3:26:17 PM | 7/8/2005
No Import Tax and VAT on Spare Parts
Spare parts of a production line or synchronous equipment which are identified as fixed assets of an investment project will be exempted from import tax and value-added-tax (VAT), according to the document No. 5933/TC/TCHQ issued recently by the Ministry of Finance.
Enterprises that are subject to the Investment Encouragement Law and Foreign Investment in Vietnam Law will benefit from the changes.
Items such as bolt, bearings, fire-resistant bricks and mortar for building kilns, soldering sticks, and other imported small parts, are included in the list though they must have been imported in sufficient volume and category for the purpose of installing, connecting or controlling machines and equipment. In addition, these items must be included in the duty-free list approved by the relevant authorities (the Ministry of Planning and Investment or the provincial or municipal People's Committee for locally-invested projects and the Ministry of Trade or authorised agencies for foreign-invested projects).
Vietnamese
