The Government has just issued Decree No. 122/2024/ND-CP amending and supplementing several articles of Decree No. 14/2018/ND-CP dated January 23, 2018, of the Government detailing cross border trade.
Recently, the Government issued Decree No. 122/2024/ND-CP amending and supplementing several articles of Decree No. 14/2018/ND-CP dated January 23, 2018
The Government provides detailed regulations on cross border trade
Decree No. 122/2024/ND-CP takes effect from December 1, 2024.
Cash payment only applies to the purchase and sale of goods by border residents
Decree No. 122/2024/ND-CP amends and supplements Clause 2, Article 4 of Decree No. 14/2018/ND-CP regulating payment methods in cross border trade.
Decree No. 122/2024/ND-CP still stipulates three payment methods: payment via bank, clearing between exported goods and services and imported goods and services (the difference paid via bank), and payment in cash. However, according to the new regulations, the cash payment method is only applied to the purchase and sale of goods by border residents.
Supplementing regulations on commodity standards in cross border trade
At the same time, Decree No. 122/2024/ND-CP supplements Article 4a regulating the standards of goods in cross border trade.
Accordingly, goods traded and exchanged between traders and border residents must fully meet the standards, quality, regulations on traceability, and other conditions set by the laws of the importing country.
Amending conditions for entities conducting trading activities at border markets
Decree No. 122/2024/ND-CP also amends and supplements Clause 1 and Clause 2, Article 16 of Decree 14/2018/ND-CP regulating the subjects of trading and exchanging goods at border markets as follows:
Traders and citizens of Vietnamese nationality who have registered their residence in border areas.
Traders and citizens of countries sharing a border, with passports or documents that can replace passports and visas, except for cases of visa exemption, still valid according to international treaties to which the Socialist Republic of Vietnam is a member and the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam No. 47/2014/QH13, which has been amended and supplemented by several articles under Law No. 51/2019/QH14 and Law No. 23/2023/QH15; Traders, business households and individuals with business registration in a country sharing a border have been granted a Business Registration Certificate by the laws of the country sharing a border.
Amendments to regulations on entry and exit of people and vehicles of Vietnam
In addition, Decree No. 122/2024/ND-CP also amends and supplements Clause 1 and Clause 3 of Article 21 of Decree No. 14/2018/ND-CP regulating the entry and exit of people and vehicles of Vietnam.
Specifically, the owner of goods or the person authorized by the owner of goods, the owner of the vehicle, the driver of the means of transporting goods, the service staff on the car, ship, boat who are Vietnamese citizens shall comply with the provisions of the international treaties to which the Socialist Republic of Vietnam is a member and the Law on Exit and Entry of Vietnamese Citizens No. 49/2019/QH14 which has been amended and supplemented by several articles under Law No. 23/2023/QH15.
In addition to the above-mentioned documents, the vehicle driver must also have a vehicle driver’s license appropriate to the type of vehicle being driven.”
Vehicles, drivers of goods transport vehicles, and business entities of Vietnam are allowed to pass through the border gates and border openings prescribed in this Decree to enter or exit the border markets of the countries sharing the border and must be subject to inspection and control by specialized management forces at the border gates and border openings.
From January 1, 2029, when buying, selling, and exchanging goods across the border, border residents must be present to carry out import and export procedures
Decree No. 122/2024/ND-CP takes effect from December 1, 2024.
In 2029, the Ministry of Finance shall report to the Government for consideration and decision on adjusting the number of times of tax exemption and the amount of tax exemption for imported goods in the form of buying, selling, and exchanging goods by border residents.
From January 1, 2029, when conducting cross-border trading and exchange of goods, border residents must be present to carry out import and export procedures.
From January 1, 2030, goods can only be processed for import and export at international border gates; main border gates (bilateral border gates); secondary border gates; customs clearance routes, specialized routes for transporting goods at international border gates, main border gates (bilateral border gates); border openings that have completed the procedures for opening and upgrading border gates and border openings according to current legal regulations and have reached bilateral agreements on allowing the export, import and exchange of goods.
Source: Department of E-commerce and Digital Economy
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