PROMULGATE SPECIAL PREFERENTIAL IMPORT TARIFF WITH GOODS FROM KOREA
On December 26, 2017, the Government issued Decree No. 149/2017/ND-CP on Vietnam’s Special Preferential Import Tariff to implement the ASEAN - Korea Free Trade Agreement (VKFTA) during 2018 - 2022.
The Tariff includes special preferential import duty rates for many kind of goods in different periods: From January 1, 2018, through December 31, 2018; From January 1, 2019, through December 31, 2019; From January 1, 2020, through December 31, 2020; From January 1, 2021, through December 31, 2021; and From January 1, 2022, through December 31, 2022.
To be eligible for VKFTA duty rates, imports must fully satisfy the following conditions: Being specified in the Special Preferential Import Tariff promulgated together with this Decree; Being imported from the Republic of Korea into Vietnam; Being transported directly from the Republic of Korea to Vietnam; Satisfying the rules of origin in the Vietnam-Korea Free Trade Agreement, and having a certificate of origin (C/O), form KV. To be eligible for VKFTA duty rates, goods (including processed goods) imported into the domestic market from non-tariff areas of Vietnam must be specified in this Special Preferential Import Tariff and have a certificate of origin (C/O) form KV.
This Decree takes effect on January 01, 2018; annuls Decree No. 131/2016/ND-CP dated September 01, 2016.
