Editor’s Note
This article outlines key changes to Vietnam’s customs procedures under Circular No. 121/2025/TT-BTC, effective February 1, 2026. Businesses involved in import-export activities should review the updated requirements to ensure compliance.
On December 18, 2025, the Ministry of Finance issued Circular No. 121/2025/TT-BTC (“Circular 121”), amending and supplementing provisions of existing customs regulations under Circular No. 38/2015/TT-BTC and Circular No. 39/2018/TT-BTC, which govern customs procedures, inspection, supervision, and tax administration for imported and exported goods.
Effective February 1, 2026, Circular 121 updates customs procedures to align with recently enacted laws and decrees. These changes are expected to affect customs documentation practices, internal controls, and compliance obligations, particularly for processing, manufacturing, and export-oriented enterprises.
In addition to the traditional in-person process, enterprises with high customs compliance scores can now utilize the Customs’ electronic systems for indirect customs value consultations. This new method reduces reliance on in-person procedures for customs value consultations.
Circular 121 introduces detailed procedures for the destruction of materials, semi-finished and finished goods, machinery and equipment, scrap, and waste. Responsibilities of both enterprises and Customs officials are prescribed in detail:
Enterprises are required to notify customs in advance via the electronic system, ensure destruction is carried out by licensed environmental service providers, and retain supporting documentation for inspection, while post-destruction reporting applies where direct customs supervision is not required.
Customs authorities will determine supervision requirements based on risk management principles, conduct direct supervision where necessary, and update supervision results on the customs system within prescribed timelines.
Notably, risk-based supervision of destruction now applies solely to scrap materials from production. It no longer covers defective products.
Circular 121 narrows the circumstances in which export processing enterprises (EPEs) may opt in or out of customs procedures, notably requiring customs declarations for goods bought, sold, leased, or lent between EPEs.
In addition, enterprises engaged in contract or toll manufacturing, including EPEs, are required to establish separate material and consumption norms for re-imported goods that are repaired or recycled in specified cases.
The circular also clarifies customs treatment for transactions between EPEs and domestic enterprises, which, under Law No. 90/2025/QH15 and Decree No. 167/2025/ND-CP, are no longer classified as in-country export-import transactions.
In addition to customs reforms, the government’s new policy package introduces expanded administrative penalties and enforcement measures across key sectors, further raising compliance expectations for businesses.
Decree No. 373/2025/ND-CP, taking effect February 14, 2026, amends provisions of the Law on Tax Administration to offer greater flexibility for taxpayers, including allowing quarterly personal income tax filing in certain cases and reducing penalties for late filings caused by changes to tax declaration periods.
Decree No. 348/2025/ND-CP, effective February 15, 2026, imposes administrative fines of up to VND40 million for travel companies that host foreign tourists who abscond and remain illegally in Vietnam or for facilitating illegal entry and exit actions that fall short of criminal offenses.
Effective February 9, 2026, Decree No. 340/2025/ND-CP specifies penalties for violations in gold trading, foreign currency trading, capital contribution and share acquisition, and deposit-taking.
| Violation | Sanction |
| :— | :— |
| Repeated buying/selling gold bars with unlicensed credit institutions or enterprises; use of gold as payment | VND 10–20 million (approx. US$400–800) |
| Failure to route gold transactions through required payment accounts | VND 10–20 million (approx. US$400–800) |
| Failure to publicly display gold bar or jewelry prices | VND 30–50 million (approx. US$1,200–2,000) |
| Producing jewelry without declared standards or proper labeling | VND 30–50 million (approx. US$1,200–2,000) |
| Producing gold bars without disclosing standards, weight, purity, or labels | VND 30–50 million (approx. US$1,200–2,000) |