The Ministry of Finance promulgates Vietnamese import and export nomenclature

On June 08, the Ministry of Finance issues Circular No. 31/2022/TT-BTC on promulgation of the Vietnamese import and export nomenclature. These regulations are applicable on December 01, 2022.

The objectives that are applicable to this nomenclature are:

-  Organizations and individuals that import or export goods.

- Organizations and individuals that have rights and obligations related to the import, and export of goods.

- Customs offices and customs officers.

- Other state agencies are involved in the coordination of state management of customs and management of imports and exports.

Vietnamese import and export nomenclature
The Ministry of Finance promulgates Vietnamese import and export nomenclature (Illustration)

The Vietnamese import and export nomenclature shall be used to formulate import and export tariffs; compile lists of goods to serve the state management according; make state statistics on imports and exports, and serve the state management of goods import and export and other fields.

Additionally, the Circular also provides six general rules explaining the classification of goods in the Vietnamese import and export nomenclature. based on the International Convention on Harmonized Commodity Description and Coding System of the World Customs Organization.

This Circular replaces the Minister of Finance’s Circular No. 65/2017/TT-BTC dated June 27, 2017, and the Minister of Finance’s Circular No. 09/2019/TT-BTC, dated February 15, 2019, on Vietnam’s nomenclature of exports and imports.

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