Monday, April 24 2017

VietNamNews

Many made-in-Cambodia goods to enjoy zero tax

Update: March, 17/2017 - 11:20
Rice is one of many goods made in Cambodia that will enjoy zero per cent tax in the Vietnamese market. — Photo tapchitaichinh.com.vn
Viet Nam News

HÀ NỘI – Many goods made in Cambodia will enjoy zero per cent tax in the Vietnamese market.

This is according to recently-issued Decree 24/2017/NĐ-CP on special preferential import tax to realise the Việt Nam-Cambodia trade promotion agreement signed in 2016. 

According to the decree, zero per cent tax will be applied to certain live poultry, fresh or frozen poultry meat, fresh and dried citrus fruits and rice, as well as bread, pastry, biscuits and some kinds of cakes, along with crackers, consecrated cake and soft gel shells. 

To be eligible for the zero per cent tariff, products must have certificate of origin in form S issued by Cambodia’s authorised agency and be transported through one of the 24 border gate pairs listed on the agreement. 

The decree also makes it clear rice and dried tobacco leaves will enjoy zero percent tax if they satisfy the above-mentioned conditions and the Ministry of Industry and Trade’s regulations on quota for 2016 and 2017. 

Normal tax rate will be applied to unprocessed farm produce, including rice and dried tobacco leaves, produced in Cambodia with the investment of Vietnamese enterprises. 

Meanwhile, agricultural products, including rice and dried tobacco leaves, imported by Vietnamese firms to re-export to other markets, will be regulated by temporary import-re-export policies of the Vietnamese Government and regional and international agreements to which both countries are members. — VNS

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