What is submission period for final accounts for goods sold in duty-free shops in Vietnam? What are responsibilities of duty-free business in final accounts for goods in Vietnam?
Hello, my shop deals in duty-free goods, the fiscal year is over, we have to submit the final accounts for goods, I don't know what is submission period for final accounts for goods sold in duty-free shops so as to prepare in time? Please advise.
Pursuant to Clause 1, Article 24 of Decree 100/2020/ND-CP stipulating final accounts for goods sold in duty-free shops as follows:
1. Submission period for final accounts for goods sold in duty-free shops:
a) On an annual basis, within 90 days from the fiscal year-end, the duty-free business shall submit the final accounts for its duty-free sale in the fiscal year to the customs authority;
b) After submitting final accounts, the duty-free business may make change to the final accounts before the submission deadline and before the time the customs authority announces whether the final accounts are subject to inspection.
Thus, every year, your duty-free shop must submit a final accounts for its duty-free sale in the fiscal year within 90 days from the fiscal year-end to the customs authority in Vietnam.
According to Clause 3, Article 24 of Decree 100/2020/ND-CP, there are provisions as follows:
3. The duty-free business shall:
a) Submit final accounts for goods sold in the duty-free shop, which shall be formulated based on the input - output - inventory principle and using Form No.07/BCQT in Appendix II enclosed therewith, to the customs authority via the electronic data processing system. The final accounts must be consistent with accounting vouchers of the business;
b) Provide customs dossiers, accounting vouchers, account books, sales documents and other documents (if any) for inspection of the final accounts at the request of the customs authority according to regulations.
According to this article, duty-free businesses are responsible for submitting final accounts for goods in Vietnam specified above.
Best Regards!