Deputy PM: Import tariff cut under FTAs commitment
Ministries, sectors, and localities need to seriously realise the
country’s commitment to import tax reduction as agreed in signed Free
Trade Agreements (FTAs) in the 2015-2018 period.
Ministries, sectors, and localities need to seriously realise the
country’s commitment to import tax reduction as agreed in signed Free
Trade Agreements (FTAs) in the 2015-2018 period.
The request was recently made by Deputy Prime Minister Vu Van Ninh as suggested by the Ministry of Finance (MoF).
The leader asked the ministries, agencies, and localities to proactively take necessary measures to ensure the implementation.
According to the MoF, Vietnam has signed eight FTAs bilaterally and multilaterally, with most of which requiring the cut of about 90 percent of tariff lines on average.
The duty on items that are in need for the domestic production will be cut first while that on sensitive goods with high tax rates will be reduced later.
It is expected that about 90-97 percent of tariff lines will be cut to zero by 2020.-VNA
The request was recently made by Deputy Prime Minister Vu Van Ninh as suggested by the Ministry of Finance (MoF).
The leader asked the ministries, agencies, and localities to proactively take necessary measures to ensure the implementation.
According to the MoF, Vietnam has signed eight FTAs bilaterally and multilaterally, with most of which requiring the cut of about 90 percent of tariff lines on average.
The duty on items that are in need for the domestic production will be cut first while that on sensitive goods with high tax rates will be reduced later.
It is expected that about 90-97 percent of tariff lines will be cut to zero by 2020.-VNA
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