Conditions for the Application of AKFTA Tax Rates

Le Hai

14:31, 11/07/2024

the Government of Vietnam has just promulgated Decree 157/2017/ND-CP on Vietnam’s special preferential import tariff schedule to implement the ASEAN - Korea Trade in Goods Agreement for the period of 2018 - 2022.

for imported goods to apply the AKFTA tax rate must meet the following conditions:

- Belong to the Special Preferential Import Tariff issued together with this Decree.- Imported into Vietnam from member countries of the ASEAN-Korea Trade in Goods Agreement, including the following countries:- Brunei Darussalam, denoted as BN;- Kingdom of Cambodia, denoted as KH;- Republic of Indonesia, denoted as ID;- Lao People's Democratic Republic, denoted as LA;- Malaysia, denoted as MY;- Republic of the Union of Myanmar, denoted as MM;- Republic of the Philippines, denoted as PH;- Republic of Singapore, denoted as SG;- Kingdom of Thailand, denoted as TH;- Republic of Korea (South Korea), denoted as KR;- Socialist Republic of Vietnam (goods imported from the non-tariff zone into the domestic market), denoted as VN.- Directly transported from the exporting country according to Clause 2, Article 4 of Decree 157/2017/ND-CP to Vietnam as regulated by the Ministry of Industry and Trade.- Comply with the rules of origin in the ASEAN-Korea Trade in Goods Agreement, with a Certificate of Origin (C/O) form AK, in accordance with current legal regulations.

Details of the attached appendix can be seen at Decree 157/2017/ND-CP, effective from January 01, 2018.

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