The Ministry of Finance has issued Circular 201/2015 / TT-BTC on Vietnam's special preferential import tariffs for the implementation of the Vietnam-South Korea Free Trade Agreement (VKFTA) 2015-2015.
Many Vietnamese items are cleared tariffs when exported to Korea. Illustration.
Imported goods eligible for the preferential tax rate of VKFTA must satisfy four basic conditions, including: the VKFTA tariff; Imported from Korea into Vietnam; Directly shipped from Korea into Vietnam according to the regulations of the Ministry of Industry and Trade; Meet the requirements of origin of goods under the Vietnam-Korea Free Trade Agreement; Having a certificate of origin under the regulations of the Ministry of Industry and Trade.
Goods imported from the non-tariff zone (including processing goods) into the domestic market in order to be eligible for the VKFTA tax rate must belong to the VKFTA tariff and have certificates of origin under the regulations of the Ministry of Industry and Trade. C / O VK).
Goods produced in the Kaicheng Industrial Zone in the Democratic People's Republic of Korea (GIC goods) re-imported into Korea and then exported to Vietnam are also entitled to preferential tax rates if they belong to the commodity category. GIC symbol in the VKFTA tariff; Imported and transported directly from Korea into Vietnam according to the regulations of the Ministry of Industry and Trade; Meet the rules of origin for special goods in the VKFTA; C / O KV has the words "Article 3.5" in box No. 8 issued by Korea Customs.
Earlier, according to a representative of the Ministry of Finance on the VKFTA tariff, Korea will open 500 more items, bringing the total tariff lines to 11,600 tariff lines (95.4% of total tariffs). ). Especially, there are many groups of key agricultural and seafood exporters of Vietnam such as shrimp, crabs, fish, tropical fruits, agricultural products and industrial goods such as textiles, furniture, mechanical products.
A number of textile and garment products exported from Vietnam to Korea will be eliminated in full in the first year of implementation of the Agreement.
In particular, Vietnam is the first FTA partner to be opened by the ROK, eliminating tariffs that have a roadmap for sensitive domestic products such as fresh fruits and processed products (a tax rate of around 30% To 50%); Some tropical fruits and vegetables, especially garlic, ginger, honey, sweet potatoes, red beans ... (These tariffs are very high, ranging from 241 to 420 percent, due to their special sensitivity to Korea). .
Vietnam's textile and footwear exports to Korea will also be removed from 10-13% to 0% by 2016. Shrimp exports to Vietnam will be subject to a tax rate of 0% With 10,000 tons / year and gradually increase in 5 years to 15,000 tons / year.
Consumer goods (cosmetics), home appliances (air conditioners, refrigerators, microwave ovens, ovens ...) will also be cut tariffs with a roadmap of 7 to 10 years.
Regarding import tariffs, Vietnam has pledged to open up more with 200 tariff lines over the 15-year roadmap, accounting for 5.9 percent of total imports, contributing to the increase in tariff lines committed to tariff reductions. With South Korea's 8,520 tariff lines.
List of 200 commodities pledged to open bilaterally with Korea mainly with industrial products such as textile and garment materials; Plastic materials, electronic components, auto parts, electrical appliances, some steel products, electric cables, trucks of 10-20 tons and cars of 3,000cc or more ...
Most of these are raw materials that need to be imported for domestic production, contributing to lower production inputs and reducing reliance on imports from some other countries. This is one of the orientations for economic restructuring and one of the goals of Vietnam when signing this FTA.
The signing of the Vietnam-South Korea FTA is considered as a concrete step towards the implementation of active integration strategies, in which international economic integration is the focus, supporting the process of restructuring, implementation At the same time, actively contributing to the development of a long-term strategic partnership between Vietnam and Korea, contributing to maintaining and strengthening the peaceful environment, Stable in the area.
(Internet source)