Importing money counting machines into Vietnam is not on the list of prohibited or restricted import goods; however, businesses need to pay close attention to the condition requirements (new/used) and correctly determine the HS code within the office equipment group to avoid errors when declaring customs.
An important point that businesses need to understand clearly when carrying out the money counting machine import procedure is that this item does not require a license from the State Bank as many mistakenly believe – a money counting machine is simply ordinary office equipment. However, if importing it as used equipment, businesses must comply with the equipment age condition under Decision 18/2019/QĐ-TTg, a point that many new businesses tend to misunderstand or overlook.
This article by 3W Logistics presents the entire money counting machine import procedure according to current legal regulations and the latest tariff schedule – from legal conditions, HS codes, tax calculation, documentation, step-by-step process to actual risks, from the perspective of a forwarder experienced in handling office equipment and financial machinery imports.
1. Legal conditions for importing money counting machines into Vietnam
Money counting machines are not on the list of prohibited import goods and are also not on the list of conditional import goods under Decree 69/2018/NĐ-CP; however, some specific conditions should still be noted depending on the condition of the goods.
| Condition | Detailed Content |
|---|---|
| Brand-new money counting machine (100%) | Permitted for normal import, no specialized license required, customs procedures carried out as for ordinary office equipment |
| Used money counting machine | Must comply with Decision 18/2019/QĐ-TTg: equipment age calculated from the year of manufacture to the time of import must not exceed 10 years, and must also meet the manufacturer’s technical safety standards |
| Not under the management of the State Bank | A money counting machine is office equipment, not a currency printing or processing device under the licensing authority of the State Bank, so no permission from this agency is required for normal commercial import |
| Machines with integrated wireless connectivity (Wifi/Bluetooth) | A rare case with high-end money counting machines that export data via wireless connection; it is necessary to check whether they fall under the list of products requiring telecommunications conformity certification managed by the Ministry of Science and Technology |
| Product labeling | Under Decree 43/2017/NĐ-CP and 111/2021/NĐ-CP: a Vietnamese sub-label clearly stating the model, technical specifications, voltage, origin, and manufacturer/importer |
Practical note: The most important point in the money counting machine import procedure is to clearly determine from the outset whether the goods are new or used. Many businesses want to import used money counting machines to save on costs but fail to check the equipment’s age before signing the contract, resulting in the goods arriving at the port only to discover they exceed 10 years under Decision 18/2019/QĐ-TTg and are not eligible for customs clearance, requiring re-export or destruction, causing significant cost losses.
2. HS code and import tax for money counting machines
Money counting machines belong to group 84.72 of the Import-Export Tariff Schedule (Chapter 84) – the group for other office machines, in the same group as coin-wrapping machines and automatic teller machines.
| Group/HS Code | Detailed Description | Import Tax (MFN) |
|---|---|---|
| 84.72 — Other office machines (for example: hectograph or stencil duplicating machines, addressing machines, automatic banknote dispensers, coin-sorting, coin-counting or coin-wrapping machines, pencil-sharpening machines, perforating or stapling machines) | ||
| 8472.90.10 | Automatic teller machines (ATM) | 0% |
| 8472.90.20 | Coin counting, sorting, or wrapping machines | 0% |
| 8472.90.30 | Banknote counting, sorting, or counterfeit-detecting machines (banknote counter/sorter) – the most common HS code for commercial money counting machines | 0% |
| 8472.90.90 | Other office machines not specified in the above subheadings | 0–5% |
Important tax note: This is the most important update point to note in the current money counting machine import procedure: most HS codes under group 8472.90 for counting/sorting machines already have an MFN import tax rate of 0%, so businesses do not necessarily need to obtain a C/O for additional preferential treatment. The main tax cost businesses need to budget for is the standard 10% VAT, applied to the entire CIF value of the shipment.
3. Documentation required for importing money counting machines
Since money counting machines are not subject to specialized management when importing new goods, the documentation set for the money counting machine import procedure is relatively simple; additional documents are required when importing used goods.
| Document | When to Prepare | Important Notes |
|---|---|---|
| Sales Contract | Before making a deposit | Clearly state the model, condition of the goods (new/used), and year of manufacture if the goods are used |
| Commercial Invoice & Packing List | Before the goods are shipped | Fully state the item name, model, and quantity by each type of money counting machine |
| Bill of Lading / Airway Bill | After the goods are shipped | Money counting machines are compact equipment and can be transported by sea (LCL – less than container load) or by air depending on quantity |
| Technical catalogue/datasheet | Before the goods are shipped | Necessary to determine the correct HS code, especially to distinguish between banknote counting machines and coin counting machines |
| Certificate of year of manufacture (if goods are used) | Before the goods are shipped | Mandatory under Decision 18/2019/QĐ-TTg to prove the equipment age does not exceed 10 years |
| C/O (Certificate of Origin) | Before the goods are shipped | Not mandatory for codes already at MFN 0%, only needed if the applicable code falls under a subheading still subject to tax |
| Electronic customs declaration (VNACCS/VCIS) | When documentation is complete | Declare the correct HS code, clearly distinguishing between banknote counting machines (8472.90.30) and coin counting machines (8472.90.20) |
4. Step-by-step money counting machine import procedure
Step 1: Determine the condition of the goods and the HS code
Determine whether the money counting machine to be imported is new or used; if used, check the year of manufacture to ensure the equipment age does not exceed 10 years under Decision 18/2019/QĐ-TTg before proceeding with the next steps.
Step 2: Negotiate the contract and request technical documentation
Sign the contract to purchase the money counting machine, and request the supplier to provide a catalogue/datasheet clearly stating the model and function (banknote counting, coin counting, counterfeit detection) to determine the correct HS code under group 84.72.
Step 3: Transport the goods to Vietnam
Money counting machines are compact equipment, usually transported by sea as LCL (less than container load) or by air for small-quantity orders; shock-resistant packaging is needed for the optical sensor components inside the machine.
Step 4: Electronic customs declaration
Open a VNACCS/VCIS declaration with the full HS code, along with a certificate of year of manufacture if the goods are used, to prove eligibility for import under the regulations.
Step 5: Physical inspection of goods (if classified into the yellow/red channel)
Customs authorities compare the actual shipment with the declared documentation regarding model, quantity, and condition of the goods; businesses should have the catalogue ready to explain if requested.
Step 6: Finalize the declaration and release the goods into circulation
After completing tax obligations and having the documentation accepted, the business finalizes the customs declaration at the Customs Sub-Department where the declaration was opened, and the goods are officially permitted to circulate in the market.
5. How to calculate import tax for money counting machines
Money counting machines are not subject to special consumption tax, only import tax and 10% VAT. For example, with a shipment of banknote counting machines with counterfeit detection function imported from South Korea (HS code 8472.90.30, MFN tax rate 0%), CIF value of 600 million VND:
| Tax / Cost Item | Amount |
|---|---|
| CIF value | 600,000,000 VND |
| Import tax | 0% × 600M = 0 VND |
| VAT (10%) | 10% × (600+0)M = 60,000,000 VND |
| Total tax payable | 60,000,000 VND (~60 million) |
| Note | With HS codes already at the MFN 0% level, the main tax cost comes from VAT; businesses should also budget for inspection costs/certificate of year of manufacture if importing used equipment – while this is not counted as tax, it affects the total import cost. |
From 3W Logistics’s practical experience: With money counting machines, the most common mistake we have recorded is many businesses confuse banknote counting machines with coin counting machines when declaring the HS code, resulting in customs requesting additional explanation with technical catalogues. In addition, some businesses want to import used money counting machines at a cheap price but fail to carefully check the year of manufacture before making a deposit, resulting in the goods arriving at the port only to discover they exceed the permitted equipment age under Decision 18/2019/QĐ-TTg, requiring re-export and incurring additional storage and warehousing costs. – Ms. Apple, CCO, 3W Logistics
6. Common risks in the procedure for importing money counting machines
| Risk | Manifestation | Prevention Method |
|---|---|---|
| Importing used machines exceeding the permitted age | The used money counting machine has a year of manufacture more than 10 years old – not eligible for import under Decision 18/2019/QĐ-TTg | Request the supplier to confirm the year of manufacture via the original label or catalogue before signing the contract |
| Incorrect HS code between banknote and coin counting machines | Confusion between code 8472.90.20 (coins) and 8472.90.30 (banknotes) – customs requests explanation or reclassification | Cross-check the actual function against the product catalogue before declaring the HS code |
| Overlooking telecommunications conformity certification check | High-end money counting machines with integrated Wifi/Bluetooth but not yet checked whether they fall under specialized telecommunications management | Check the product’s connectivity specifications before signing the contract, consult the management authority if necessary |
| Damage to optical sensors during transportation | The money counting machine’s sensor is misaligned or the counting component is damaged due to impact or shaking during long-distance transportation | Request the supplier to use specialized shock-resistant packaging, purchase adequate cargo insurance before shipping |
| Missing Vietnamese sub-label | Goods arrive at the warehouse but the sub-label has not yet been affixed as required, making them ineligible for official commercial circulation | Prepare the sub-label under Decree 43/2017/NĐ-CP and 111/2021/NĐ-CP in parallel with the customs clearance process |
FAQ – Frequently Asked Questions about money counting machine import procedure
Question 1: What documents are needed for the procedure for importing money counting machines?
The complete documentation set for the procedure for importing money counting machines includes: Sales Contract; Commercial Invoice and Packing List; Bill of Lading/Airway Bill; Technical catalogue/datasheet; Certificate of year of manufacture (if the goods are used); C/O (if needed); Electronic customs declaration VNACCS/VCIS.
Question 2: Does importing a money counting machine require a license from the State Bank?
No. A money counting machine is ordinary office equipment, not a currency issuance or processing device under the separate licensing authority of the State Bank, so businesses do not need to obtain permission from this agency when carrying out the procedure for importing money counting machines that are 100% new.
Question 3: Is it possible to import used money counting machines?
Yes, but they must meet the conditions under Decision 18/2019/QĐ-TTg: the equipment age calculated from the year of manufacture to the time of import must not exceed 10 years. Businesses need to have a certificate of the year of manufacture from the supplier to prove this during customs procedures.
Question 4: How many types of tax must be paid when importing a money counting machine?
Money counting machines are subject to only two layers of tax: (1) Import tax calculated on the CIF value, with most HS codes under group 8472.90 already at the MFN rate of 0%; (2) VAT at the standard rate of 10%, calculated on the total CIF plus import tax. Money counting machines are not subject to special consumption tax.
How does 3W Logistics support the procedure for importing money counting machines?
With experience handling a wide range of office equipment and financial machinery imports, and registered as an OTI-NVOCC with FMC bond (Federal Maritime Commission) in the US, 3W Logistics provides a complete service for businesses regarding the procedure for importing money counting machines – from HS code consulting to the goods arriving at the distribution warehouse.
Full-package logistics service at 3W Logistics:
- Consulting to determine the correct HS code according to the machine’s function: Clearly distinguish between banknote counting machines, coin counting machines, and ATMs to avoid applying the wrong tax rate.
- Checking import conditions for used goods: Cross-check the year of manufacture against the regulations under Decision 18/2019/QĐ-TTg before signing the contract.
- Calculating actual tax according to the latest tariff schedule: Fully updated with the MFN 0% tax rate for each subgroup under 8472.90.
- Advising on product labeling and Vietnamese sub-labels: Ensuring the product is eligible for circulation immediately upon customs clearance.
- Electronic customs declaration VNACCS/VCIS and resolving issues at the border checkpoint: Declaring the correct HS code, quickly handling situations that arise during physical inspection of goods.
Why choose 3W Logistics for your money counting machine import shipment? The procedure for importing money counting machines, while not legally complex in terms of specialized regulations, requires accurate HS code classification and careful checking of conditions for used goods. We accompany you from the HS code consulting stage until the goods arrive at the warehouse – helping businesses avoid unnecessary additional costs and shorten customs clearance time. Contact 3W for specific advice before signing the import contract.
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Hotline: +84 28 3535 0087
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3W Logistics Hai Phong Branch
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Hotline: +84 225 355 5939
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3W LOGISTICS CO., LTD – We here serve you there!
Email: info@3w-logistics.com
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Ms. Apple is the CCO (Chief Commercial Officer) at 3W Logistics, with over 10 years of experience in sales and business operations management.
At 3W Logistics, Ms. Apple is responsible for commercial strategy, corporate customer development, managing a team of more than 50 sales professionals, and improving business performance in the logistics sector.
With practical experience in sales management and market development, Ms. Apple shares professional insights on business logistics solutions, international transportation, freight forwarding, customer management, trade lane development, and growth strategies in the logistics industry.
