Deputy Prime Minister Nguyen Xuan Phuc has just issued a written directive to agree with the proposal of the Ministry of Industry and Trade on continuing to extend the application of the Agreement between the Government of Vietnam and the Government of Laos on preferential tax rates. Import Tax.
The Deputy Prime Minister assigned the Ministry of Industry and Trade to carry out the prescribed procedures.
The Agreement between the Governments of the two countries on goods eligible for preferential import tax rates between Vietnam and Laos was first signed in 2011, extended for 2012, 2013, 2014 and expired on December 31, 2014. In particular, basically, Vietnam and Laos have applied a preferential import tax of 0% for about 95% of goods originating from the two countries.
In addition, Vietnam applies a tariff-rate quota mechanism for tobacco leaves (3,000 tons/year) and rice (7,000 tons/year) imported from Laos into Vietnam with a tax rate within the quota of 0%.
In a report to the Government, the Ministry of Industry and Trade said that in 2014, the Lao side repeatedly asked the Vietnamese side to consider and apply tariff quotas to Laos' sugar products imported into Vietnam with the tax rate of 0%. within the quota and add this incentive to the Agreement.
While waiting for the Government's direction, this Ministry has sent a document to the Ministry of Finance to create favorable conditions for Lao enterprises to export rice to Vietnam to continue to enjoy the incentives in the Agreement previously signed between the two countries. two countries.
P.D
source: General Department of Customs
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