Many imported items from Cambodia to receive 0% tax
Brown rice is one of the items that applied 0% of tax. Source: Internet |
Accordingly, the main items proposed by the Ministry of Finance to have preferential import tariff, such as live poultry; Meat and by-products after slaughtering of poultry; fruit that is the same line of citrus fruit, fresh or dried; rice; meat, by-product in kind of meat or blood offal, prepared or preserved; unprocessed tobacco; scraps of tobacco; two-wheeled bikes and other bikes (including cargo cyclo-tricycle), without engine, etc.
In particular, rice and dried tobacco leaves will only receive preferential tariff in duty quota which equivalent of 300,000 tons and 3,000 tons in 2017. The quota from 2018 onwards will be agreed to continue later.
Regarding the conditions to receive special offers of 0%, the draft Decree stated clearly that: Import goods which have origin from Cambodia and named in the list of goods attracting the special tax rate for preferential import tariff of 0% must have a certificate of origin form S (C/O form S) granted by the competent authorities of the Kingdom of Cambodia; and clearance through the indicated gates mentioned in the Agreement between the two Governments.
For rice, in the case of importing more than the prescribed quotas, the imported quantity exceeding the quota will attract a special tax rate for preferential import tariff ATIGA (Agreement on Trade in Goods of ASEAN) issued in Decree No. 129/2016/ND-CP of the Government or enjoy Most Favoured Nation (MFN) status in accordance with current regulations.
For dried tobacco products, in the case of importing more than prescribed quotas and the imported quantities are less than the total quota of the country and to ensure the conditions stipulated in the normative documents of Vietnam's law on tariff quotas, the imported quantities in excess of the quota will attract the preferential import tax rate (MFN).
Moreover, on October 26th 2016, representatives of the two Governments signed an agreement to promote bilateral trade between the Government of the Socialist Republic of Vietnam and the Royal Government of Cambodia.
Under this Agreement, Vietnam shall enjoy the import tax rate of 0% which applies to 29 items being imported into the Cambodian market included milk and cream, tapioca, meat products and preparations from rice , candy, paint, plastics, paper, ceramics, steel and steel products.
In contrast, Vietnam will apply the preferential import tax rate of 0% for 39 items of Cambodian goods, mostly agricultural materials that facilitate Vietnamese export enterprises to carry out their export contracts to other countries.
The agreement to promote bilateral trade between Vietnam-Cambodia is expected to push the development of trade relations between the two countries, including trade in agricultural, fishery and industrial products with the aim of improving the lives of people, especially people living in border areas, and contributing to the sustainable economic development of each country, based on the principle of equality and mutual benefit.
Related News
Public private partnership task force on rice established
20:27 | 01/04/2023 Import-Export
Vietnam expected to export 7 million tonnes of rice this year: Ministry
13:35 | 30/03/2023 Import-Export
2023 set to be favourable for Vietnamese rice enterprises
14:21 | 28/03/2023 Import-Export
Vietnam beefs up defence cooperation with Laos, Cambodia
15:35 | 21/03/2023 Headlines
Latest News
Enterprises have the right to pre-determine HS codes
09:55 | 06/04/2023 Regulations
Amendment to Decree 14 to prevent goods congestion at border gates
11:39 | 01/04/2023 Regulations
Notes for businesses on tax policy
13:44 | 31/03/2023 Regulations
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development
13:43 | 27/03/2023 Regulations
More News
Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement
09:33 | 26/03/2023 Regulations
Difficulties in determining samples for testing
09:32 | 26/03/2023 Regulations
GDVC instructs application of C/O form D
10:16 | 25/03/2023 Regulations
Goods imported from export processing enterprises must pay tax
09:03 | 24/03/2023 Regulations
Review, perfect regulations on decentralization of public property management
11:55 | 22/03/2023 Regulations
MoF develops excise tax policy to promote electric vehicle production
17:21 | 13/03/2023 Regulations
Enterprises must submit dossiers and documents to identify authenticity of goods' value
10:09 | 13/03/2023 Regulations
Removing difficulties in the implementation of VAT policy
15:10 | 27/02/2023 Regulations
Correcting policy to avoid overlaps in inspection and supervision at land border gates
14:13 | 26/02/2023 Regulations
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Enterprises have the right to pre-determine HS codes
09:55 | 06/04/2023 Regulations
Amendment to Decree 14 to prevent goods congestion at border gates
11:39 | 01/04/2023 Regulations
Notes for businesses on tax policy
13:44 | 31/03/2023 Regulations
Revising Law on Corporate Income Tax: Promoting resources for socio-economic development
13:43 | 27/03/2023 Regulations
Apply 609 preferential export tax lines, 11,526 special preferential import tax lines to implement the CPTPP Agreement
09:33 | 26/03/2023 Regulations