The Government has just issued Decree No. 131/2024/ND-CP on Vietnam's special preferential import tariff schedule to implement the Free Trade Agreement between the Government of the Socialist Republic of Vietnam and the Government of the State of Israel (VIFTA Agreement) for the period 2024-2027.
The Decree clearly states that Vietnam's special preferential import tariff schedule to implement the VIFTA Agreement for the period 2024 - 2027 (referred to as the Special Preferential Import Tariff Schedule).
The special preferential import tax schedule includes product codes, product descriptions, and special preferential import tax rates applicable to more than 11,000 product lines.
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| The Government issued Vietnam's special preferential import tariff schedule to implement the VIFTA Agreement for the 2024 - 2027 period. Photo: baochinhphu.vn |
Special preferential import tax rates for some goods in group 04.07 (bird eggs and poultry eggs, in shell, raw, preserved or cooked); 17.01 (cane or beet sugar and chemically pure sucrose, in solid form); 24.01 (unprocessed tobacco leaves; tobacco leaf waste); 25.01 (salt (including food salt and denatured salt) and pure sodium chloride, whether or not in aqueous solution or containing anti-caking agents or flow-enhancing agents; sea water) are only applied within tariff quotas; the list and annual import tariff quota quantity as prescribed by the Ministry of Industry and Trade and the import tax rate outside the quota is applied according to the provisions of the Export Tariff, Preferential Import Tariff, List of goods and absolute tax rates, mixed tax, import tax outside the tariff quota of the Government at the time of import.
The Decree stipulates that imported goods subject to special preferential import tax rates under the VIFTA Agreement must meet three conditions: Belonging to the Special Preferential Import Tariff Schedule (1); imported into Vietnam from Israel (2); and meeting the regulations on origin of goods and having documents certifying the origin of goods according to the provisions of the VIFTA Agreement and current regulations (3).
Goods imported from Vietnam's non-tariff zones into the domestic market that are subject to special preferential import tax rates under the VIFTA Agreement must meet all conditions (1) and (3) above.
This Decree takes effect from October 15, 2024 to December 31, 2027.
Previously, the VIFTA Agreement was signed on July 25, 2023 between the Minister of Industry and Trade of Vietnam and the Minister of Economy and Industry of Israel. The signing marked the results of the tireless efforts of both countries after 7 years with 12 negotiation sessions and is even more meaningful in the context that the two countries are carrying out many practical activities on the occasion of the 30th anniversary of establishing diplomatic relations.
The Agreement consists of 15 chapters and a number of appendices attached to the chapters with basic contents such as trade in goods, services - investment, rules of origin, technical barriers to trade (TBT), sanitary and phytosanitary measures (SPS), customs, trade defense, government procurement, legal - institutional.
Israel is the first country in West Asia with which Vietnam signed an FTA and Vietnam is also the first country in Southeast Asia with which Israel signed an FTA.
Source: https://congthuong.vn/chinh-phu-ban-hanh-bieu-thue-nhap-khau-uu-dai-dac-biet-cua-viet-nam-de-thuc-hien-hiep-dinh-vifta-352839.html
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