Vietnam - Cars imported from Japan enjoy lower tariffs

Many automobiles imported from Japan will enjoy lower import taxes, according to the new special preferential import tariffs announced by the Ministry of Finance in the implementation of the Asean-Japan Comprehensive Economic Partnership Agreement (AJCEF) in the 2012-2015 period.

Import tariffs levied on passenger vehicles and ambulances drop to 5 percent from 6 percent, while buses and minibuses are now subject to a mere 5 percent tax from the current 70 percent.

Many imported automobile spare parts also enjoy tax cut ranging from 3 to 22.5 percentage points.

The new import tariffs are only applicable to automobiles shipped directly from Japan to Vietnam, with proper certification of product origin.

Under the AJCEF, a number of other goods will also enjoy tax reduction for the next two to three years.

Taxes on electronic goods will be axed from 5 to 2.5 percent in 2014, and several types of digital cameras will even be free from the import tax.

Tariffs imposed on several garment items will be lowered from the current 13 percent to 11 percent, and 9 percent in 2013 and 2014, respectively.

Household items such as bathtubs, basins and kitchen utensils will also enjoy tax cuts from 19 percent in 2012 to 14 percent in 2014.

Tuoi Tre

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