Conditions for the applying Vietnam's special preferential import tariff schedule to implement the VIFTA for the period 2024-2027

Conditions for the applying Vietnam's special preferential import tariff schedule to implement the VIFTA for the period 2024-2027

Goods imported with the application of special preferential import tariff rates under the VIFTA must meet the specific conditions stipulated in Article 4 of Decree 131/2024/ND-CP, including:

- Belonging to the Special Preferential Import Tariff Schedule issued along with Decree 131/2024/ND-CP.

- Imported into Vietnam from Israel.

- Complying with the regulations on goods origin and accompanied by a certificate of origin as stipulated by the VIFTA and current regulations in Vietnam.

Note:

- The Special Preferential Import Tariff of Vietnam to implement the VIFTA for the period 2024 - 2027 includes item codes, goods descriptions, special preferential import tariff rates for different stages imported from the territory of Israel into Vietnam for each item code.

- The special preferential import tariff rate for certain items under groups 04.07; 17.01; 24.01; 25.01 is only applicable within the tariff quota; the list and annual tariff quota amount are as prescribed by the Ministry of Industry and Trade, and the out-of-quota import tariff rate is applied according to the Export Tariff, Preferential Import Tariff, List of Goods, and specific duties, mixed duties, out-of-quota import tariff of the Government of Vietnam at the time of import. (As per Clauses 1, 5 Article 3 of Decree 131/2024/ND-CP)

More details can be found in Decree 131/2024/ND-CP which comes into force in Vietnam from October 15, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE