New points of 10 special preferential import tariffs in 2018

1 January, 2018

The Government issued 10 Decrees on Vietnam’s special preferential import tariffs to implement trade agreements effective from January 1, 2018; specifically:

New points of 10 special preferential import tariffs in 2018

– Decree 149/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the Vietnam – Korea Free Trade Agreement for the period 2018 – 2022.

– Decree 150/2017/ND-CP on Vietnam’s special preferential import tariff to implement the Free Trade Agreement between the State of Vietnam on one side and the Eurasian Economic Union and its member countries on the other side for the period 2018 – 2022.

– Decree 153/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the ASEAN-China Trade in Goods Agreement for the period 2018 – 2022.

– Decree 154/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the Free Trade Agreement between Vietnam and Chile for the period 2018 – 2022.

– Decree 155/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the Agreement between Vietnam and Japan on Economic Partnership for the period 2018 – 2023.

– Decree 156/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the ASEAN Goods Trade Agreement for the period 2018 – 2022.

– Decree 157/2017/ND-CP on Vietnam’s special preferential import tariff to implement the ASEAN – Korea Trade in Goods Agreement for the period 2018 – 2023.

– Decree 158/2017/ND-CP on Vietnam’s special preferential import tariff to implement the Agreement to establish the ASEAN – Australia – New Zealand Free Trade Area for the period 2018 – 2022.

– Decree 159/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the ASEAN – India Trade in Goods Agreement for the period 2018 – 2022.

– Decree 160/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the ASEAN-Japan Comprehensive Economic Partnership Agreement for the period 2018 – 2023.

The 10 special preferential import tariffs promulgated together with the above-mentioned Decrees have the following outstanding new features:

The term of the new tariffs has been extended to 4-5 years and is applied from 2018 to 2022/2023 (old regulations were only 2 years).
Additional regulations on import tax rates inside and outside the tariff quota:
For imported goods subject to tariff quotas, special preferential import tax rates apply to the quantity of imported goods within the tariff quota as detailed in the Tariff Schedule attached to the Decrees.
The out-of-quota import tax rate applies according to the Government’s regulations at the time of import.
Regulation of many tax lines reduced to 0%, focusing on imported products such as: some car models, watches, children’s toys, electronic components, fertilizers…
Regulating specific conditions to enjoy special preferential import tax rates such as:
Goods must fall under the Special Preferential Import Tariff promulgated together with the 10 Decrees (except for a number of other specific regulations);
Imported from countries that are members of the Agreement into Vietnam;
Shipped directly from the exporting country to Vietnam;
Meets regulations on goods origin according to the Agreement, has a Certificate of Origin (C/O) in accordance with regulations.

At the same time, the 10 new Decrees also add notes and general rules explaining the classification of goods according to Vietnam’s List of Exported and Imported Goods.