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Our bungee customer -Vietnam

Our bungee customer -Vietnam

The Vietnamese government recently released a five-year (January 1, 2018 to 2022-2023) Vietnam import tax preferential tax schedule. According to the table, tariffs on thousands of imported goods in Vietnam will be reduced to zero by 2018.


At present, Vietnam is fulfilling its commitments on the preferential tax on imported commodities in 10 free trade agreements, including: ASEAN, ASEAN-China (ACFTA), ASEAN-Korea, ASEAN-Japan, ASEAN-India, ASEAN- Australia- New Zealand, Vietnam - VJEPA, VKFTA, Vietnam - Chile and Vietnam - VN-EAEU FTA.


The above agreement supplements the provisions on the tax rate for quotas and the additional import duty on quotas and supplements the general rules on the classification of commodities in accordance with the "List of Import and Export Commodities of Vietnam" and the relevant annotations and the implementing rules.


According to the agreement on the preferential tariff rate for the Vietnam-Eurasian Economic Union Free Trade Area, 5,535 tariff items will be zero-tariffed by 2018 and 3,720 items will be reduced to zero tariffs by 2018, such as milk and dairy products, motor vehicles and their zeroes Accessories, steel and their products.


As for the agreement on preferential tariff rates for ASEAN China FTA, the tariffs from 5% and 10% to zero in 2018 include: chicken, coffee, raw tea, food processing, textile and garment, electrical and electronic equipment, etc.


As for the agreement on preferential tariff rates for Vietnam's FTA, a total of 456 tax items will be implemented in 2018 with zero tariffs, focusing on fat, sugar, machinery and equipment.


With regard to the agreement on the preferential tariff rate for the ASEAN Free Trade Area, Vietnam basically completed the reduction of the tariff of ASEAN in 2015 and will adopt a flexible tax rate for the remaining 7% of the tax items by 2018. The above commodities are mainly concentrated in the automobile, motorcycle and its spare parts, Vegetable oil, tropical fruits, refrigerators, air conditioners, dairy products and dairy products.

With the "Belt and Road Initiative", more and more friends are beginning to attach importance to the development of the Vietnamese market.

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