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Import and export tariff schedule to implement CPTPP Agreement and tax refund process

On June 26, 2019, the Prime Minister approved Decree 57/2019/ND-CP promulgating the preferential export tariff and special preferential import tariff of Vietnam to implement the Comprehensive Partnership Agreement. And Trans-Pacific Progress – CPTPP (“CPTPP Preferential Tariff”). This tariff applies to the period from 14/01/2019 to 31/12/2022.

Vietnam’s CPTPP preferential tariff applies to exports and imports from countries of the CPTPP Agreement, including Australia, Canada, Japan, Mexico, New Zealand, and Singapore.

Decree 57/2019/ND-CP was issued on June 26, 2019 while the CPTPP Agreement came into effect in Vietnam from 14/01/2019 and therefore, lots of export and import goods were posted signing with the Customs from January 14, 2019, before the effective date of this Decree, if the conditions for using the preferential tax rates prescribed in the Decree are met, the tax refund may be considered.

Another noteworthy point in Decree 57/2019 / ND-CP is the application of preferential tax rates for export goods. Accordingly, to use preferential export tax, export goods must have transport documents and import declarations abroad, showing the destination of the goods as one of the member countries of the CPTPP Agreement.

At the time of export, if the goods are subject to tax, the exporter in Vietnam will declare the export declaration at the current standard export tax rate and pay the corresponding export tax to the Customs. Within one year from the date of registration of the export declaration, the exporter submits to the customs office a copy of the transport document and a copy of the overseas import declaration and additionally declares the export customs declaration to apply preferential export tax rates prescribed in the Decree. Customs authorities will check additional declarations and relevant documents to consider tax refund.

Decree 57 takes effect from the date of issuance, and the Customs will check the certificate of origin of the CPTPP form submitted by the importer to the imported goods into Vietnam to check the conditions for applying the tax rate import special incentives stipulated in the Decree.

PwC’s customs experts are ready to discuss with you your company about the plan to implement the CPTPP Agreement.

Via pwc

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