Laws of Vietnam

THE MINISTER OF FINANCE

DECIDES:

Article 1.- To announce the reward levels based on export turnover for 4 goods items of rice, coffee, pork, canned vegetables and fruits in 2001 as follows:

The above reward levels shall be applicable to turnover amounts (calculated according to FOB prices at the Vietnamese ports or upon equivalent goods delivery modes) generated from the goods volume exported in 2001. All export turnovers generated in other foreign currencies shall be converted into US dollar (USD) at the exchange rates on the inter-bank foreign currency market at the time of payment.

The reward source shall be the Export Support Fund.

Article 2.- Subjects eligible for export turnover-based rewards in 2001 as mentioned in Article 1 include: enterprises of all economic sectors operating under the Law on State Enterprises, the Law on Enterprises, the Law on Cooperatives and the Law on Foreign Investment in Vietnam and exporting such farm produce as rice, coffee, pork, canned vegetables and fruits (including cases where enterprises undertake entrusted export).

Article 3.- The export turnover-based rewards shall be apply to the following cases:

- Goods exported to repay debts;

- Goods exported under the Government’s agreements (except for contracts enjoying supports under the Prime Minister’s instructions);

- Goods exported as aids to foreign countries;

- Goods exported in form of goods bartering export (except for cases certified by the Ministry of Trade), re-exported goods.

Article 4.- Dossiers and procedures for considering and giving export turnover-based rewards include:

- The enterprise’s written request for reward consideration enclosed with the list of export goods volumes and turnover in the period, made according to the set form (with certification of actually generated foreign currency amounts by commercial bank where the enterprise has its account for foreign currencies generated from exports);

- Copies of the export dossier set, including: Customs declaration, sale invoice(s), export contract, credit notice of the concerned commercial bank (with the enterprise’s certification and seal);

- Copies of cost vouchers: Freights, insurance... for export goods (for cases where the enterprise does not export goods at FOB price) with the enterprise’s certification and seal;

- The Trade Ministry’s certification (for a number of cases of goods bartering export).

Enterprises eligible for export turnover-based rewards shall send their dossiers to the Finance Ministry (the Enterprise Finance Department). Within 10 days (after receiving complete dossiers), the Finance Ministry shall evaluate such dossiers and base itself on the reward levels already announced for each goods item to determine the reward amount for each enterprise and decide to deduct the Export Support Fund to reward enterprises.

Enterprises shall be held responsible before law for the legality and accuracy of dossiers related to the export turnover-based rewards. Commercial banks shall be responsible for the accuracy of the certification of foreign currency amounts actually generated from export activities of the enterprises. The Trade Ministry shall have to inspect and certify the accurate goods volume and export turnover for cases of goods bartering export.

Article 5.- The time limits for considering and giving export turnover-based rewards for 4 goods items of rice, coffee, pork, canned vegetables and fruits in 2001 shall be as follows:

- For export turnover generated from goods volume exported in the first six months of 2001, the consideration and giving of rewards shall be effected as from July 1, 2001;

- For export turnover generated from goods volume exported in the last six months of 2001, the consideration and giving of rewards shall be effected at the end of each quarter.

Article 6.- Enterprises shall use export turnover-based rewards to make up for business costs of goods items eligible for export turnover-based rewards but shall not be allowed to use them in deducting reward fund or welfare fund.

Article 7.- This Decision takes effect as from January 1, 2001 and applies to export turnover generated from goods volume exported in 2001.

The director of the Enterprise Finance Department, the director of the State Budget Department and the heads of the concerned units and exporting enterprises shall have to implement this Decision.

For the Minister of Finance
Vice Minister
TRAN VAN TA