1. Billiards table import policy
When importing any item, the most important thing is to learn about the import policy of that item. Procedures for importing pool tables are specified in the following legal documents:
According to the above documents, the billiard table is not on the list of goods banned from import. However, when carrying out procedures for importing this item, it is necessary to pay attention to the following points:
-
Used billiard tables on the list of goods banned from import;
-
When importing pool tables, goods must be labeled according to 43/2017/ND-CP;
-
Determine the correct HS code to determine the correct tax and avoid being fined;
Above are all legal documents regulating policies and procedures for importing pool tables. If you do not understand the above regulations, please contact the hotline or hotmail for advice.
2. Determine the HS code of the pool table
Searching for the hs code is the most important task before carrying out procedures for importing a billiard table.
2.1 Code hs table a
HS (Harmonized System) code is a series of codes that are common to all goods around the world. Between different countries in the world, there is only a difference in the number of tails. Therefore, the first 6 digits of the worldwide hs code for an item are the same. Here, Just In Time would like to introduce to you the code hs of the pool table according to the table below
|
HS Code |
Description |
|
95042020 |
Code hs billiard table of all kinds |
|
95042030 |
Code hs chalk rubbing the head of the billiard club |
|
95042090 |
Other |
According to the import and export tariff schedule, the HS code of the pool table is 95042020. The import tax rate of pool tables is 25% and VAT is 8%.
2.2 Risks of applying the wrong hs code
Determining the correct HS code is very important when carrying out procedures for importing pool tables. Identifying the wrong hs code will bring certain risks to you such as:
-
Delay in customs procedures: Incorrect declaration of HS codes can lead to delays in customs procedures, as it takes time to check and verify accurate information about the type of goods;
-
Delayed delivery: If the goods are found to have declared the wrong HS code, the customs authority may request correction or clarification of information. This can lead to delays in the delivery process and affect the production and business cycle of the business;
-
Shall be fined for incorrectly declaring hs codes according to Decree 128/2020/ND-CP;
-
In case of incurring import tax, they will face a fine of at least 2,000,000 VND and a maximum fine of 3 times the tax amount;
To accurately identify the hs code for each specific pool table. Please contact the hotline or hotmail for advice.
3. Calculation of import tax on pool table
Import tax is an obligation that the importer must fulfill when carrying out procedures for importing a billiard table. Tax obligations are mandatory and goods are only cleared when the tax obligation has been fulfilled.
There are two types of import taxes, namely VAT and import tax. The import tax depends on the hs code of the selected goods. The import tax calculation method of billiard table items is as follows:
Import tax determined according to the import tax hs code is calculated according to the formula:
Import tax = CIF value x % tax rate
Import VAT is determined according to the formula:
Value Added Tax = (CIF Value + Import Tax) x % VAT rate.
According to the above formula, it can be seen that the import tax of the pool table belongs to the imposed tax rate. The tax rate depends on whether the order has a certificate of origin or not. If there is a certificate of origin (c/o), a special preferential tax rate may be applied.
4. Labeling goods for imported pool tables
Labeling imported goods is not a new regulation. However, since Decree 128/2020/ND-CP was issued, the labeling of imported goods has been monitored more closely. Labeling of goods aims to help administrative agencies manage goods, determine the origin and unit responsible for goods. Therefore, labeling on goods is one of the indispensable stages when carrying out procedures for importing billiard tables.
4.1 Label content
In addition to having to put a label, the label content is also very important. The content of labels of goods items is specified in Decree No. 43/2017/ND-CP. For billiard table items, the contents of a full label include the following information:
-
Information of the exporter's family (address, company name);
-
Information of the importer (address, company name);
-
Name of goods and information of goods;
-
Origin of goods;
Those are the basic label contents that need to be affixed to the goods. The information presented must be in English or other languages that must be translated. When carrying out procedures for importing a billiard table, if you encounter a red channel, customs inspection will pay great attention to the content of the label above.
4.2 Labeling Placement on Goods
Labeling the goods is necessary, but it is more important to put them in the right place. When importing, goods labels need to be pasted on the surfaces of the package such as: On cartons, on wooden bales, on product packaging. Or any place as long as it is convenient to check and easy to see. Labeling in the right position will help save time for inspection when carrying out procedures for importing billiard tables of all kinds.
For retail goods on the market, it is necessary to show more information. Such as manufacturer, quantity of goods, specifications, date of manufacture, safety warnings.
4.3 Risks encountered when not labeling
Labeling goods is caught in accordance with the law. If the goods are not labeled when imported or the content of the goods label is wrong. The importer faces the following risks:
-
Being fined according to regulations, the fine level is specified in Article 22 of Decree 128/2020/ND-CP;
-
Not entitled to special preferential import tax because the certificate of origin will be rejected;
-
Goods are easily lost or damaged due to the absence of warning labels for loading, unloading and transportation;
With the above risks, we recommend that you put a label on the goods when checking in for importing a pool table. Please contact the hotline or hotmail for advice.
5. Pool table import dossier set
The set of dossiers for carrying out procedures for importing billiard tables – a in particular, carrying out procedures for importing other items in general. Stipulated in Circular 38/2015/TT-BTC dated 25/3/2015; amended and supplemented 39/2018/TT-BTC dated 20/04/2018.
-
Customs declaration;
-
Sale contract;
-
Commercial invoice;
-
Packing list;
-
Bill of lading;
-
Certificate of origin (c/o) if any;
-
Catalog (if any), and other documents if required by customs;
Above are all the documents used to carry out procedures for importing a pool table. The most important are customs declarations, commercial invoices, bills of lading. Other documents will be supplemented if requested by the customs office.
Preparing documents before importing a pool table is extremely important. For original documents such as bills of lading, certificates of origin, the importer must ask the seller to deliver the courier in advance. Avoid waiting for documents, which can lead to container storage and cargo storage.
If you do not fully understand the documents listed above, you can contact our hotline or hotmail for advice.
6. Procedures for importing a billiard table
The process of importing billiard tables as well as many other items. It is very specifically stipulated in Circular 38/2015/TT-BTC dated 25/3/2015 amending and supplementing 39/2018/TT-BTC dated 20/04/2018. We summarize the steps in a short description so that you can visualize the big picture.
Step 1. Declaration of customs
declaration After having all import and export documents: Contract, commercial invoice, packing list, sea waybill, certificate of origin, notification of arrival of goods and identification of the code hs of the billiards table. Then the declared information can be entered into the customs system via software.
The declaration of customs declarations on customs software. It requires importers to have an understanding of data entry into the software. Customs declarations should not be filed on your own when you are not familiar with the job. Self-declaration can easily be stuck with points that cannot be corrected on the customs declaration. At that time, it will take a lot of money and time to fix.
Within 30 days from the date of arrival of goods at the port, the customs declarant must make a customs declaration. If this time limit is exceeded, the importer must face a fine fee from the customs side.
This is the most important step in the process of importing a pool table. Enterprises that make false declarations will face fines on taxes and origins according to the customs law.
Step 2. Opening the customs declaration After
the customs declaration is completed, the customs system will return the results of the declaration channeling. If there is a flow of declarations, print out the declaration and bring the import dossier to the customs sub-department to open the declaration. Depending on the green, yellow and red channels, the steps to open the declaration are taken.
The opening of the declaration must be carried out as soon as possible, no later than 15 days from the date of declaration of the declaration. The declarant must bring the dossier to the Sub-department of Customs to open the customs declaration. Within more than 15 days, the declaration will be cancelled and you will face a penalty fee from customs.
Note: After having an official declaration, it is necessary to contact the Customs Sub-Department to carry out procedures for importing a billiard table. It is not recommended to leave the declaration for a long time before bringing it down for import procedures.
Step 3. Customs clearance of goods
: After checking the dossier, if there are no questions, the customs officer will accept the customs clearance of the declaration. You can now pay import duties on the customs declaration to clear the goods.
In some cases, the declaration will be released to bring the goods to the warehouse for pre-storage. After completing the dossier, the customs will proceed to customs clearance of the customs declaration. When the declaration has not yet been cleared, it is necessary to carry out procedures for customs clearance. If you are past the deadline, you will face a penalty fee and it will take a lot of time.
Step 4. Bringing goods for preservation and use
of customs clearance declarations, proceed with the liquidation of the declaration and carry out necessary procedures to bring goods to warehouses. In order to be able to bring goods to the warehouse, you need to prepare a delivery order, a pick-up slip at the port, and arrange a pick-up vehicle. Avoid the situation that the declaration has been completed but there is an order from the shipping line to take the goods out of the port.
Above is the process of procedures for importing pool tables. If you do not understand the steps and processes, please contact us via hotline or hotmail for advice.
7. Notes when importing a pool table
When importing billiard tables, the following should be noted:
-
Goods are only cleared after fulfilling their tax obligations to the State;
-
Used billiard tables on the list of goods banned from import;
-
Certificate of origin c/o is a fairly important document, affecting the import tax amount;
-
When importing, goods must be labeled according to 43/2017/ND-CP;
-
Determine the correct HS code to determine the correct tax and avoid being fined;
-
Certificate of origin is very important when carrying out procedures for importing a pool table. Can get a tax reduction at the lowest rate;
If you have difficulties in customs clearance, you can choose Just In Time as a companion.
Just In Time's staff is always enthusiastic to support you to handle your work quickly and professionally.
JUST IN TIME JOINT STOCK COMPANY
Address: No. 5, Dong Da, Ward 4, Tan Binh, Ho Chi Minh City.
Hotline: +84 83 9910066
Email: info@justintimevn.com
Facebook: https://www.facebook.com/justintimevn