Import Olive oil into Vietnam
With practical experience in handling importing Olive oil, in this article, Logistics HP Global summarizes the contents related to importing Olive oil into Vietnam: Vietnam’s governmental management policy on importing Olive oil, Import procedures for Olive oil, Taxes on importing Olive oil,……..
HS code of Olive oil
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
Olive oil’s HS code in Chapter: Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes
|1509||Olive oil and its fractions, whether or not refined, but not chemically modified|
|15091010||— In packing of a net weight not exceeding 30kg|
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, Olive oil 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
Import procedure into Vietnam of Olive oil
Governmental management on Olive oil
Olive oil with HS as above is subject to specialized management of the Ministry of Health. When importing Olive oil, the enterprise must self-declare the product assurance food safety requirements.
Customs procedure of import Olive oil into Vietnam
When doing customs clearance, customs procedure of importing Olive oil into Vietnam is the same as other common commodities and must submit additional quarantine results.
Label for import Olive oil
According to current stipulation, cargo imported into Vietnam need to have sufficient label.
Cost and time for importing Olive oil
Cost for importing cargo related to transportation and customs clearance are mainly contributed by two main factors: Tax and shipping costs
Taxes on importing Olive oil
When importing Olive oil, the importer needs to pay import duties and value added tax (VAT).
VAT on Olive oil is 5%.
Preferential import tax rate on Olive oil is 10%.
Shipping cost and import time
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 full estimates for the entire shipment, please contact our customer service department by email info@ hpgloballtd.com or hotline ++84 8 8611 5726.
Hp Global Company Limited
Freight forwarder and Customs Brokerage
Room 2308, CT2 Van Khe, La Khe, Ha Dong, Hanoi
Phone: 024 73008608 / Hotline: ++84 8 8611 5726
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