Vietnam to Have New Import-Export Tariff Law

Vietnam to Have New Import-Export Tariff Law

The Ministry of Finance (MoF) will draft amended law on import-export taxes and submit to the National Assembly for consideration this year.

The MoF’s move was based on a report reviewing implementation of the import-export tariff law after 13 years with opinions contribution from the public.

The forthcoming amended law will be compiled on the orientation of further encouraging export.

Vietnam earned over US$26 billion from exports and spent US$31 billion on imports in 2004. It collected VND46,000 billion (US$2.9 billion) from import-export taxes to the state coffer last year.

• L.D