Circular No. 01/2016/TT-BCT dated January 05, 2016 of the Ministry of Industry and Trade Prescribing the import of unmanufactured tobacco under 2016 tariff quota

Quantity of unmanufactured tobacco imported in 2016 is 48,620 tons

This content is regulated under the Ministry of Industry and Trade’s Circular No. 01/2016/TT-BCT dated January 05, 2016 prescribing the import of unmanufactured tobacco under 2016 tariff quota.

Specifically, the quantity of unmanufactured tobacco (HS Code 2401) imported under 2016 tariff quota is 48,620 tons, increasing by 2,315 tons compared with that of 2015; Import tariff quota is not applicable to unmanufactured tobacco originated from ASEAN countries. Unmanufactured tobacco import tariff quota shall be allocated to traders licensed for cigarette production by the Ministry of Industry and Trade that have the demand to use a specific rate of imported unmanufactured tobacco for cigarette production as certified by the Ministry of Industry and Trade.

This Circular takes effect from January 5, 2016, through December 31, 2016.

Applying preferential import tariff for imports from Korea

On December 16, 2015, the Ministry issued the Circular No. 201/2015/TT-BTC promulgating Vietnam’s Special Preferential Import Tariff for implementation of the Vietnam-Republic of Korea Free Trade Agreement during 2015-2018.

Accordingly, in 2016 - 2018, many goods imported from Korea shall be applied duty rate of 0%.

To be eligible for the Vietnam-Korea Free Trade Agreement duty rates, imports must be imported from Korea to Vietnam; Being specified in the Special Preferential Import Tariff; Being transported directly from Korea to Vietnam under the Ministry of Industry and Trade’s regulations; Complying with the rules of origin of goods in the Vietnam-Korea Free Trade Agreement and having a KV certificate of origin (abbreviated to C/O KV) as required by the Ministry of Industry and Trade.