Olive oil is an oil that brings a lot of value to users and is very popular in Vietnam. Therefore, the demand for this product is increasing day by day. So how is the olive oil import policy regulated? Join us to learn more about Procedures for importing olive oil in the post below!
What is olive oil?
This is an oil made from fresh olives, a typical fruit from the Mediterranean. Olive oil contains a lot of vitamins good for health and beauty (Vitamins A, E, K, D ...). Some of the functions of this oil can be followed by helping to lower cholesterol, preventing and treating Alzheimer's disease, containing fat to make you smarter, helping to treat acute pancreatitis, good for skin and eyes ...
Olive oil is widely used in food processing, medicine and cosmetics, soap making, and fuel for traditional lamps. This oil is not produced in Vietnam, so most of it is imported from abroad.
Policies and regulations on procedures for importing olive oil
Before learning about the procedures for importing olive oil, businesses need to understand the policies if they want to import olive oil as follows:
– Olive oil is not on the list of goods banned from import, so businesses can carry out procedures to import olive oil for business like other commodities.
– According to Decree Decree 15/2018/ND-CP, olive oil is a vegetable cooking oil that requires:
- Implement product self-declaration
- Register for food safety inspection.
What is the HS code for olive oil?
Olive oil is a HS code of Chapter 15: Fats and oils of animal or vegetable origin and products thereof; processed edible fats; animal or vegetable waxes.
It is specified here that olive oil has HS code of 1509 (Olive oil and its fractions, whether or not refined, but not chemically modified). In there:
HS Code 1509.10: Virgin oil (virgin):
– HS Code 1509.10.10: Packed with a net weight not exceeding 30kg
– HS Code 1509.10.90: Other
In HS Code 1509.90 include:
Fractions of unrefined oils:
HS Code 1509.90.11: Packed with a net weight not exceeding 30kg
HS Code 1509.90.19: Other
+ Other types:
HS Code 1509.90.91: Packed with a net weight not exceeding 30kg
HS Code 1509.90.99: Other.
Import tax on olive oil
When importing olive oil from abroad to Vietnam, businesses will have to pay 2 fixed taxes. These are import tax on goods and value added tax (VAT). According to the law:
– Value added tax on olive oil is 10%.
– Preferential import tax rate of olive oil according to current regulations is 5 – 20% (depending on each specific HS code).
If importing olive oil from countries that have free trade agreements with Vietnam. Then businesses can enjoy tax incentives. But provided that the enterprise meets the requirements of the Agreement. Therefore, businesses should note this so as not to miss the incentives they are allowed to receive when importing goods.
Documents required when carrying out procedures for importing olive oil
As mentioned above, the import clearance process for olive oil products, enterprises need to have the following documents:
Announcement of conformity of imported olive oil
When importing olive oil, businesses will have to make their own declaration of product quality according to the form specified in Decree 15/2018/ND-CP. Self-publishing activities will be carried out on mass media or websites. Accordingly, the dossier for announcing the quality of olive oil will include the following documents:
– Self-publishing copy (registered publication) according to the form of Decree 15/2018/ND-CP
– Certificate of eligibility for production (if it is a domestic enterprise)
- Business license
– The test results of the product are valid for 12 months
– Certificate of Free Sale – Certificate of Free Sale (original or copy)
– Product label or photo of product label and draft of additional labeling content (with the trader's stamp).
Register for inspection of food hygiene and safety (food hygiene and safety)
After carrying out the procedures for announcing imported products, enterprises continue to register for food safety inspection. This duty is complied with Decree 15/2018/ND-CP for imported olive oil. Documents to be prepared for registration of food hygiene and safety include:
– Certificate of registration for inspection of imported food according to the form
– Product self-declaration
– Test result sheet
– Packing List
Customs procedures for importing olive oil
Any goods imported to Vietnam must carry out the procedures for importing goods in accordance with regulations. And of course, olive oil is no exception. Accordingly, businesses need to prepare a set of documents including the following documents:
- Declaration of imported goods
- Commercial invoice
– Bill of lading or other transport documents
– Import license
– Declaration of value
- Certificate of origin of goods (if any)
– Results of food hygiene and safety inspection
Note: This set of customs documents can be scanned electronically on the 1-door portal or submitted to the customs department where the goods arrive.
Labels for imported olive oil products
Imported goods must be labeled with imported goods in accordance with current regulations. For olive oil products, businesses must also ensure full content on the label such as:
- Goods name;
– Name and address of the organization or individual responsible for the goods;
- Origin of goods;
- Other contents according to the nature of each type of goods.
- Detailed procedures for importing corn kernels
- Instructions on procedures for importing vacuum cleaners
Everlog's prestigious package of import procedures service
For businesses that are not specialized in importing, importing goods by themselves will take a lot of time, effort and very expensive costs. In addition, the unit may lack many types of documents when carrying out procedures because they are not familiar with these tasks. That makes the clearance of shipments take a long time, leading to slow business progress. Therefore, finding yourself a professional logistics unit to help you solve the above tasks is extremely necessary.
Currently, Everest Logistics is a reputable and top quality import and export service provider in Ho Chi Minh City. With more than 10 years of experience in the field of import and export, Everlog always gives you the best services when choosing to accompany us.
What businesses get when choosing to translate Everlog
– Consult for businesses the most necessary procedures
– On behalf of the business to carry out the import of goods professionally
- Clear shipping schedule, regularly monitored to ensure on schedule
- Fast and flexible shipping time.
- The quality of goods is always guaranteed to be safe, keeping the original quality. No or very little damage, deformation during transportation.
- Solve well the needs arising in the process of transporting goods.
– A team of enthusiastic, dedicated consultants, knowledgeable about circulars, decrees and policies related to import and export.
- Reasonable service charges, reputation assurance, cost savings with the best quality.
Come confidently to Everlog to own the service Procedures for importing olive oil and any of your import/export activities! We look forward to cooperating with you in the near future!