Vietnam Updates: Automobile importers under customs audit

November 2016 | Vietnam

Ho Chi Minh City Customs Department (HCMC CD) has performed multiple customs audits on automobiles importers in Ho Chi Minh City during October 2016. For the period from January 2011 to September 2016, HCMC CD alleged that some automobile importers under-declared the values of the imported cars. Accordingly, HCMC CD has issued assessment of up to VND 888 billion (approximately US$ 40 million) in import duty, special sale tax and Value Added Tax from those automobile importers.

The General Department of Customs has requested Customs Department in Hanoi, Hai Phong, Da Nang and Vung Tau to perform inspection on automobiles importers in local area. This is a coordinated approach to examine import values across Vietnam, and is an example of the increasingly common method of looking at a whole industry at one time.