VOV.VN - The Ministry of Finance has issued a decision in which a range of goods are exempt from import tax as part of activities aimed at dealing with the negative affects caused by the recent spread of the novel coronavirus (nCoV) epidemic.
The Ministry of Finance has recently sent Dispatch No.14813/BTC-CST to competent ministries and sectors, suggesting cutting import on chicken and pork products.
VOV.VN - Vietnam’s exports to Italy have enjoyed robust growth during the first eight months of the year, a sharp increase of up to 29.1 per cent in comparison to the country’s export growth of 8.1 per cent, according to the General Department of Vietnam Customs.
Deputy Prime Minister Vuong Dinh Hue has agreed with the Ministry of Finance’s proposal to exempt tax on imported goods of Emirates Airline.
Over 2,000 Honda cars from Thailand - the first batches of cars to enjoy zero percent import duty under the ASEAN Free Trade Agreement (AFTA) have been imported to Vietnam.
The Vietnamese government has just issued ten decrees to implement Vietnam’s special preferential import tax commitments made in its free trade agreements with various partners.
High import taxes on auto components and parts, packaging and logistics expenses are major reasons behind locally-assembled cars costing 10-20% higher than imports from Thailand and Indonesia.
Nearly 90% of tariff lines have been cut and reduced, with 59% abolished immediately as the Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) has taken effect since October 2016.
The State should eliminate price ceilings for milk products and control milk prices via input materials instead, experts said.
Import tax on 4,959 types of goods from the Eurasian Economic Union (EAEU) countries will be reduced to zero immediately when the free trade agreement (FTA) between Vietnam and the union takes effect this year.
VOV.VN - Automotive imports into Vietnam fell significantly in the first six months of 2016, according to data compiled by the General Statistics Office (GSO).
Thailand has become the leading exporter of automobiles to Vietnam in the first four months of this year, with 10,155 units, accounting for 35% of total car imports, according to the Vietnamese Ministry of Industry and Trade.
Thailand has become Vietnam’s leading automobile exporter in the first quarter of this year, with a volume of more than 7,800 units, a 64.5% increase compared with the same period last year.
Iron and steel used for tyre bead wire production will enjoy a preferential import tax rate of 0% t from May 2, the Ministry of Finance announced in a recent circular.
Automobiles which are priced higher in Vietnam than in regional countries is the reason for the sluggish development of the automobile industry, experts say.
Import tax on auto spare parts and components may be down to zero % next year, two years before schedule in 2018, under the ASEAN Free Trade Agreement (FTA).
The price of small imported cars may go down sharply in the next four years given the adjustment in taxes levied on them following the commitments of Vietnam to join multiple regional and international free trade agreements, local media reported, citing the information provided by the Tax Policy Department in a recent press meeting.
Minister of Trade Vu Huy Hoang fears the livestock industry will face the biggest challenge from the Trans-Pacific Partnership (TPP), which will eliminate import tax on meat that stands currently at 15-40%.
Prime Minister Nguyen Tan Dung has asked the Ministry of Finance and other relevant ministries to review tax policies and fix a new import tax rate for high-powered cars.
Vietnam based automobile manufacturers are deliberating continuing activities in manufacturing or shifting to importing CKD units before the deadline of 2018, when Vietnam fully opens its door to global trade by reducing import taxes to zero.