Thousands of goods items will enjoy a zero percent import tariff in 2018 in line with Vietnam’s commitments on special preferential import duty rates within the framework of 10 free trade agreements (FTA). Thousands of goods items to enjoy zero percent tariff in 2018 The free trade deals are ASEAN, ASEAN-China, ASEAN-Republic of Korea (RoK), ASEAN-Japan, ASEAN-India, ASEAN-Australia-New Zealand, Vietnam-Japan, Vietnam-RoK, Vietnam-Chile, and Vietnam-Eurasian Economic Union (EAEU). Deputy head of the International Relations Department under the Ministry of Finance Pham Tuan Anh revealed the information at a press conference in Hanoi on January 5 to introduce ten decrees stipulating preferential import tariffs for the 2018-2023 period. Under the Vietnam-EAEU FTA decree, 5,535 tariff lines have been reduced to zero percent as of 2018 while 3,720 others are following suit this year such as milk, dairy products, automobile and spare parts, iron and steel, and steel products. For the ASEAN-China FTA, products to be subjected to the zero percent import tax rate in 2018 includes chicken, coffee, raw tea, processed food, apparel fabrics, clothes, electronic equipment and electrics. The Vietnam-Japan FTA will see the zero percent rate applied to 456 tariff lines, mainly for the group of fat, sugar, machinery, equipment, and vehicle parts. Seafood, wheat, confectionery, diesel fuel, machinery and electronic equipment are some of 704 tariff lines that will be cut to zero percent this year under the Vietnam-RoK FTA (KVFTA). Regarding the ASEAN Trade in Goods Agreement (ATIGA) decree, Vietnam had basically completed the elimination of tariffs within… [Read full story]
Illustrative image (Source:VNA)Hanoi (VNA) – Many goods made in Cambodia willenjoy zero percent tax in the Vietnamese market under the newly-issued Decree24/2017/ND-CP on special preferential import tax to realise theVietnam-Cambodia trade promotion agreement signed in 2016.According to the decree, zero percent tax will be applied tocertain live poultry; fresh or frozen poultry meat; fresh and dried citrus fruits;rice; bread, pastry, biscuit and some kinds of cakes and crackers; consecratedcake and soft gel shells.To be eligible for the zero percent tariff, products musthave certificates of origin in form S issued by Cambodia’s authorized agency, andbe transported through one of the 24 border…... [read more]
Many goods made in Cambodia will enjoy zero per cent tax in the Vietnamese market.This is according to recently-issued Decree 24/2017/ND-CP on special preferential import tax to realise the Việt Nam-Cambodia trade promotion agreement signed in 2016.According to the decree, zero per cent tax will be applied to certain live poultry, fresh or frozen poultry meat, fresh and dried citrus fruits and rice, as well as bread, pastry, biscuits and some kinds of cakes, along with crackers, consecrated cake and soft gel shells.To be eligible for the zero per cent tariff, products must have certificate of origin in form S…... [read more]
Illustrative image (Source: VNA) Hanoi (VNA) – Rice and dried tobaccoleaves imported from Cambodia will enjoy a import tariffs of zero percent fromJanuary 1 – December 31, 2017. The decision was made in a circular recentlyissued by the Ministry of Industry and Trade. It states that the imported goods must havecertificates of origin licensed by the Cambodian Ministry of Commerce orconcerned agencies and go through customs clearances at border gates listed inthe circular’s Appendix 02.Merchants who import dried tobacco leaves mustalso have licenses. The circular will be effective from January18 – December 31, 2017.-VNA... [read more]
Under the FTA signedon November 11, 2011, Chile has committed to removing 99.62 percent oftariff lines for imports from Vietnam within ten years. Immediatelyafter the agreement takes effect, 83.54 percent of tariff lines onVietnam’s exports to Chile will be cut to zero percent. Meanwhile,Vietnam will also eliminate 87.8 percent of tariff lines for Chile’sgoods within 15 years. Among the remaining 12.2 percent of tariff lines,4.08 percent of tariff lines are included in the exclusion list, 3.37percent of tariff lines will maintain their base rates and 4.75 percentof tariff lines will have the tax rates reduced.The two countries will offer incentives…... [read more]
This is the second time DOC has cleared Bianfisco from its tariffs,making the company the sole Vietnamese tra and basa fish exporter enjoythe zero-percent tax in the US market in the two consecutive years.BianfiscoCEO and Director General Pham Thi Dieu Hien said the DOC based on thesecured quality of Bianfisco’s products to make that decision, whichwill enable the company to accelerate its penetration into the USmarket, the one of a high potential.Bianfisco has investedheavily in building a fish material breeding zone to the GlobalPartnerships for Good Agriculture Practice (GAP) and applied amanagement system to track down the entire processing process…... [read more]
