MCC Transport - Your Intra-Asia Partner

16 December 2009

New Vietnam THC

Please note revised THC in Vietnam according to the new guidances on Value-Added Tax (“VAT”) effective 2010 including:

- Circular 134/2008/TT-BTC issued 31 December 2008 by Ministry of Finance;
- Circular 13/2009/TT-BTC issued 22 January 2009 by Ministry of Finance;

The reduction of 50% for Terminal Handling Charges (THC) is applicable from 01/02/2009 to 31/12/2009. Effective 1st January 2010, THC will be the normal rate of 5% for VAT as part of Foreign contractor tax (FCT) paid by Shipping Lines.

In line with above circular, the total payable amount of THC in 2010 will include the withholding VAT that is computed based on gross and the following rates:

Surcharge	Unit Price	Current Rate	New Rate
			Total Payable Amount	Witholding VAT included
THC	20'	USD76	USD78	USD3.90
	40'/45'	USD114	USD117	USD5.85

(* Includes 5.0% Withholding CIT and applicable Withholding VAT)

The effective date is 15 January 2010, applicable from container gate-in date.

For Vietnamese legal entities, you will be able to reclaim the Withholding VAT listed above as per current local regulations.

We look forward to receiving your continued support and cooperation.