New rules for firms in fuel trade

Starting from Octorber 21, domestic merchants providing petrol to manufacturers at open economic and cross-border industrial zones will be subject to temporary import and re-export laws, according to the Ministry of Finance (MoF).

As part of the new policies, fuel-trading activities between licensed traders and producers will be required to operate in accordance with General Department of Customs procedures.

Fuel, temporarily imported, but not as yet re-exported, will be made available on the domestic market after paying the full import tax.With regards to petrol for re-export, when dealing in jet gasoline, traders must submit or show registered customs declarations, stock issued dockets, invoices and copies of gasoline quantums for domestic routes in case of international flights via domestic routes.

Tags: Vietnam fuel, Vietnam fuel prices

Posted by VBN on Sep 13 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry