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ASEAN commodities to enjoy preferential import tax
The Finance Ministry has released a list of thousands of imports from ASEAN countries which will enjoy tax reduction during the 2008-13 period.
The move is made within the country’s commitment to implementing the Agreement on the Common Effective Preferential Tariff (CEPT) of ASEAN countries during the five-year period.
Thousands of goods imported from the Association of Southeast Asian Nations (ASEAN), including art works, antique, furniture, optical equipment, live animals and fruits and vegetables, will be subject to a tax rate of between 0-5 percent during the period.
Meanwhile, import taxes on a number of commodities will be reduced to 5 percent by 2013, including rice, eggs and pomeloes (from current 30 percent), and products meat (from current 40 percent).
VNA
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