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Officially having the special preferential import-export tariff of Vietnam to implement EVFTA in the period 2020-2022

by Viglacera IP / Thursday, 24 September 2020 / Published in News

The Prime Minister has just signed Decree 111/2020 / ND-CP on Vietnam’s Preferential Export Tariff and Special Preferential Import Tariff to implement the Free Trade Agreement between the Socialist Republic of Vietnam and the European Union (EVFTA) for the period 2020-2022.

Preferential export tax rates specified in Appendix I issued together with Decree 111/2020 / ND-CP include product code, description of goods, and preferential export tax rates according to stages when exporting to territories under the EVFTA Agreement, including: member territories of the European Union; United Kingdom of Great Britain and Northern Ireland for each code.

The Decree specifies conditions for applying the preferential export tax rates under the EVFTA Agreement.

Accordingly, goods exported from Vietnam to be eligible for preferential export tax rates must satisfy the following conditions:

Be allowed to import into the territories under the EVFTA Agreement, including: member territories of the European Union, United Kingdom of Great Britain and Northern Ireland.

Have a transport document (copy) showing the destinations which are the territories specified in (a) above.

Having the import customs declaration of the export consignment of Vietnamese origin to be imported into the above-mentioned territories (copy of English or Vietnamese translation in case the language used on the declaration is not in English).

The Decree details Vietnam’s special preferential import tariff schedule to implement EVFTA in Appendix II of this Decree, including: product code, description of goods, import tax rate special offers in stages for the imported from the member territories of the European Union; United Kingdom of Great Britain and Northern Ireland; The Principality of Ando; The Republic of San Marino the Socialist Republic of Vietnam (the imported goods from non-tariff zones to the domestic market) for each product code.

Imported goods eligible for special preferential import tax rates under the EVFTA Agreement must meet the following conditions:

Belonging to the Special Preferential Import Tariff specified in Appendix II to this Decree.

Be imported into Vietnam from: member territories of the European Union specified in Appendix III to this Decree; United Kingdom of Great Britain and Northern Ireland; The Principality of Ando; Republic of San Marino; and the Socialist Republic of Vietnam (Goods imported from non-tariff zones to the domestic market).

Meet the requirements of origin of goods and have proof of origin in accordance with the provisions of the EVFTA Agreement.

Decree No. 111/2020 / ND-CP takes effect from September 18, 2020.

For customs declarations of exported and imported goods registered from August 1, 2020 to before September 18, 2020, if all requirements are met to enjoy preferential export tax rates, Vietnam’s preferential imports under Decree No. 111 and for which higher tax rates have been paid, shall be handled by the customs office for the overpaid tax.

Source: Financial Times

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