According to a circular recently issued by the Finance Ministry, concerning export and import tax rates, import tax rates include preferential tax rates, special preferential tax rates and ordinary tax rates.
Preferential tax rates apply to import goods originating from countries or associations of countries which have most-favored-nation agreements in trade relations with Vietnam. A preferential tax rate is set for each commodity item in the Preferential Import Tariff.
Special preferential tax rates apply to import goods originating from countries or associations of countries with which Vietnam has signed special import-tax preference agreements in line with free trade area or tariff cooperation regulations, or for creating favorable conditions for cross-border trade, and other cases of special preferential treatment. The special preferential tax rates shall be prescribed in the agreements.
Ordinary tax rates apply to import goods originating from countries or associations of countries with which Vietnam has neither most-favored-nation agreements nor special preference agreements. Ordinary tax rates are 50% higher than preferential tax rates.-