Tariff for implementation of AIFTA: Vietnam to eliminate 65% of import tariff lines

Tariff for implementation of AIFTA: Vietnam to eliminate 65% of import tariff lines

VCN - Implementing tax reduction under the ASEAN - India Trade in Goods Agreement (AIFTA) for the 2022 – 2027 period, from December 31, 2021, all tariff lines in Vietnam's Normal Track (NT) reduced to 0%, tariff lines of all items subject to Sensitive Tr
Finding a solution for self-control of raw materials for the rubber - plastic industry

Finding a solution for self-control of raw materials for the rubber - plastic industry

VCN - Mr. Tran Anh Hao, Head of Industrial Management Department, Ho Chi Minh City Department of Industry and Trade, said that the rubber-plastic industry is one of the four key industries encouraged by HCMC to develop.
Changes in manifest declaration for imported goods

Changes in manifest declaration for imported goods

VCN - Recently, the Customs sector has launched the system of declaration, receipt, inspection and confirmation of the e-manifest of imported goods.
From April 20, businesses make a manifest of cargo through the land border gate via an electronic system

From April 20, businesses make a manifest of cargo through the land border gate via an electronic system

From April 20, 2023, instead of making declarations with paper documents, businesses carrying out procedures through land and inland waterway border gates will make an electronic manifest
Order and procedures for inspection after tax refund

Order and procedures for inspection after tax refund

VCN - According to regulations, the order, procedures and time limit for inspection after tax refund are similar to those for post-customs clearance inspection at the taxpayer's office.
Special preferential import tariff for the implementation of ACFTA: The average tax rate for the period 2023 - 2027 is about 3.05%

Special preferential import tariff for the implementation of ACFTA: The average tax rate for the period 2023 - 2027 is about 3.05%

VCN - Agreement on Trade in Goods under the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and China (hereinafter referred to as the ACFTA Agreement for short), signed on November 29, 2004, in Laos and a Memorandum of Understandin
Government agrees with MoF’s proposal on 2% VAT reduction

Government agrees with MoF’s proposal on 2% VAT reduction

VCN - On April 17, the Government Office sent a dispatch to the Minister of Finance on the plan to reduce taxes, fees and charges for 2023.
Who is eligible for tax and land rent extension in 2023?

Who is eligible for tax and land rent extension in 2023?

VCN - Decree 12/2023/ND-CP dated April 14, 2023 of the Government extending the deadline for payment of value-added tax, corporate income tax, personal income tax and land rent in 2023 stipulates subjects and procedures for a tax payment extension.
Which case has not been inspected after customs clearance?

Which case has not been inspected after customs clearance?

VCN - Post-clearance audits have not been conducted as planned for unnecessary cases to create favorable conditions for enterprises.
Revising Circular 16: More positive impact on corporate bond market

Revising Circular 16: More positive impact on corporate bond market

VCN - According to the State Bank of Vietnam (SBV), the results of inspection and supervision of the trading of corporate bonds by credit institutions have shown number of potential problems, so it is necessary to revise regulations to strictly control ri
Preferential Import and Export Tariffs for implementation of UKVFTA: boost trade and investment relations between two sides

Preferential Import and Export Tariffs for implementation of UKVFTA: boost trade and investment relations between two sides

VCN - In 2023 as well as in the coming years, the promulgation of Decree No. 117/2022/ND-CP promulgating the Preferential Export Tariff and Special Preferential Import Tariff of Vietnam to implement the Free Trade Agreement between Vietnam and the United
Enterprises pay attention to list of goods subject to exemption from specialized inspection

Enterprises pay attention to list of goods subject to exemption from specialized inspection

VCN - The management measures for import goods are only applied once in the Customs control area.
Removing shortcomings in management for e-stamp labelling on tobacco and alcohol products

Removing shortcomings in management for e-stamp labelling on tobacco and alcohol products

VCN - If the alcohol only has the year of production, without the production date, the customs declarant will update the real-time. The implementation time is from April 20, 2023.
MoF proposes to reduce by 2% VAT rate in 2023

MoF proposes to reduce by 2% VAT rate in 2023

VCN- The option 1, the Ministry proposes to reduce the 2% VAT rate for goods and services subject to a 10% tax rate to 8%.
Enterprises "wait" for the list of specialized inspection exemptions

Enterprises "wait" for the list of specialized inspection exemptions

At the dialogue conference, the issue of the specialized inspection concerned many businesses, especially the list of goods exempted from specialized inspection.
Customs will upgrade Tax exemption, reduction and refund systems to ensure effective performance

Customs will upgrade Tax exemption, reduction and refund systems to ensure effective performance

The General Department of Vietnam Customs said that they had reviewed the overall functions and professional problems to upgrade the Tax exemption, reduction and refund system
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Reporting to the National Assembly for considering VAT reduction in the second half of 2024

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report to National Assembly for consideration and allowing to implementing in the second half of 2024.
The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

VCN - The Ministry of Health, according to its assigned functions, tasks and authority, presides and coordinates with the Ministry of Finance and relevant agencies to urgently review, research, amend and complete the Ministry's regulations on import and e
No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

The Ministry of Finance has responded to the suggestions of VAMA regarding the adjustment of reducing automobile volume to apply a tax rate of 0% for imported components and spare parts used for manufacturing automobile
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

VCN - Enterprises exporting cinnamon essential oil are facing difficulties due to regulations on pharmaceutical trading of the Ministry of Health, leading to hundreds of tons of essential oil being left in stock in raw material areas.
Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

The Ministry of Trade and Industry issued Circular 05/2024/TT-BCT regulating the temporary suspension of temporary import and re-export of Monazite ores and ore concentrates business.
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