Circular No. 162/2011/TT-BTC dated November 17, 2011 of the Ministry of Finance promulgating Vietnam’s Special Preferential Import Tariff to realize the ASEAN-China Free Trade Area during 2012-2014

THE MINISTRY OF FINANCE

Circular No. 162/2011/TT-BTC of November 17, 2011, promulgating Vietnam’s Special Preferential Import Tariff to realize the ASEAN-China Free Trade Area during 2012-2014

Pursuant to June 14, 2005 Law No. 45/2005/QH11 on Export Duty and Import Duty;

Pursuant to the Government’s Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Government’s Decree No. 87/2010/ND-CP of August 13, 2010, detailing the implementation of June 14, 2005 Law No. 45/2005/QH11 on Export Duty and Import Duty;

Pursuant to the Framework Agreement on Comprehensive Economic Cooperation between the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China (below referred to as China), which was concluded on November 4, 2002, in Cambodia and ratified by the President of the Socialist Republic of Vietnam in Decision No. 890/2003/QD-CTN of November 26, 2003;

Pursuant to the Agreement on Trade in Goods under the Framework Agreement on ASEAN-China Comprehensive Economic Cooperation (below referred to as the ASEAN-China Agreement on Trade in Goods), which was concluded on November 29, 2004, in Lao People’s Democratic Republic, and the Vietnam-China Memorandum of Understanding on a number of issues in the ASEAN-China Agreement on Trade in Goods, which was concluded on July 18, 2005, in China, and ratified by the Prime Minister of the Socialist Republic of Vietnam in Decision No. 257/2005/QD-TTg of October 19, 2005;

The Ministry of Finance promulgates a circular on Vietnam’s Special Preferential Import Tariff to realize the ASEAN-China Free Trade Area as follows:

Article 1. To promulgate together with this Circular Vietnam’s Special Preferential Import Tariff to realize the ASEAN-China Free Trade Area during 2012-2014 (applicable duty rates are referred to as ACFTA duty rates).

In which:

+ Column “Goods heading” and column “Goods description” are developed based on the 2012 AHTN (ASEAN Harmonized Tariff Nomenclature) and classified at the 8-digit level.

+ Column “ACFTA duty rate (%)”: Duty rate applicable to each year, from January 1 through December 31 of the year, beginning from 2012 to the end of 2014.

+ Column “Ineligible countries”: Goods imported from countries with country codes (specified at Point 2, Article 2 of this Circular) ineligible for ACFTA duty rates.

Article 2. To be eligible for ACFTA duty rates, imports must fully meet the following conditions:

1. Being presented in the Special Preferential Import Tariff promulgated together with this Circular (not printed herein).

2. Being imported from the following member countries of the ASEAN-China Free Trade Area into Vietnam:

3. Being transported directly from a country of exportation specified in Clause 2 of this Article to Vietnam under the Ministry of Industry and Trade’s regulations.

4. Satisfying the rules of origin of goods in the ASEAN-China Agreement on Trade in Goods and having ASEAN-China certificates of origin (referred to as C/O – Form E) granted by the Ministry of Industry and Trade.

Article 3. This Circular takes effect on January 1, 2012, and replaces the Minister of Industry and Trade’s Decision No. 111/2008/QD-BTC of December 1, 2008, promulgating Vietnam’s Special Preferential Import Tariff to realize the ASEAN-China Free Trade Area during 2009-2011.-

For the Minister of Finance
Vice Minister
TRUONG CHI TRUNG