In order to ensure that scrap importers take responsibility for handling environmental risks and pollution which may arise from the imported scrap lots, in the Decree No. 38/2015/ND-CP dated April 24, 2015 on the management of wastes and scraps, the Government requires scrap importers to pay deposits at Vietnam Environmental Protection Fund or a commercial bank at which they open main transaction accounts.

For the importers of iron and steel scraps shall pay a deposit amount accounting for 10% of the total value of the imported scrap lot if the imported volume is under 500 tons; 15% of the total value of the imported scrap lot if the imported volume is between 500 tons and under 1,000 tons and for 20% of the total value of the imported scrap lot if the imported volume is 1,000 tons or more. Similarly, importers of paper and plastic scraps shall pay a deposit amount accounting for 15% of the total value of the imported scrap lot if the imported volume is under 100 tons; for 18% of the total value of the imported scrap lot if the imported volume is between 100 tons and under 500 tons and for 20% of the total value of the imported scrap lot if the imported volume is 500 tons or more.

Import of steel scraps must deposit from 10% - 20%
Scrap importers shall pay a deposit at least 15 working days before carrying out the import customs procedures. Vietnam Environmental Protection Fund or commercial banks having received deposits shall refund the deposit amounts to scrap importers within 5 (five) working days after receiving the latter’s written requests enclosed with customs declarations appended with the customs clearance seal or certified copies of customs declarations appended with the mark that scraps have been re-exported. If the imported scraps are not cleared from customs procedures or cannot be re-exported, the deposit amount shall be used for payment of expenses for handling scraps in violation. If the deposit amount is not enough for paying all expenses for handling scraps in violation, the scrap importer shall pay these expenses.

This Decree takes effect on June 15, 2015.

 

Source: LuatVietnam