Import Procedure of Lubricating oil used for industrial machinery to Vietnam

Import Lubricating oil used for industrial machinery to Vietnam

With practical experience in handling importing Lubricating oil used for industrial machinery, in this article, Logistics HP Global summarizes the contents related to importing Lubricating oil used for industrial machinery into Vietnam: Vietnam’s governmental management policy on importing Lubricating oil used for industrial machinery; Import procedures for Lubricating oil used for industrial machinery; Taxes on importing Lubricating oil used for industrial machinery;… …

HS code of Lubricating oil used for industrial machinery 

In order to properly determine policies, procedures of the  import, one of the first thing needed to determine is the HS code of the commodity

Lubricating oil used for industrial machinery’s HS code Chapter 27: Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes

HS Code	Description
27101943	Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations; waste oils.
27101943	– – – – Other lubricating oils

The classification of a product to a certain HS code is based on the nature, composition, …. of the actual imported commodity at the import time, based on catalogue, technical documents (if any) or /and decided by the Customs Department of Commodity Verification. The actual inspection results of the Customs and announcement by the Customs Department of Commodity Verification are legal basis for applying HS code to imported good. Importers are ultimately responsible for ensuring that the products are correctly classified.

Our above advised HS codes are for reference only.

For more information about this content, please refer to the article Definition of HS code in Vietnam

Ban on import, export 

According to the current regulation, Lubricating oil used for industrial machinery is not in the List of prohibited imports into Vietnam, so the enterprise can do the import procedure pursuant to current stipulations.

For more information, read the article List of prohibited imports into Vietnam

Policy on importing Lubricating oil used for industrial machinery 

Governmental management on Lubricating oil used for industrial machinery 

There isn’t no any special governmental management policy on importing Lubricating oil used for industrial machinery

 

Customs procedure of import Lubricating oil used for industrial machinery into Vietnam

With no special governmental management policy, customs procedure of importing Lubricating oil used for industrial machinery into Vietnam is the same as other common commodities.

Label for import Lubricating oil used for industrial machinery

According to current stipulation, cargo imported into Vietnam need to have sufficient label

Duties, Taxes on importing Lubricating oil used for industrial machinery

When importing Lubricating oil used for industrial machinery, the importer needs to pay import duty and value added tax (VAT).

VAT on Lubricating oil used for industrial machinery: 10%

Preferential import tax rate on Lubricating oil used for industrial machinery: 5%

Shipping Cost and time for importing Lubricating oil used for industrial machinery

Shipping costs and transportation time are closely related. Depending on the nature of the commodity and requirement of the shipment, international transportation mode can be by sea, air, road, rail and express delivery. The enterprise should consider to make the most appropriate decision.

For more detailed advice on import procedures, shipping methods and estimate for the full shipping cost, please contact us – Service Provider for importing Lubricating oil used for industrial machinery

Hp Global Company Limited

Freight forwarder and Customs Brokerage

Room 2308, CT2 Van Khe, La Khe, Ha Dong, Hanoi

Website: hpgloballtd.com/hptoancau.com

Email: info@hpgloballtd.com

Phone: 024 73008608 / Hotline: ++84 8 8611 5726

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