The Ministry of Finance (MoF) recently released 5 circulars providing the special preferential import tariff to implement the below Free Trade Agreements (FTAs) for the period of 2015-2018.
• ASEAN Trade in Goods Agreement (Circular 165/2014/TT-BTC)
• ASEAN-China FTA (Circular 166/2014/TT-BTC)
• ASEAN-Korea FTA(Circular 167/2014/TT-BTC )
• ASEAN-Australia-New Zealand FTA (Circular 168/2014/TT-BTC)
• ASEAN-India FTA(Circular 169/2014/TT-BTC)
The special preferential import duty rates prescribed in the import tariffs attached to these circulars reflect Vietnam’s commitments on tariff reduction under these FTAs. Imported goods that meet the relevant conditions stated in these circulars will enjoy special preferential import duty rates.
Where the normal rate of a specific product prescribed in the preferential import tariff is lower than the special preferential import duty rate, the normal rate will apply.
The above circulars took effect on 1 January 2015.