Tariffs on imported products including fruit and frozen foods from six member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be reduced to zero backdated to January 14 this year to 2022. (Photo: vneconomy.vn) Hanoi (VNA) - Tariffs on imported products including fruit and frozen foods fromsix member countries of the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) will be reduced to zero backdated to January14 this year to 2022.
This is part of theDecree No. 57/2019 signed recently by Prime Minister Nguyen Xuan Phuc,promulgating Vietnam’s preferential export tariffs and special preferentialimport tariffs to implement the CPTPP until December 31, 2022.
The decree isapplicable to Mexico, Japan, Singapore, New Zealand, Canada and Australia,where the CPTPP Agreement has come into effect.
A number of importtariffs on raw poultry, fresh or chilled fish, lignite, cotton fibre andfruit from Mexico will return to zero percent. The rest of the abovecountries will reduce import tariffs on fruit from 2020.
The decree alsostates that customs declarations of imported and exported goods registered fromJanuary 14 to date, if all conditions are met, will receive overpaid tax fromthe customs office according to regulations.
From now to 2022, theimport tax for frozen beef and buffalo, unsweetened milk and cream, andlamb from these countries will also be zero percent.
From 2021, cars usedto pull trailers with engines of 1,100cc or less will also beexempt from import tax.
The preferentialexport tariffs under the CPTPP include 519 tariff lines.
In order to enjoypreferential export tax rates, exported goods must have thecorrect documentation and import declarations expressing the destinationwithin the territory of the member countries where the CPTPP agreement hasentered into force.
Regarding the specialpreferential import tariffs under the CPTPP agreement, it consists of nearly11,000 tariff lines. The imported goods, including used cars, must meetrequired conditions for special preferential import tariffs.-VNA
VNA
