What is the special preferential import tax rate on goods in Vietnam?

What is the special preferential import tax rate on goods in Vietnam?

Based on the provisions of Clause 3, Article 5 of the Law on Export and Import Taxes 2016 as follows:

Basis for calculating export and import taxes for goods applying the taxation method according to percentage rates

1. The amount of export and import tax is determined based on the taxable value and the percentage tax rate (%) of each item at the time of tax calculation.

2. The tax rate for exported goods is specifically prescribed for each item in the export tax schedule.

In case goods are exported to a country, group of countries, or territory that has preferential agreements on export taxes in trade relations with Vietnam, they shall comply with these agreements.

3. The tax rate for imported goods includes preferential tax rates, special preferential tax rates, common tax rates, and is applied as follows:

a) Preferential tax rates apply to imported goods originating from a country, group of countries, or territory implementing the most favored nation treatment in trade relations with Vietnam; goods from non-tariff zones imported into the domestic market meeting the origin conditions from a country, group of countries, or territory implementing the most favored nation treatment in trade relations with Vietnam;

b) Special preferential tax rates apply to imported goods originating from a country, group of countries, or territory that has special preferential agreements on import taxes in trade relations with Vietnam; goods from non-tariff zones imported into the domestic market meeting the origin conditions from a country, group of countries, or territory that has special preferential agreements on import taxes in trade relations with Vietnam;

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Therefore, according to the regulations, the special preferential import tax rate is one of the forms used to calculate the tax rate on imported goods.

In addition, the special preferential import tax rate applies to imported goods originating from countries, groups of countries, or territories that have special preferential agreements on import taxes in trade relations with Vietnam.

Furthermore, the special preferential import tax rate also applies to goods from non-tariff zones imported into the domestic market meeting the origin conditions from countries, groups of countries, or territories that have special preferential agreements on import taxes in trade relations with Vietnam.

What is the special preferential import tax rate on goods in Vietnam? (Image from the Internet)

When is the time for calculating taxes on exported and imported goods in Vietnam?

Based on the provisions of Article 8 of the Law on Export and Import Taxes 2016 as follows:

Taxable value and time for tax calculation

1. The taxable value for export and import taxes is the customs value as prescribed by the Customs Law.

2. The time for calculating export and import taxes is the time of registration of the customs declaration.

For goods exported or imported falling under categories not subject to tax, exempted from export or import taxes, or applying a specific tax rate within quota limits but subject to changes regarding non-taxable status, tax exemption, applying a specific tax rate within quota limits according to the provisions of law, the time for tax calculation is the time of registration of the new customs declaration.

The time for registering the customs declaration is implemented according to the provisions of the customs law.

Therefore, the time for calculating taxes on exported and imported goods is the time of registration of the customs declaration.

What are the regulations on the deadline for paying export and import taxes in Vietnam?

Based on the provisions of Article 9 of the Law on Export and Import Taxes 2016 as follows:

- Goods subject to export and import taxes must be paid before customs clearance or release of goods as prescribed by the Customs Law, except for cases specified in Clause 2, Article 9 of the Law on Export and Import Taxes 2016.

In case a credit institution guarantees the tax amount payable, the goods can be cleared or released but the overdue tax amount must be paid according to the provisions of the Law on Tax Administration from the date of customs clearance or release until the tax is paid.

The maximum guarantee period is 30 days from the date of registration of the customs declaration.

In case a credit institution guarantees the tax but the guarantee period expires without the taxpayer paying the tax and the overdue amount, the guaranteeing organization is responsible for paying the full tax and overdue amount on behalf of the taxpayer.

- Taxpayers eligible for priority policies as prescribed by the Customs Law shall pay taxes for the customs declarations cleared or released in the month no later than the tenth day of the following month.

If this deadline is exceeded without the taxpayer paying the tax, the taxpayer must pay the full overdue tax amount and the overdue amount according to the provisions of the Law on Tax Administration.