Japanese firm gets customs priority status
Japanese firm gets customs priority status
The General Department of Customs (GDC) has recognised Japanese printer manufacturer Fuji Xerox Hai Phong Co Ltd in the northern port city of Hai Phong, as a priority enterprise.
This status gives the company access to special customs incentives, which will enable the firm to conduct fewer procedures, get tax refunds first while checking is performed later, have goods cleared quickly and establish a single goods declaration system for multiple exports and imports.
Under Circular 72/2015/TT-BTC, regulating the application of a priority policy for customs procedures, customs inspection and the supervision of exported and imported goods by enterprises, businesses need to have more than US$100 million worth of export and import turnover per year to be considered a priority enterprise.
The conditional annual export revenue of an agricultural and fisheries company is $30 million.
Meanwhile, companies that manufacture goods for export in Viet Nam can be considered for this status if they earn $40 million in revenue per year.
According to the GDC, priority enterprise status applied for Fuji Xerox would last for three years. If this term expires but the company still meets the required conditions, the term can be extended.
Fuji Xerox Hai Phong was established in VSIP Hai Phong Industrial Zone in Thuy Nguyen District in 2012 with a capital of $36 million, making it one of the largest foreign direct investment companies in the city.
The company specialises in the manufacture and export of laser printers, digital electronic copiers, laser scanners, and related components. The number of employees at the company as of August 2016 was 2,200.
Eight enterprises currently enjoy priority status for customs in Hai Phong.
According to the post-clearance audit unit under the GDC, some 63 companies in Viet Nam are presently making use of this policy.
