Report foreign loans in the form of imported goods with deferred payment
Foreign loans in the form of deferred payment for imported goods must be reported according to regulations at Circular 12 / 2022 / TT-NHNN. Below are instructions on reporting foreign loans in the form of deferred payment imports of goods.
What is a loan in the form of deferred payment for imported goods?
Foreign loans in the form of deferred payment for imported goods are a type of self-borrowing, self-repaying loan in which the borrower imports goods, with the first withdrawal date before the final payment date. Withdrawal date determined based on the time from the date of issuance of the transport document (90 days) or from the date of completion of customs inspection (45 days), depending on the requirements of the account service provider bank. Loan Term calculated from the date of first withdrawal to the date of final payment according to the contract or according to actual payment.
Report foreign loans in the form of imported goods with deferred payment
Clause 1, Article 41 of Circular 12/2022/TT-NHNN: “On a monthly basis, no later than the 05th of the month following the reporting period, the borrower must report online on the implementation of short loans, medium and long term at the website"
Thus, Loans in the form of deferred payment for imported goods must be reported in accordance with the provisions of Circular 12/2022/TT-NHNN dated September 30, 9 guiding foreign exchange management for foreign borrowing and debt repayment of enterprises.
Identify loans in the form of imported goods on deferred payment
Legal grounds:
Clause 1, Article 3, Circular 12/2022/TT-NHNN: “Foreign loan is a common phrase to refer to foreign loans that are not guaranteed by the Government (hereinafter referred to as self-borrowed and self-paid loans) and Foreign loans are guaranteed by the Government in all forms of foreign loans through loan contracts and deferred payment import contracts. Self-borrowed and self-paid loans in the form of imported goods with deferred payment are determined according to the provisions of Clause 1, Article 4 of Circular 12/2022/TT-NHNN:
"first. Foreign loans in the form of deferred payment of goods imports are goods imports with the first capital withdrawal date before the final payment date; in there:
a) The capital withdrawal date of the foreign loan in the form of goods import with deferred payment is:
The 90th day from the date of issuance of the transport document in case the account service provider requires the set of payment documents to have the transport document;
The 45th day from the date of completion of the inspection stated on the customs declaration has been cleared in case the bank providing account services does not require a set of payment documents to have a transport document;
b) The final payment date is determined as:
The last payment date of the contractual payment period;
The last actual payment date in case of non-performance according to the contract or the contract does not specify a payment term;
c) The term of a foreign loan in the form of imported goods with deferred payment is the term determined from the date of first capital withdrawal to the date of final payment.”
How to determine whether there is a foreign loan in the form of deferred payment for imported goods:
To determine whether a foreign loan in the form of deferred payment import of goods needs to be reported, you can follow these steps:
1. Determine the first withdrawal period:
→ Case 1: If the bank requires a set of payment documents with transport documents, the withdrawal date is the 90th day from the date of issuance of the transport documents.
→ Case 2: If the bank does not require a transport document, the withdrawal date is the 45th day from the date of completion of customs inspection.
2. Determine the final payment deadline:
+ If the contract provides for a payment term, the final payment date will be the date specified in the contract.
+ Unless otherwise specified in the contract, the final payment date is the actual date when the final payment is made.
3. Calculate loan term:
The loan term will be calculated from the first drawdown date to the last payment date. If the first drawdown date is before the last payment date, this is a reportable loan.
Procedures for reporting loans in the form of deferred payment for imported goods
According to Clause 2, Article 5, Circular 12/2022/TT-NHNN "For reporting on the status of foreign loan implementation, the borrower must use the website to carry out the online reporting regime according to regulations." in this Circular”.
Thus, the borrower must Make online reports The implementation status of short, medium and long-term loans on the website. For this, the Circular requires the use of the website to implement the online reporting regime.
At the same time, Clause 1, Article 41 of Circular 12/2022/TT-NHNN states that "In case the website encounters a technical error and cannot send a report, the borrower shall send a written report according to the form in Appendix 05 issued with this Circular".
Thus, if there is a technical error, the business should take a screenshot of the error report and send it in writing for review and processing.
