ASEAN-made products enjoy import duty cuts
VNGOP- The Ministry of Finance (MoF) just issued a new preferential import list to realize the Agreements on the Common Effective Preferential Tariff (CEPT) among ASEAN members in the period of 2008-13. The list is in validity for all customs statements since January 1, 2008.
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Various ASEAN-originated commodities enjoy import duty cuts down to 0-5%. |
Accordingly, the import tax rate of 0-5% will be applied to thousands of commodities belonging different groups, such as works of art, antiquities, collections, furniture, optical devices, clocks, photographical works, livestock, food and food stuff.
Some types of goods will be granted with a descending rate of import duties. For example, import levy for rice, vegetable and eggs will decrease from 30%, meat from 40% in 2008 down to 5% in 2013, sugar from 20% to 5%.
All types of commodities, to enjoy import duty incentives, must be imported into Việt Nam directly from ASEAN members. In addition, they are obliged to meet ASEAN requirements on origin (granted with C/O, form D).
By Kim Loan
