When a foreign investor brings used machinery into a Vietnamese project – as a capital contribution, a purchase from the parent or part of a relocated production line – the same asset has to pass four separate tests: the import conditions, the customs value, the value recognised as contributed capital, and the cost on which depreciation is deducted. Problems arise when each is handled by a different adviser at a different time.
Four tests, one asset
| Test | Who looks at it | Typical problem |
|---|---|---|
| Import conditions | Customs; Ministry of Science and Technology rules on used machinery | Age, remaining capacity or energy consumption not evidenced; inspection certificate missing required content |
| Customs value | Customs | Related-party price not accepted; no invoice because the machine is contributed rather than sold |
| Contributed capital | Investment registration, members or shareholders, auditors | Value agreed between members with no independent basis; mismatch with customs value |
| Depreciable cost | Tax authority, auditors | Cost and remaining useful life inconsistent with the first three tests; deductions challenged |
Import conditions under Circular 56/2026/TT-BKHCN
Circular 56/2026/TT-BKHCN, effective from 5 September 2026, sets out the requirements for importing used machinery, equipment and production lines within its scope. Three tests matter most:
| Test | Circular 56/2026/TT-BKHCN |
|---|---|
| Age | Generally no more than 10 years. Age is the import year minus the year of manufacture, counted in whole years; the import year is the year the goods arrive at a Vietnamese border gate. Equipment made in February 2016 and arriving in November 2026 is 10 years old and still qualifies; at 11 years it does not. |
| Sector exceptions | Appendix I allows 15 or 20 years for specified equipment by HS code – for example certain metal-working, metallurgical, wood-processing, paper and pulp machinery. The HS code must be checked against the appendix, not assumed from the sector. |
| Standards and evidence | Age alone is not enough: the equipment must meet technical standards on safety, energy efficiency and environmental protection; production lines must keep at least 85% of design capacity, with material and energy consumption no more than 15% above design. Under Article 9, machinery manufactured in the G7 or South Korea may use a qualifying original manufacturer confirmation, consular-legalised and translated into Vietnamese; otherwise a certificate from a designated inspection body is required. Production lines follow separate certification rules. |
Transitional provisions matter for shipments prepared under the old rules, and equipment over the age limit may only be imported through a separate approval route.
Aligning the values
- Start from the asset, not the document. Identify each machine: manufacturer, model, year, condition, maintenance history. The same data feeds every test.
- Obtain the required technical evidence. Use the applicable manufacturer confirmation or inspection certificate for import, and retain evidence supporting remaining useful life.
- Commission an independent valuation where the machine is contributed as capital or bought from a related party. Within the Professional Network, Independent Audit & Valuation (IAV) performs valuations as a separate legal entity; IPAS does not issue valuation opinions.
- Reconcile before filing. Customs value, contributed capital and accounting cost need not be identical, but each difference needs a documented explanation that can be assessed in a later inspection – including under the related-party rules of Decree 255/2026/ND-CP.
- Set depreciation on evidence. The useful life and cost in the fixed-asset register should follow from the technical evidence and valuation, not from a default table.
Assess import eligibility, customs value, contributed capital and depreciable cost together, and document why the amounts may differ.
Relevant capabilities: International Business Advisory (IBA) · Independent Audit & Valuation (IAV)
General information as at October 2026. It is not legal, tax or accounting advice for any specific situation; check the law in force and your own facts before acting. Import conditions should be checked against the legal text in force on the date of import.
