On 14 February 2015, the Ministry of Finance (MoF) issued 2 circulars providing the special preferential import tariff to implement the below agreements between ASEAN – Japan and Vietnam – Japan for the period of 2015 – 2019.
• ASEAN – Japan Comprehensive Economic Partnership Agreement (AJCEP) (Circular 24/2015/TT-BTC) • Vietnam – Japan Economic Partnership Agreement (VJEPA) (Circular 25/2015/TT-BTC)
From 1 April 2015, there will be 2874 items under AJCEP and 3234 items under VJEPA with 0% import duty rate. Imports which will enjoy 0% duty rate include plastics, chemicals, equipment and machinery, computers, electronics products, shoe leather, fibres, new pharmaceutics and etc.
For more information, please click PwC Vietnam Newsbrief_Special Preferential Import Tariffs to implement ASEAN – Japan and Vietnam – Japan Agreements during 2015 – 2019_EN for English version and here for Vietnamese version.