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Vietnam to reduce tax rates on many goods imported from RoK
From July 3, Vietnam will reduce tax rates for many goods imported from the Republic of Korea (RoK), including lamb, beef and pork up to 7-10 percent, milk products up to 10-15 percent and fish and fruit up to 15-20 percent.
This reduction follows the Ministry of Finance’s recent circular on Vietnam’s preferential import tariffs concerning the ASEAN-RoK Free Trade Area Agreement during 2010-2011 period.
To benefit from these preferential import tariffs, goods must be imported directly to Vietnam from nine of ASEAN’s members, including Brunei, Cambodia, Laos, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand.
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