Draft Decree on Vietnam's Special Preferential Import and Export Tariffs for implementation of CPTPP in the period 2019-202223/01/2019
On 17 January 2019, the Ministry of Finance issued the Draft Decree of the Special Preferential Export and Import Tariff of Vietnam to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the period 2019-2022.
The Draft provides the Preferential Export and Import Tariff for the implementation of CPTPP in the period 2019-2022 and the conditions for special preferential tax rates under the Agreement.
In terms of tax rates, the roadmap for tax reduction in Vietnam is applied to two groups of countries: (i) Mexico applies tax rates according to the reduction schedule starting from the first year; (ii) Australia, Canada, Japan, New Zealand, Singapore apply the tax rate according to the reduction schedule starting from the second year.
In terms of conditions for enjoying preferential export tax rates, merchants must have transport documents and import declarations expressing the destination in the territories of the above countries. Because at the time of customs clearance, the trader does not have the above documents, so the Draft stipulates that at this time the goods shall apply the tax rate specified in the current Tariff (no preference), and will be processed managing overpaid taxes after submitting all papers.
In terms of conditions for enjoying preferential import tax rates, traders must have certificates of goods origin certification under the CPTPP Agreement.
If you have any comments please send to the following contact before January 26, 2019:
WTO Center and Integration, VCCI, No. 9 Dao Duy Anh, Hanoi
Tel: 024-35771458 / Fax: 024-35771459
The draft Decree (Vietnamese) is attached below: