APPLYING PREFERENTIAL IMPORT TARIFF FOR IMPORTS FROM KOREA
On December 16, 2015, the Ministry issued the Circular No. 201/2015/TT-BTC promulgating Vietnam’s Special Preferential Import Tariff for implementation of the Vietnam-Republic of Korea Free Trade Agreement during 2015-2018.
Accordingly, in 2016 - 2018, many goods imported from Korea shall be applied duty rate of 0%. To be eligible for the Vietnam-Korea Free Trade Agreement duty rates, imports must be imported from Korea to Vietnam; Being specified in the Special Preferential Import Tariff; Being transported directly from Korea to Vietnam under the Ministry of Industry and Trade’s regulations; Complying with the rules of origin of goods in the Vietnam-Korea Free Trade Agreement and having a KV certificate of origin (abbreviated to C/O KV) as required by the Ministry of Industry and Trade.
This Circular takes effect on December 20, 2015.
