested enterprises (FIE) have applauded a Ministry of Trade decision to take off requirements for import plan registration and for certification of tax exemptions for machinery imports.
An official dispatch issued by the ministry late last week says FIEs can actively import materials and machinery for their local production without having to ask the ministry for approval as previously.
They will not need any approval from ministry-designated agencies when they process import-export paperwork at border gate customs offices.
For tax exemptions, FIEs are responsible for making customs declarations on their own, according to the dispatch, which is in place pending a circular providing guidelines for imports and exports by FIEs under the 2005 Investment Law.
Mai Thanh Hai, deputy general director of electrical cables producer Vinadaesung and chairman of the Vietnam Association of Foreign-Invested Enterprises, said the foreign business community had praised the latest move by the Ministry of Trade.
The move shows a positive step to streamline administrative procedures to make life easier for FIEs, he added.
He said FIEs had faced a lot of difficulties due to the import plan and tax exemption certification requirements, which forced companies to employ extra staff or even pay for corrupt officials under the counter to get their job done quickly.
In fact, these requirements could not help the ministry with state management work, he said, adding that if the ministry wanted information about import-export operations, it could go to the customs.
Similarly, FIEs that have sufficient import documentation for machinery used as fixed assets do not need to get certification, he added.


Category: Legal

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