Headlines 13/01/2018 16:36 CH

10 special preferential import tariff schedules in 2018

Kiều Nga

The Government has just issued 10 Decrees on Vietnam’s special preferential import tariff schedules in order to implement free trade agreements coming into force from January 01, 2018. To be specific:

- The Decree No.149/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement Vietnam - Korea Free Trade Agreement during 2018 - 2022.

- The Decree No.150/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement Free Trade Agreement between the Socialist Republic of Vietnam, of the one part, and the Eurasian Economic Union and its Member States, of the other part during 2018 - 2022.

- The Decree No. 153/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement Agreement on Trade in Goods signed with the ASEAN and China during 2018 - 2022.

- The Decree No.154/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement Vietnam-Chile Free Trade Agreement during 2018 - 2022.

- The Decree No.155/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement Vietnam - Japan Economic Partnership Agreement during 2018 - 2023.

- The Decree No. 156/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement ASEAN Trade in Goods Agreement during 2018 - 2022.

- The Decree No. 157/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement ASEAN - Korea Trade in Goods Agreement during 2018 - 2023.

- The Decree No. 158/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement Agreement Establishing the ASEAN - Australia - New Zealand Free Trade Area during 2018 - 2022.

- The Decree No. 159/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement the ASEAN - India Trade in Goods Agreement during 2018 - 2022.

- The Decree No.160/2017/ND-CP on Vietnam’s special preferential import tariff schedules in order to implement ASEAN - Japan Comprehensive Economic Partnership Agreement during 2018 - 2023.

The 10 special preferential import tariff schedules enclosed with the abovementioned Decrees contain the following noticeable regulations:

- The new tariff schedules are extended up to 04 - 05 years and come into force from 2018 to 2022/2013 (previously 02 years)

- Regulations on import duty rate inside and outside tariff quota rate are added:

+ Inside tariff quota rates are provided in the tariff schedules enclosed with Decrees.

+ Outside tariff quota rates are applied in accordance with effective regulations of the Government at the time of import.

- Import duty rates on multiple commodities are reduced to o%, including several types of motor vehicles, watches, toys, electronic components, fertilizers, etc.

- The Decree also prescribes conditions for application of the special preferential import duty rates, such as:

+ The commodity is listed on one of the special preferential import tariff schedules enclosed with 10 Decrees (except for some specific regulations);

+ The goods are imported from a country that has one of the Agreements with Vietnam;

+ The goods are transported directly from the exporting country to Vietnam;

+ The goods are compliant with regulations on goods origin under the Agreement and have the Certificate of Origin (C/O).

The 10 new Decrees contain descriptions and explanation for the classification of goods according to the Vietnam’s nomenclature of exports and imports.

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