2:06:43 PM | 10/5/2020
The Government recently issued Decree 111/2020/ND-CP on Vietnam’s preferential export tariffs and special preferential import tariffs to implement the EU - Vietnam Free Trade Agreement (EVFTA) in the 2020-2022 period.
Preferential export tariffs specified in Appendix I attached to the Decree include goods codes, description of goods, and preferential export tax rates for different stages to export countries prescribed in the trade deal, including the EU member states and the United Kingdom of Great Britain and Northern Ireland, for each goods code.
The decree specifies conditions for applying preferential export tariffs under the EVFTA Agreement. Accordingly, goods eligible for preferential export tariff rates shall have to satisfy the following conditions: Goods imported into territories under EVFTA; goods exported to EU member countries and the United Kingdom of Great Britain and Northern Ireland; being issued with customs declaration of export consignment originated from Vietnam.
To be eligible for special preferential import tariff rates under the EVFTA, imports shall have to meet the following conditions: Goods specified in the Appendix II attached to this Decree; imported into Vietnam from territories of the EU member states as prescribed in Appendix III attached to this Decree, the United Kingdom of Great Britain and Northern Ireland, the Principality of Andorra, the Republic of San Mario; and Vietnam (goods imported from non-tariff zones to the domestic market); and meeting all regulations on the origin of goods and having certificates of origin as prescribed under the EVFTA.
Thu Ha (Vietnam Business Forum)
Vietnamese
