ShareGOOD NEW FOR VIETNAM – CHINA TRADERS IN 2022-2027 (ACFTA)
According to the latest updated information, the Ministry of Finance is implementing the policy of collecting comments on the draft Decree promulgating the special preferential import tariff of Vietnam to implement the ASEAN Trade in Goods Agreement – China period 2022-2027 (ACFTA).
According to the announcement, the effective date of the Decree is on December 1, 2022. If the Decree is passed, it means that 85.4% of the tariff lines in the ASEAN – China Agreement will be eliminated, and a series of goods will benefit.
That is the consequence of the agreement that ASEAN countries signed with China after the first period of 2018-2022. Because there is a change in the list from AHTN 2022 to AHTN 2027, the tariff schedule is also affected by changes in product codes and line separation.
For these product lines, the Ministry of Finance sets tax rates on the principle of not eroding international commitments specified in the HS conversion manual in the ACFTA Implementation Committee, and at the same time ensuring the feasibility. When conducting. The average tax rate (counting lines with tax rates) for the period 2023 – 2027 calculated on the total tax schedule issued by the Decree is about 3.05%”, said the Ministry of Finance.