For Vietnamese companies, importing and exporting goods can be difficult. A general, step-by-step guide to import and export procedures in Vietnam is provided in the Vietnam Briefing. We also examine licence permit requirements, customs processes, imposed duties, and registration.

Vietnam's economy, once one of Southeast Asia's smallest, is now one of the world's fastest-growing. The nation is currently the second-largest trading partner in ASEAN and the 16th-largest trading partner in the EU. In the first half of 2020, Vietnam was the second-largest exporter to the United States and China's sixth-largest trading partner.

Given the high level of interest from international investors in Vietnam, they must comprehend the import and export policies of the nation.

Requirements for Licence Permits, Legal Entities, and Registration

To conduct import and export operations in Vietnam, a business does not need a special import or export licence.

Establishing a trading company is the most popular structure for investors wishing to participate in import and export operations as well as domestic product distribution. There is no minimum capital input needed for this low-cost establishment option.

However, to legalise the procedure, an importer must seek an additional trading licence if they wish to sell imported goods to Vietnamese consumers. Getting a trade licence can take one to three months, while starting a trading firm takes about three months.

In reality, businesses can use an importer of record to streamline the procedure if they wish to import into Vietnam without establishing a local legal firm. This tactic enables international companies to overcome logistical, legal, and linguistic obstacles if they are time-constrained, want to test the market, or only import occasionally.

Companies do need government approval for some commodities. Moreover, cigars, tobacco, petroleum oils, newspapers and journals, and aeroplanes are prohibited from importation, while petroleum oil is prohibited from exportation.
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Also read: How Do Remote Design Teams in Vietnam Handle Global Payments Easily?

Procedures for Customs

The Vietnam customs clearance requirements, which efficiently verify the quality, specifications, amount, and volume of the items, apply to all imports and exports into Vietnam. Among these, some imported items must pass inspection.

For instance, imported medications need to be tested and come with documentation (in Vietnamese) that explains how to use the product, how much to take, and when it expires. These materials also need to be on the product's package.

At the moment, Law No. 54/2014/QH13 lays out the customs of Vietnam.

Vietnam Requires Customs Paperwork

Businesses that import or export goods are required to provide customs officials with a dossier of documents, which must contain at least the business registration certificate and the import/export business code registration certificate. Authorities may ask for the following extra documentation, depending on the imports or exports in question:

Importing items requires the following documents:

Vietnamese Customs states that businesses that frequently import and export the same exact goods within a specified time frame may complete the necessary customs procedures using a single customs declaration form as long as the goods are listed under the same purchase and sales contract and are delivered within the specified delivery time on the purchase contract. You can file the customs declaration online here.

To further streamline international trade operations, businesses can leverage platforms like TransFi BizPay, which offer rapid onboarding and facilitate cross-border transactions with minimal fees. BizPay supports over 250 payment methods across more than 100 countries, enabling companies to manage global payments efficiently and compliantly. Its AI-driven dynamic routing ensures optimal transaction paths, enhancing speed and cost-effectiveness in international dealings. 

Priority Handling by Customs

You can ask for priority treatment if you want to lower the costs of customs compliance in Vietnam. Qualifying businesses will be eligible for several benefits under this program, such as:

• exemption from the physical inspection of goods;
  
• exemption from the review of additional customs documents;
  
• the ability to file customs declarations that are not full. It should be mentioned that customs declarants will have to submit complete customs declarations within 30 days of the date that incomplete declarations were registered or that documented proof was submitted instead of customs declarations; or
  
• We prioritised access when completing tax paperwork for products that adhered to tax laws.
  

For businesses to receive preferred customs treatment, they must meet several requirements. Decree No. 08/2015/ND-CP describes the following requirements:

• adherence to the tax and customs laws during two years starting on the day the business submits a priority application;
  
• adherence to accounting and auditing laws, followed by adherence to Vietnamese Accounting Standards (VAS);
  
• upkeep of a system and procedure for overseeing, managing, and regulating supply chains for imports and exports; and
  
• upholding particular standards for import and export turnover. A US$100 million yearly turnover is necessary for importers and exporters. Vietnamese exporters of agricultural products are only required to demonstrate a turnover of US$30 million, while those that export goods manufactured in Vietnam are subject to an annual turnover of merely US$40 million.
  

Import and Export Duties Are Imposed

Import Taxes Are Applied

Almost all products imported into Vietnam are subject to taxes, including import taxes, value-added taxes (VAT), and special consumption taxes (SCT) for certain goods. The nature and place of origin of the commodities determine the import tax rates. Luxury and consumer goods, for instance, are heavily taxed, whereas raw materials, machinery, and equipment typically pay less in taxes or are even exempt from them.

The duty rate for imported goods can be separated into three categories based on the items' place of origin: standard rates, special preferential rates, and preferential rates.

• In their economic relations with Vietnam, goods from countries, groupings of countries, or territories that use the most favoured country treatment are subject to preferential tax rates.
  
• Special preferential tax rates apply to goods originating from countries, groupings of countries, or territories that provide Vietnam preferred import tax treatment. Currently, it mostly pertains to ASEAN nations that are covered by common preferential tariffs (CEPT).
  
• Goods entering Vietnam from countries, groupings of countries, or territories that do not enjoy preferential treatment or special import tax benefits are subject to regular tax rates. The government-specified preferential tax rates will not be more than 70% higher than the ordinary tax rates.
  

The official website of Vietnam Customs offers details on import taxes. You must pay import tariffs and notify the appropriate customs authorities when filing customs declarations prior to receiving consumer goods.

Export-Related Taxes

Unlike those that are imported into Vietnam, most goods and services that are exported from Vietnam are free from taxes. Only a limited number of goods—mostly natural resources including minerals, forest products, and scrap metal—are subject to export duties, which are determined by the free-on-board (FOB) price and vary from 0% to 45%.

VAT is used on many different items. Furthermore, the Law on Special Consumption Tax (SCT) imposes SCT on exporters who purchase SCT-taxable commodities for export but then resale them locally. Export duty disclosures must be submitted at the time of customs office registration; however, payment may be made within 30 days following registration.

Tax-Free Products

Certain situations may exclude both imported and exported goods from taxes. They include the following:

• importing goods to create fixed assets for projects that qualify for investment incentives or are financed by official development assistance (ODA) capital sources;
  
• importing goods to support petroleum-related activities;
  
• importing goods for direct use in scientific research and technological development activities;
  
• importing goods for processing for overseas partners before exporting or exporting to other countries; and
  
• importing goods for processing for Vietnam before reimporting under processing contracts.
  

Import Documentation Checklist

• bills of lading
  
• certification of origin
  
• cargo release order
  
• commercial invoice
  
• customs import declaration form
  
• inspection report
  
• packing list
  
• delivery order (for goods imported through seaports)
  
• import goods declaration form
  
• import permit (for restricted goods)
  
• technical standard/health certificate
  
• receipts for terminal handling
  

Export Documentation Checklist

• Electronic export customs declaration (E-Form HQ/2015/XK)
  
• commercial invoice
  
• export permission
  
• packing list
  
• bill of lading
  
• contract
  
• certificate of origin
  
• technical standard/health certificate
  

For full container loads (FCL) and less than container loads (LCL), import shipments typically take one to three days to complete, whereas export shipments may be completed the same day.