Lo Thi Nhu, Director of the Import-Export Duty Department under the General Department of Vietnam Customs, said Circular 126/2014/TT-BTC has helped saved time and resources of businesses and State managerial agencies.

The Ministry of Finance’s circular, taking effect on October 1, 2014, stipulates procedures for declaration, collection, and payment of taxes as well as overdue interest, fines, and other charges on exports and imports. It focuses on the e-payment of export-import duties with a view to minimize payment processes.

At a meeting reviewing the circular on June 19, participants heard that it only takes five to seven minutes for customs clearance using e-payment systems instead of the prior 30-minute wait time.

It only takes five seconds for goods to be cleared after customs agencies’ e-payment gateways receive a notification that the banks have transferred the tax funds.
Enterprises can also pay duties at various locations, during or outside working times and on days off.

The meeting in Ho Chi Minh City was held by the General Department of Vietnam Customs and the Governance for Inclusive Growth Programme of the US Agency for International Development, which looks to promote customs modernization and trade in Vietnam.