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News: New regulations on limestone exports in Vietnam
News & Insights 23 February 2021
We have been advised that recent updated regulations on limestone exports in Vietnam have resulted in the detention of many limestone shipments after loading.
We have been advised that recent updated regulations on limestone exports in Vietnam have resulted in the detention of many limestone shipments after loading. Numerous vessels on which cargoes of limestone have been loaded have already been detained by the Vietnamese authorities and have been unable to obtain port clearance and therefore to sail out of Vietnamese water for now more than 60 days.
The General Department of Vietnam Customs issued a letter on 22 December 2020 providing, among other things, some guidelines on the classification of limestone in accordance with some set national standards and instructed all relevant Customs Departments to strictly control and review all limestone shipments to ensure that the appropriate tax rate had been applied. The implementation of this letter meant that shipments of limestone with a percentage of CaC03≥85% required (i) a 2% increase in the applicable tax rate (i.e. from 15% to 17%) and (ii) the exporter to obtain a permission from the Ministry of Natural Resources and Environment. The failure to obtain such permission by some exporters meant that their limestone shipments have been or remain detained.
Members are advised to be cautious when exporting limestone from Vietnam and to liaise with the port agents and correspondents as necessary.
We thank ANHISA for this update.