Tuesday, 31/03/2015 13:36

Many Japanese imports to enjoy zero percent tariff

A number of products imported from Japan to Vietnam will enjoy zero percent tariff beginning April 1, according to the Ministry of Finance (MOF).

Under the MoF’s newly-issued circular No 25/2015/TT-BTC, 3,234 tax lines, or 33.8 percent of the total, will be subject to the zero percent tariff, in implementing the Vietnam-Japan economic partnership agreement for the 2015-2019 period.

Besides, 354 products outside the preferential tariff policy will be taxed under the current Most Favoured Nation (MFN) level.

Products subject to the new tax rates include plastic materials, chemicals, machinery and equipment, tools, computers, electronic products and spare parts, fibres, textile and garment materials and accessories, footwear and pharmaceuticals.

Also as from April 1, 2,874 products from Japan (30 percent of the total tax lines) will be subject to the zero percent tariff under the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) from 2015-2019, according to the MoF’s Circular No 25/2015/TT-BTC.

In order to be included in the preferential tariff, the products should meet origin requirements in accordance with the MOF and the circular’s regulations.

vietnamnet
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