Issuing date: 04/07/2024

Issuing authority: the Government

Effective since: 04/07/2024

On July 4, 2024, the Government issued Decree No. 81/2024/ND-CP amending and supplementing some of the articles of Decree No. 119/2022/ND-CP dated December 30, 2022 of the Government promulgating Vietnam's special preferential import tariff schedule to implement the ASEAN - South Korea Trade in Goods Agreement (AKFTA) for the period 2022 - 2027.

Vietnam's special preferential import tariff clearly states that the AKFTA tax rate is 0% for many types of goods such as: Live animals; Meat and edible meat by-products after slaughter...

AKFTA tax rate of 5% for certain types of mineral or chemical fertilizers containing phosphate, cosmetics or makeup preparations and skin care preparations (except pharmaceuticals), including sunscreen or suntan preparations; preparations for fingernails or toenails.

In particular, the Government supplements in the Deccree the List of goods applying special preferential import tax rates outside Vietnam's quota to implement the ASEAN - South Korea Trade in Goods Agreement for the period 2023 - 2027.

In addition, the Decree clearly states: For imported goods subject to tariff quotas, including several goods belonging to commodity groups 04.07, 17.01, 24.01, 25.01, the AKFTA tax rate within the quota is the prescribed tax rate. In the Special Preferential Import Tariff issued together with this Decree, the AKFTA out-of-quota tax rate is the tax rate specified in the List of goods applying special out-of-quota preferential import tax rates issued. attached to this Decree.

Out-of-quota import tax rates for goods not on the above list are applied according to the provisions of the Export Tariff, Preferential Import Tariff, List of goods and absolute and mixed tax rates, import tax outside the Government's tariff quota at the time of import.

The list and amount of annual import tariff quotas are according to regulations of the Ministry of Industry and Trade.

The Decree (in Vietnamese) is attached below:

• Decree 81/2024/ND-CP
• Preferential Import Tariffs

• Decree 119/2022/ND-CP on Preferential Import Tariffs for implementation of the AKFTA in the period 2022 - 2027
• Notice No. 257/TB-BCT on printing Certificate of Origin on A4 paper format
• Circular No. 13/2019/TT-BCT Circular No. 04/2015/TT-BCT amending Circular No. 20/2014/TT-BCT on Rules of Origin of the AKFTA
• Decree No. 157/2017/NĐ-CP dated December 27th 2017 on promulgating Vietnam's special preferential import Tariff for implementation of AKFTA in the period 2018 – 2022