On May 21, 2021, the
Government of Vietnam issued Decree No. 53/2021/ND-CP on preferential export
tariffs and special preferential import tariffs of Vietnam to implement the
Free Trade Agreement between the Vietnam and the United Kingdom of Great
Britain and Northern Ireland for the period 2021-2022 (“Decree No.
53/2021/ND-CP”).
Decree No.53/2021/ND-CP promulgating
the Preferential Export Tariff and the Special Preferential Import Tariff of
Vietnam to implement the Free Trade Agreement between the Socialist Republic of
Vietnam and the Union United Kingdom and Northern Ireland (UKVFTA) period 2021
– 2022 and conditions to enjoy preferential export tax rates,
special preferential import taxes under the UKVFTA. The specific tax rates for
each year of each item are specified in the appendices of that Decree.
Accordingly, in order to enjoy the preferential
export tax rate under the UKVFTA, goods exported from Vietnam that are eligible
for the preferential export tax rate specified in Decree No.53/2021/ND-CP must
meet the following conditions: (i) Being imported into the United Kingdom; (ii)
Having a transport document (copy) showing that the destination is the United
Kingdom; (iii) Having the import customs declaration of the export consignment
of Vietnamese origin imported into the United Kingdom (copy and translation in
English or Vietnamese in case the language is showed on the declaration is not
in English).
In addition, imported goods eligible for
special preferential import tax rates under the UKVFTA must fully satisfy the
following conditions: (i) Belonging to the special preferential import tariff
schedule specified in the Appendix II promulgated together with Decree
No.53/2021/ND-CP; (ii) Being imported into Vietnam from: The United Kingdom or
Vietnam (Goods imported from the free trade zone into the domestic market);
(iii) Meeting the regulations on origin of goods and have proof of origin
according to the provisions of the UKVFTA.
Information above are the provisions on the
import and export tariff of goods under the UKVFTA, goods import and export
enterprises need to pay attention to be able to apply the import preferential
tariff, in order to bring new business highest benefit for the business.
ANT Lawyers in an international trade dispute law
firm in Vietnam, recognized by Legal500, IFLR1000. We are an
exclusive Vietnam member of Prea Legal, the global law firm network covering
more than 150 jurisdictions. The firm provides a range of legal services to
multinational and domestic clients. For advice or services request, please
contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529
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