New: Tariff Schedule for Special Preferential Import Duty Rates (VJEPA Tariff Rates)

Issued together with Decree 155/2017/ND-CP is the Special Preferential Import Tariff Schedule of Vietnam to implement the Agreement between the Socialist Republic of Vietnam and Japan for an Economic Partnership during 2018 - 2023 (the special preferential import tariff rate hereinafter referred to as VJEPA tax rate). Some specific contents on the VJEPA tax rate are as follows:

Illustrative image (source: internet)

- Explanatory notes and general rules for the classification of goods are implemented according to the List of Vietnam’s export and import goods based on the Harmonized System Description and Coding of goods by the World Customs Organization.- The columns “Commodity Code” and “Description of Goods” are built based on the List of Vietnam's export and import goods and detailed at the 8-digit or 10-digit code level.- Column “VJEPA Tax Rate (%)”: Tax rates apply for different periods, including:

- January 01, 2018 - March 31, 2018: Tax rates apply from January 01, 2018, to March 31, 2018;- April 01, 2018 - March 31, 2019: Tax rates apply from April 01, 2018, to March 31, 2019;- April 01, 2019 - March 31, 2020: Tax rates apply from April 01, 2019, to March 31, 2020;- April 01, 2020 - March 31, 2021: Tax rates apply from April 01, 2020, to March 31, 2021;- April 01, 2021 - March 31, 2022: Tax rates apply from April 01, 2021, to March 31, 2022;- April 01, 2022 - March 31, 2023: Tax rates apply from April 01, 2022, to March 31, 2023.- Indicating Imported goods not eligible for VJEPA tax rates at the respective time.

Particularly, for imported goods subject to tariff quotas, the special preferential import tax rate applies to the quantity of imported goods within the tariff quota as detailed in the Special Preferential Import Tariff Schedule of Vietnam to implement the Agreement between the Socialist Republic of Vietnam and Japan for an Economic Partnership during 2018 - 2023, issued together with this Decree. The import tax rate outside the quota applies according to the regulations of the Government of Vietnam at the time of import, the annual tariff quota quantity for imports is regulated by the Ministry of Industry and Trade.

Attention should be paid, that imported goods eligible for VJEPA tax rates must meet all the conditions stipulated in Decree 155/2017/ND-CP.

For goods from Vietnam’s non-tariff zones (including processed goods) imported into the domestic market eligible for VJEPA tax rates must meet the conditions stipulated in Clause 1, Article 4 of this Decree and possess a Certificate of Origin (C/O) form VJ as per current legal regulations.

More details can be found in: Decree 155/2017/ND-CP effective from January 01, 2018.

Thu Ba

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