When importing and exporting international goods, CO is one of the important and indispensable documents. What is CO?? What types of CO are included?? What is the CO licensing procedure?? Join Cuong Quoc Logistics to find out details through the shares below.

What is CO??

What is CO?? C/O is also known as Certificate of Origin, is a certificate of origin of goods. An important certification in the import and export process.

When you are the owner of imported goods, CO certificate will help you enjoy import tax incentives. These parts can vary from a few % to a few tens of %.. Therefore, This reduced tax amount can be quite large.

That's why, Shipments with CO are often closely scrutinized when going through customs procedures.

 

When you are an export goods owner, Applying for a CO is only according to the provisions of the contract with the foreign buyer. If only an exporter, CO will not play an important role. Sometimes, many procedures are drawn up during the working process.

In terms of state management, CO plays a role in relation to anti-dumping policy, price subsidy. At the same time, it helps with trade statistics & maintain the quota system. The above concepts and sharing have told us what CO is.

Above is some information about what CO is. Join us to learn about types of CO and how to apply for CO through the sharing below. What is CO?

>>> See more: What is TEU?? How to use TEU in port operations

Types of CO

After learning what CO is, You can distinguish between different types of CO. Depends on each country's regime, CO is divided into many different types. Some types of CO include::

• CO form A: This is the type of certificate that goods exported to countries that allow Vietnam to enjoy GSP universal tariff preferences will use..
• CO form D: Sample certificate of origin for goods to ASEAN countries eligible for preferential treatment under the CEPT agreement.
• Co inim by: This is a type of paper used to certify the origin of goods used for industries exported to China or regions in ASEAN., enjoy preferential tariff preferences under the ASEAN-China agreement.
• CO form S: This is a type of certificate used for goods exported to Laos that are eligible for preferential tariffs under the Vietnam - Laos agreement..
• CO forms AK: For goods exported to Korea, Countries in the ASEAN region enjoy preferential tariffs under the ASEAN-Korea agreement.
• CO form GSTP: This is a type of certificate of origin used mainly for goods exported to Japan. Countries in ASEAN enjoy tax incentives under the ASEAN-Japan agreement.
• CO forms AJ: This is a sample certificate of origin for commonly used goods for goods exported to Japan.. Some countries in ASEAN enjoy preferential treatment under the ASEAN-Japan agreement.

• CO form B: This form is used for exported goods, imported by all countries granted under non-preferential agreements of origin under CO form B.
• CO form IOC: This type of commodity certificate is issued specifically for coffee products grown and harvested in Vietnam, originating in Vietnam and exported to many countries around the world according to world regulations.
• CO form Textile: This type of certificate is issued for textile and garment products exported to EU countries under the Vietnam - EU textile and garment agreement..
• CO form Mexico: This is also a type of certificate of origin issued to the textile and garment industry, footwear for export to Mexico according to regulations.
• CO from Peru: This is a form of certificate of origin for footwear exported to Peru according to Peru's regulations.
• CO forms VK: Certificates are issued for goods originating from Vietnam, exported to Korea. CO form VK is issued under the VKFTA agreement effective from 2015.
• CO form VJEPA: CO form VI is applied to goods originating from Vietnam or Japan.
• CO form AANZ: This CO form is used for exported goods in other countries: Australia, New Zealand.
• CO form AI: Documents are issued for goods originating from Vietnam, exported to India and member countries of the AIFTA multilateral trade agreement.
• CO form VC: CO form VC is used to export goods from Vietnam to the Chilean market.
• CO form VNEAEU: CO form VNEAEU is used for goods originating from Vietnam, exported to Eurasian Economic Union countries.
• CO form AHK: CO form AHK is a certificate issued for goods exported to Hong Kong and ASEAN countries (Vietnam, Laos, Cambodia, Thai, Indonesia, Singapore, Philippines, Malaysia, Brunei).
• CO form VNCU: Document certifying the origin of goods from Vietnam to Cuba.

Where is the CO please??

Currently, in Vietnam, There are only 02 places that can grant the right to apply for a Certificate of Origin.

• Ministry of Industry and Trade
• Import-Export Department

The Ministry of Industry and Trade will authorize a number of agencies, The organization undertakes the work of issuing certificates of origin to businesses. Each agency will be authorized to license certain types of CO:

• VCCI: Issue CO form A,B,…
• Import-Export Management Departments of the Ministry of Industry and Trade: issue CO form D, E, AND,…
• The Management Boards of Export Processing and Industrial Parks are authorized by the Ministry of Industry and Trade: issue CO form D, E, AND,…

Besides, CO issued by manufacturers are pieces of goods certifying that goods belong to the unofficial category. Of course, These COs do not enjoy preferential treatment from countries importing those types of goods.

Look up C/O here: https://ecosys.gov.vn/

Effects of CO

Tax incentives

Determining the origin of goods will help you distinguish between imported goods. These products will enjoy incentives to apply preferential regimes according to trade agreements signed between countries..

Apply anti-dumping tax & price subsidy

When one country's goods are devalued in another country's market, Determining the origin of goods makes anti-dumping actions and imposition of countervailing duties feasible..

Trade statistics & maintain the quota system

When determining the origin of goods, Compiling trade statistics for a country or region will become easier. On that basis, Trade agencies will maintain the quota system. This will promote trade activities between the parties.

Notes when working as CO

When making a certificate of origin of goods CO, Businesses need to note the following points:

Application for issuance of CO

Application for CO issuance includes::

• The CO application form provides complete goods information.
• Completely declared CO form includes:: 1 original & 3 copies. In there: The original and one copy will be sent by the exporting party to the importing party for submission to the customs authority at the port or place of import.. The second copy is kept by the CO issuing organization. The remaining copy is stored by the exporting party. In case the importing country requires it, The party requesting a CO issue can request the CO issuer to provide more than 3 copies.
• The export customs declaration has gone through customs procedures. Copy signed by an authorized person and stamped "true copy".
• Invoice: Important documents are prepared by the seller after both parties sign the sales contract. It determines the value of goods or services that the buyer must pay before or after delivery. Or according to the specific conditions stated on the invoice to the seller.
• Bill of lading
• Documents proving the origin of goods export certificate forms, include: Inspection certificate, List of raw materials used, Summary of production process, Documents for purchasing raw materials, Purchase and sale documents, Customs norms and import country mandates. What is CO?

Procedures for issuing CO

Step 1: Register a merchant profile

If this is the first time applying for a CO, The CO applicant must provide the CO issuing unit with the following certification documents:

• Business license
• Sample certificate of origin for tax code registration
• Register the signature sample of the person authorized to sign the application for issuance of CO, merchant seal
• List of production facilities

Step 2: Reception, check profile

After receiving the application, The CO-issuing units will check the documents. At the same time, notify about the following cases:

• Accept the CO level and the time the trader is issued
• Please request additional documents if missing
• Please check the documents if there are any errors
• From issuing CO in cases of law violation

CO issuance time

• The time limit for issuing CO will not exceed 03 working days. From the time the CO applicant submits a complete and valid application.
• When necessary, The CO issuing organization can inspect the place of production. If you feel that the submitted documents do not have enough grounds to issue a CO or show signs of violating the law. The time for inspection and adjustment in this case will not exceed 05 working days. From the time the CO applicant submits a complete and valid application.
• The verification period must not prevent delivery or payment by the exporter. Unless this effect is the fault of the exporter.

>>> See more: Regulations on transporting oversized and overweight cargo

Conclude

With the above information, Cuong Quoc Logistics hopes readers will have a clearer view of what the concept of CO is, types of CO documents and necessary procedures when issuing certificates of origin of goods.

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Cuong Quoc Freight Forwarding Company Limited

Office: 7th floor, Parami Building, 140 Bach Dang, Tan Son Hoa Ward, Ho Chi Minh City

Hotline: 0972 66 71 66

Email: info@cql.com.vn

Website: https://cql.com.vn/