August 15, 2018 11:48

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5,535 import tariff lines from EAEU cut down to 0%

09:46 | 23/01/2018

VCN – According to Decree No. 150/2017/NĐ-CP of the Government on issuance special preference import tariff of Vietnam – Euro Asian Economic Union (EAEU) and members country in the period 2018 – 2022 (Vietnam – EAEU FTA) till 2018, this import tariff list has 5,535 import tariff lines cut down to 0%. 

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Raw materials and textiles are one of the groups that has import tax rate of 0%. Photo: N.Huế.

According to the International Cooperation Department, Ministry of Finance, the tariff list of Vietnam-EAEU FTA for the period 2018-2022 includes 10,865 tariff lines, in that 10,771 specific tariff lines at the level of 8 digits and 94 tariff lines are detailed at the level of 10 digits.

In 2018, 5,535 tariff lines are to be cut down to 0%, focusing on groups items of input materials for export production such as textile materials, footwear and electronic components, plastic raw materials, fertilizers, corn, wheat, ...

Apart from 1,372 tariff lines that are not eligible for the special preferential import tariff rate of Vietnam-EAEU FTA due to the unconfirmed list, the remaining 3,720 tariff lines are still being gradually reduced to 0%, including: Milk and dairy products, chemicals and chemical products, automobile and spare parts for automobiles, paper of all kinds, steel and steel products, rubber products, household electrical appliances, ..

As the Vietnam-EAEU FTA rates have been gradually cut over years, the group of products that do not change their tariff rates compared to 2017 only include tariff lines in the unbound (1,372 tariff lines, equivalent to 12, 9% of total schedule for 2018-2022).

Specifically, the main categories are: pharmaceuticals, timber and wood products, automobile and parts, steel billets, chemical products, steel products, petroleum products, ...

The remaining 9,262 tariff lines (equivalent to 77% of the total schedule) are cut down on tax compared to 2017.

By H.Vân/Thanh Thuy