New regulations on limestone exports in Vietnam

Standard Club has reported that recent updated regulations on limestone exports in Vietnam had resulted in the detention of many limestone shipments after loading. Numerous vessels on which cargoes of limestone had been loaded had been detained by the Vietnamese authorities and had been unable to obtain port clearance.

The General Department of Vietnam Customs issued a letter on December 22nd 2020 providing guidelines on the classification of limestone in accordance with some set national standards. The Department instructed all relevant Customs Departments to control and review strictly all limestone shipments in order to ensure that the appropriate tax rate had been applied.

The implementation of this command meant that shipments of limestone with a percentage of CaC03≥85% required

  • a 2pp increase in the applicable tax rate (i.e. from 15% to 17%) and
  • 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 had been and in some cases remained detained.

Standard Club advised members to be cautious when exporting limestone from Vietnam and to liaise with the port agents and correspondents as necessary.

The Club thanked ANHISA for this update.

https://www.standard-club.com/risk-management/knowledge-centre/news-and-commentary/2021/02/news-new-regulations-on-limestone-exports-in-vietnam.aspx