VN abolishes import tax on 3,200 Japanese products

Monday, Mar 30, 2015 15:51

A corner of Cho Lon Electronic Products Supermarket in HCM City. As of Apri 1, many Japanese products will be free from tax. — Photo

HA NOI (Biz Hub) — More than 3,200 Japanese products will be exempted from paying any import tax in Viet Nam from April 1, according to a new Finance Ministry circular.

The move is part of a commitment made by Viet Nam during the implementation of the ASEAN–Japan Comprehensive Economic Partnership Agreement (AJCEP) and the Viet Nam–Japan Economic Partnership Agreement (EPA) for the 2015 to 2019 period.

The exempted products include plastic materials, chemicals, machinery, tools, spare parts, computers, electronic products and components, all kinds of yarn, textile materials, leather shoes and pharmaceutical products.

It is expected that before 2019, many more Japanese products will be added to the list. The products are required to have a certificate of origin from the Ministry of Industry and Trade and from the other countries figuring on the list. — VNS

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