Foreign loans in the form of deferred payment for imported goods must be reported as prescribed. Circular 12 / 2022 / TT-NHNNBelow are guidelines for reporting foreign loans in the form of deferred payment for imported goods.
What is a deferred payment loan for imported goods?
Foreign loans in the form of deferred payment for imported goods are a type of self-borrowed, self-repaid loan where the borrower undertakes the import of goods, with the first disbursement date preceding the final payment date. Withdrawal date This is determined based on the time elapsed 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 bank providing the account services. Loan term Calculated from the date of the first disbursement to the date of the final payment as per the contract or based on actual payment.
Report foreign loans in the form of deferred payment for imported goods.
Clause 1, Article 41 of Circular 12/2022/TT-NHNN states: “Periodically, on a monthly basis, no later than the 05th day of the month following the reporting period, borrowers must report online on the status of short-term, medium-term, and long-term loan disbursements on the website.”
Therefore, loans in the form of deferred payment for imported goods must be reported in accordance with the regulations in Circular 12/2022/TT-NHNN dated September 30, 2022, guiding foreign exchange management for foreign borrowing and debt repayment by enterprises.
Determine if there is a loan in the form of deferred payment for imported goods.
Legal grounds:
Clause 1, Article 3 of Circular 12/2022/TT-NHNN states: “Foreign loans are a general term referring to foreign loans not guaranteed by the Government (hereinafter referred to as self-borrowed, self-repaid loans) and foreign loans guaranteed by the Government in any form of foreign borrowing through loan contracts and deferred payment import contracts.” Self-borrowed, self-repaid loans in the form of deferred payment import contracts are defined according to the provisions of Clause 1, Article 4 of Circular 12/2022/TT-NHNN:
“1. Foreign loans in the form of deferred payment for imported goods are loans for imported goods where the first disbursement date is before the final payment date; in which:
a) The disbursement date for foreign loans in the form of deferred payment for imported goods is:
The 90th day from the date of issuance of the transport document in cases where the bank providing the account service requires the payment documents to include a transport document;
On the 45th day after the completion of the inspection as stated on the customs declaration, the goods have been cleared in cases where the bank providing the account service does not require the payment documents to include transport documents;
b) The final payment date is determined as:
The final payment date of the contract payment period;
The final actual payment date in case of non-performance of the contract or when the contract does not specify a payment deadline;
c) The term of a foreign loan in the form of deferred payment for imported goods is the period determined from the date of the first disbursement to the date of the final payment.”
How to determine if a foreign loan has been incurred in the form of deferred payment for imported goods:
To determine whether a foreign loan in the form of deferred payment for imported goods needs to be reported, you can follow these steps:
1. Determine the first withdrawal date.:
Case 1If the bank requires the payment documents to include a transport document, the disbursement date is the 90th day from the date of issuance of the transport document.
Case 2If the bank does not require transport documents, the disbursement date is the 45th day after the completion of customs inspection.
2. Determine the final payment deadline.:
+ If the contract specifies a payment deadline, 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 on which the final payment is made.
3. Calculate the loan term.:
The loan term will be calculated from the date of the first disbursement to the date of the final payment. If the first disbursement date is before the final payment date, this is a loan that needs to be reported.
Procedures for reporting loans under the deferred payment import scheme.
According to Clause 2, Article 5 of Circular 12/2022/TT-NHNN, "For reporting on the implementation of foreign loans, borrowers must use the website to submit online reports as prescribed in this Circular."
Therefore, the borrower must Submit online reports The status of short-term, medium-term, and long-term loan disbursement is monitored through the website. For this purpose, the Circular requires the use of the website for online reporting.
At the same time, Clause 1, Article 41 of Circular 12/2022/TT-NHNN states that "In case the website experiences technical errors and cannot send the report, the borrower shall send the report in writing using the form in Appendix 05 issued with this Circular."
SoIf a technical error occurs, businesses should take a screenshot of the faulty report and submit it along with the written report for review and resolution.