MoF sets preferential tariff for ASEAN and China-sourced imports (03/05)
06/08/2010 - 48 Lượt xem
The preferential tariff has been built based on the commitments under the framework of the ASEAN - China Free Trade Agreement (ACFTA), of which Vietnam is a member.
The tax reduction would be implemented in a roadmap with many steps, and the newly stipulated tariff is one of these steps. In the long term, the taxes on imports sourced from ASEAN and China would be cut further to 0-5% as committed.
The newly announced tariff sees sharp tax cuts on many categories of products, and the targeted tax rates of 0-5% are now applied to many of goods items.
The Ministry of Finance (MoF) has announced the tax cut, from 90% to 80%, on popular vehicles, including vans, pick ups, normal trucks, and the vehicles which have the tonnage of not more than five tones. The trucks that have the maximum tonnage of over six tones, would be imposed 50% in tax instead of 55% as previously applied.
Meanwhile, special vehicles, like the ones for riding on snow, serving on golf courses, and small racers, would enjoy the tax reduction from 50% to 40%. However, sedans would retain the old tax rates at 80%.
The tariff would be applied for all the imports to Vietnam from Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and China.
The goods, that can enjoy the preferential tariff, must be directly transferred from the import countries to Vietnam. Moreover, the goods must meet the requirements on goods origin, and China and ASEAN content, which must be certified by official documents.
Source: VietnamNet
