VN grants tax incentives on agro-imports from Cambodia
VNGOP – The Ministry of Finance just proclaimed the list of Cambodia-originated agricultural products into Việt Nam which will be granted with a special import tax rate of 0%.
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Accordingly, imports enjoying the tax rate of 0% must have Cambodian certificates of origin (C/O) as stipulated by the Vietnamese Ministry of Industry and Trade (MIT) and must experience customs clearance at the couples of border-gates agreed by the MIT and the Cambodia Ministry of Trade.
Rice, if imported in a quantity exceeding the regulation, will be applied with a common effective preferential tariff (CEPT) rate, a most-favored nation (MFN) status or a general import tax rate.
Cambodia-originated rice and dry tobacco leaves imported by Vietnamese businesses to export to other markets will be treated under the temporary import and re-export mechanism.
A tax rate of 0% will be also given to unprocessed agro-products (excluding rice and dry tobacco leaves) cultivated in Cambodia’s provinces bordering Việt Nam under the projects invested by Vietnamese enterprises if they are used as materials for production in Việt Nam, as stipulated in List I issued attached to Circular 61/2006/TT-BTC of the Ministry of Finance.
By Hoàng Phương
