This is a significant content in Circular 162/2007/TT-BTC guiding financial policies and customs procedures applied to the border-gate economic zone of An Giang province in Vietnam.
Goods imported into industrial and commercial park are not subject to excise tax in Vietnam (Illustrative image)
Circular 162/2007/TT-BTC provides regulations on special consumption tax policy for industrial and commercial park within the border-gate economic zone of An Giang province in Vietnam as follows:
- Goods and services subject to special consumption tax that are produced and consumed within industrial and commercial park are not subject to special consumption tax, including:
- Goods and services subject to special consumption tax that are produced, supplied, and consumed within industrial and commercial park;
- Goods from foreign countries imported into industrial and commercial park.- Particularly, cars with less than 24 seats from the domestic market imported into industrial and commercial park, from foreign countries imported into industrial and commercial park must pay special consumption tax according to the current general regulations.
- Goods and services subject to special consumption tax exported from industrial and commercial park to foreign countries are not subject to special consumption tax.
- Goods and services subject to special consumption tax imported from industrial and commercial park into the domestic market of Vietnam must pay special consumption tax on imported goods according to the current regulations.
- Goods subject to special consumption tax if borrowed, transited through the border gates of industrial and commercial park based on bilateral, multilateral agreements signed or sectors, localities approved by the Prime Minister of the Government of Vietnam, are not subject to special consumption tax.
Details can be found in Circular 162/2007/TT-BTC which comes into effect in Vietnam from January 29, 2008.
Ty Na
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