On February 14, 2015, the Minister of Finance issued Circular No. 25/2015/TT-BTC promulgating the Special Preferential Import Tariff of Vietnam to implement the Vietnam - Japan Economic Partnership Agreement. Version for the period 2015-2019 (VJEPA tax rate).
On the same day, the Ministry of Finance also issued Circular No. 24/2015/TT-BTC promulgating Vietnam's special preferential import tariffs to implement the ASEAN-Japan Comprehensive Economic Partnership Agreement for the period 2015- 2019.
As of April 1, 2015, for the ASEAN - Japan tariff, there will be 2874 tariff lines with the tax rate of 0% (equivalent to 30% of the total tariff). There are 413 tariff lines with no commitment to cut, the applicable tax rate will be according to the preferential tax rate under the most-favored nation (MFN) status at the current time.
For the Vietnam - Japan schedule, there will be 3234 tax lines with 0% tax rate (equivalent to 33.8% of the total tariff) and 354 tariff lines with no commitment to cut, the applied tax rates will be according to the tax rate. MFN at the current time.
Tax lines with the tax rate of 0% as of April 1, 2015 focus on commodity groups: Plastic raw materials, chemicals, machinery and equipment, tools, spare parts, computers, electrical products electronics, components, yarns of all kinds, textile raw materials, footwear, modern pharmaceutical products...
Imported goods to be eligible for VJEPA tax rate must meet all 4 conditions.
The first is under the Special Preferential Import Tariff promulgated together with Circular No. 25/2015/TT-BTC.
The second is imported from Japan into Vietnam.
The third is to be transported directly from Japan to Vietnam, according to the regulations of the Ministry of Industry and Trade.
The fourth is to satisfy the regulations on origin of goods in the Vietnam - Japan Economic Partnership Agreement, to have a Certificate of Origin of goods from Vietnam - Japan, form VJ (abbreviated as C/O - form VJ). ) according to regulations of the Ministry of Industry and Trade.
Circular No. 25/2015/TT-BTC takes effect from April 1, 2015, replacing Circular No. 21/2012/TT-BTC dated February 15, 2012 of the Minister of Finance on the issuance of the Schedule. Vietnam's special preferential import tax for the implementation of the Vietnam - Japan Economic Partnership Agreement for the period 2012-2015 and Circular 63/2012/TT-BTC dated April 23, 2012 of the Minister of Finance .
Phuong Diem
"Source: General Department of Customs
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