On July 4, 2024, The Government promulgated Decree No. 81/2024/ND-CP to issue Vietnam's special preferential import tariff schedule to implement of ASEAN-Korea Trade in Goods Agreement for the period 2022-2027.
The Government promulgated Decree No. 81/2024/ND-CP to issue Vietnam's special preferential import tariff schedule to implement ASEAN-Korea Trade in Goods Agreement for the period 2022-2027
On July 4, 2024, The Government promulgated Decree No. 81/2024/ND-CP to issue Vietnam's special preferential import tariff schedule to implement of ASEAN-Korea Trade in Goods Agreement for the period 2022-2027.
The Trade in Goods Agreement under the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and Korea was signed by ASEAN countries and Korea on August 24, 2006 and ratified by Vietnam on October 30, 2006 and took effect. effective from June 1, 2007.
To implement Vietnam's commitment on import tax in the AKFTA Agreement, Vietnam has issued legal documents to implement the commitment. Most recently, the Government issued Decree No. 119/2022/ND-CP dated December 30, 2022 promulgating Vietnam's special preferential import tariff schedule to implement the ASEAN-Korea Trade in Goods Agreement. National period 2022-2027, effective from December 30, 2022. Protocol 3 (NĐT 3) amending the ASEAN-Korea Trade in Goods Agreement (AKFTA) was signed by ASEAN countries and Korea on November 22, 2015. On September 22, 2023, the Government issued Resolution 150/ND-CP approving the 3rd Protocol amending the ASEAN-Korea Trade in Goods Agreement.
Promulgation of Decree No. 81/2024/ND-CP amending and supplementing a number of articles of Decree No. 119/2022/ND-CP dated December 30, 2022 of the Government promulgating the Preferential Import Tariff Vietnam's special task to implement the ASEAN-Korea Trade in Goods Agreement for the period 2022-2027 is to implement Vietnam's commitment on import tax in the AKFTA Agreement, consistent with the List of exported goods. , imported from Vietnam according to the ASEAN Harmonized Tariff List (AHTN) 2022 prescribed in Circular No. 31/2022/TT-BTC dated June 8, 2022 of the Ministry of Finance.
The Decree is built on the basis of inheriting the contents specified in Decree No. 119/2022/ND-CP dated December 30, 2022, which only amends and supplements relevant provisions to implement tax commitments. in Decree 3, specifically as follows: Article 1: Amending and supplementing a number of articles of Decree No. 119/2022/ND-CP (Clause 1, Clause 3 and Clause 7, Article 3) to promulgate together with the Import Tariff Schedule special preferential imports and the List of goods applying special preferential import tax rates outside Vietnam's quota according to commitments in Investor 3, regulations on how to apply tax rates outside the quota; Article 2 stipulates implementation provisions: For goods imported and import customs declarations registered from November 28, 2023 to before the effective date of this Decree, in case they fully meet Conditions to enjoy AKFTA tax rates as prescribed in Decree No. 119/2022/ND-CP dated December 30, 2022 of the Government and have paid tax according to the tax rate in the Tax Schedule issued together with Decree No. 119 /2022/ND-CP dated December 30, 2022 and the tax paid is higher than the corresponding tax rate in the Tariff issued with this Decree, the customs authority will handle the overpaid tax according to regulations. provisions of law on tax administration.
Issued with 1 Appendix Tariff and 1 List of goods subject to out-of-quota tax, of which: (i) AKFTA Tariff promulgated together with this Decree includes more than 11,000 tariff lines and has about more than 2,000 lines Tax incentives have changes (most of which are changes based on the principle of reciprocity) compared to the current preferential rates in the AKFTA Tariff issued with Decree No. 119/2022/ND-CP dated March 30, 2020. December 2022; (ii) The list of goods subject to out-of-quota AKFTA tax rates includes the range of goods lines, some tax lines of group 17.01 (cane sugar, beet sugar), group 2501 (other types of salt) and outside tax rates. respective quota.
Regarding implementation effect, the Decree takes effect from the date of signing, which is July 4, 2024./.
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