Traders will have to deposit VND5 billion (USD240,000) in environmental fee charges to destroy outdated inventories that can't be re-exported or illegal temporary imports.
Second-hand imports will be suspended from September 30
According to newly Government Directive No.23 has been issued on re-export and temporary import activities, traders must have been actively engaged in imports and exports for at least two years before they can re-export or temporary import goods that have special excise taxes such as wine or cigarettes.
To engage in re-export or temporary import trade, firms must also report their delivery plans with details within seven days to customs and licensing agencies before their shipment arrives in Vietnam.
Traders will also be obliged to deposit VND5 billion in environmental fees if the goods have been illegally imported or can't be sold and customs are forced to destroy the goods.
Temporary imports into Vietnam can only remain in the country for up to 45 days with one extension of 15 days allowed. After the deadline, traders have 15 days to transfer their good overseas.
The Prime Minister also asked the Ministry of Industry and Trade to issue a list of suspended commodities such as the second-hand goods and frozen food in September.
Other suspended goods include toxic waste such as batteries, electronic circuits or chemicals.
These lists will be applied from September 30.
