IMPORT PROCEDURES FOR HINGES PERFORMED BY IPOLOGISTICS

IMPORT PROCEDURES FOR HINGES PERFORMED  is not merely about transferring goods from abroad; it also requires compliance with specific legal regulations and customs procedures. IPO Logistics specializes in providing hinge import services with a professional, transparent, and efficient process. This article delves into the hinge import process, related taxes and fees, legal regulations, and the HS codes for this product.

1. HS Codes for Hinges

The HS Code (Harmonized System of Description and Coding of Goods) is crucial when importing hinges, as it helps determine tax rates and documentation requirements. Below are common HS codes for hinges:

• HS Code 83021000: Hinges made of iron or steel.
• HS Code 83022000: Hinges made of other metals.

Accurately determining the HS code helps avoid tax risks and ensures smooth customs clearance.

2. Taxes When Importing Hinges

When importing hinges, businesses need to be aware of the following taxes and fees:

• Import Tax: The tax rate depends on the HS code of the product and its country of origin. For hinges originating from countries with free trade agreements (FTAs) with Vietnam, the import tax may be significantly reduced.
• Value Added Tax (VAT): The VAT for imported hinges is typically 10%, calculated on the total value of goods after adding the import tax.
• Safeguard Duty (if applicable): If hinges are imported from countries subject to safeguard duties in Vietnam, businesses will incur this additional tax.

Example of Calculating Import Tax for Hinges

Assume a company imports iron hinges (HS code 83021000) from a country without an FTA with Vietnam, with an import tax rate of 10% and a total value of goods of 100 million VND. The company will calculate the following taxes:

• Import Tax = 100 million VND x 10% = 10 million VND.
• VAT = (100 million VND + 10 million VND) x 10% = 11 million VND.
• Total Tax Payable = 10 million VND (import tax) + 11 million VND (VAT) = 21 million VND.

3. Import Process for Hinges

To import hinges, IPO Logistics will carry out the following basic steps:

3.1. Preparing Import Documentation

Documents required for importing hinges include:

• Sales Contract: Between the importing company and the supplier.
• Commercial Invoice: Confirming the value of the goods.
• Packing List: Detailing quantity and packing specifications.
• Bill of Lading: Document confirming the transportation of goods.
• Certificate of Origin (C/O): Determines the origin of the goods and applies any tax benefits (if applicable).
• Customs Declaration: Declared through the electronic customs system VNACCS.

3.2. Quality Inspection of Goods (if necessary)

Although hinges are not mandatory for quality inspection according to state regulations, in some cases, importers may need to conduct inspections to ensure products meet Vietnam’s standards.

3.3. Customs Declaration

IPO Logistics will declare customs for the hinge shipment through the electronic system. Specific steps include:

• Logging into VNACCS/VCIS: IPO Logistics uses a business account to declare shipment information.
• Entering Customs Declaration Information: Including product details, HS code, goods value, tax rates, and related documents.
• Awaiting Response from Customs Authorities: After completing the declaration, the system will categorize it (green, yellow, red) to determine the level of inspection.

Customs Clearance Categories:

• Green Channel: The shipment is cleared without physical inspection.
• Yellow Channel: Document inspection; if there are no issues, it will be cleared.
• Red Channel: Physical inspection of goods. IPO Logistics will coordinate to conduct inspections at the port or warehouse.

3.4. Paying Import Tax

After completing customs declaration, the importing company must finalize the payment of import tax and VAT. Once the payment is complete, the customs system will issue a clearance permit for the shipment.

3.5. Receiving Goods and Transporting to Warehouse

After customs clearance, IPO Logistics will pick up the goods at the port and transport them to the warehouse as requested by the customer. The company ensures that goods are delivered to the right place and on time, optimizing costs.

4. Legal Regulations Related to Importing Hinges

Importing hinges must comply with the following legal regulations:

4.1. Legal Documents

• Customs Law 2014: Specifies customs procedures, inspections, and monitoring for imported and exported goods.
• Decree 69/2018/ND-CP: Provides details on some provisions of the Foreign Trade Management Law regarding the import of goods.
• Circular 38/2015/TT-BTC and 39/2018/TT-BTC: Guidelines on customs procedures, inspections, tax duties for imported and exported goods.

4.2. Permits and Certifications

Currently, hinges are not on the list of goods prohibited or restricted for import. Therefore, businesses do not need to apply for special import licenses for this product.

4.3. Regulations on Origin Certification

If hinges are imported from countries with trade agreements with Vietnam, such as ASEAN, South Korea, China, or the EU, businesses need to provide a Certificate of Origin (C/O) to benefit from preferential tax rates.

5. Important Considerations When Importing Hinges

5.1. Quality Inspection of Goods

Although hinges are not on the mandatory quality inspection list, to maintain credibility and product quality for domestic consumption, businesses should implement quality checks at the source.

5.2. Accurately Determine HS Code

Incorrectly identifying the HS code can lead to applying incorrect tax rates and encountering difficulties during clearance. Therefore, businesses need to accurately determine the HS code from the outset.

5.3. Choose a Reliable Transportation and Customs Clearance Service

Selecting the right transportation and customs clearance service, like IPO Logistics, will help businesses save time and costs. IPO Logistics has experience in handling arising issues and ensuring that imported goods are cleared quickly.

6. Conclusion

Importing hinges requires businesses to comply with legal regulations, customs declarations, and tax payments. IPO Logistics, with experience and expertise in this field, is committed to providing professional hinge import services, optimizing costs and time.