Circular No. 167/2014/TT-BTC dated November 14, 2014 of the Ministry of Finance promulgating Vietnam’s Special Preferential Import Tariff to implement the ASEAN - Korea Agreement on Trade in Goods during 2015-2018

CIRCULAR

Promulgating Vietnam’s Special Preferential Import Tariff to implement the ASEAN - Korea Agreement on Trade in Goods during 2015-2018[1]

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

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

Pursuant to the Government’s Decree No. 215/2013/ND-CP of December 23, 2013, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Framework Agreement on Comprehensive Economic Cooperation between members of the Association of Southeast Asian Nations (ASEAN) and the Republic of Korea (Korea),  which was concluded on December 13, 2005 in Malaysia, and ratified by the President of the Socialist Republic of Vietnam on April 12, 2006;

Pursuant to the Agreement on Trade in Goods under the ASEAN - Korea Framework Agreement on Comprehensive Economic Cooperation, which was concluded on December 13, 2005, in Malaysia, and on August 24, 2006, in the Republic of the Philippines;

At the proposal of the Director of the Department of International Cooperation;

The Minister of Finance issues the Circular promulgating Vietnam’s Special Preferential Import Tariff to implement the ASEAN - Korea Agreement on Trade in Goods during 2015-2018.

Article 1.To promulgate together with this Circular Vietnam’s Special Preferential Import Tariff to implement the ASEAN - Korea Agreement on Trade in Goods during 2015-2018 (applicable duty rates are referred to as AKFTA duty rates).

1. Column “Goods heading” and column “Goods description” are developed based on the 2012 ASEAN Harmonized Tariff Nomenclature (AHTN 2012) and classified at the 8-digit level or 10-digit level.

2. Column “AKFTA duty rate (%)”: Duty rates applicable to each year, from January 1 through December 31 of the year, starting from 2015 until the end of 2018.

3. Symbol “*” denotes imports ineligible for AKFTA duty rates at the corresponding time.

4. Column “Country ineligible for preference”: Goods imported from the country with the symbol specified at Point (2), Article 2 of this Circular, is ineligible for AKFTA duty rates specified in this Circular.

5. Column “GIC”: Goods produced in Kaesong industrial park in the territory of the People’s Democratic Republic of Korea are eligible for AKFTA duty rates under Article 3 of this Circular.

Article 2.Condition for imports to be eligible for AKFTA duty rates

To be eligible for AKFTA duty rates, imports must fully meet the following conditions:

1. Being specified in the Special Preferential Import Tariff promulgated together with this Circular.

2. Being imported from the following member countries of the ASEAN - Korea Agreement on Trade in Goods 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 - Korea Agreement on Trade in Goods and having an ASEAN - Korea certificate of origin (referred to as C/O - Form AK) as required by the Ministry of Industry and Trade.

Article 3.GIC goods

To be eligible for AKFTA duty rates of Vietnam, goods produced in Kaesong industrial park in the territory of the People’s Democratic Republic of Korea (GIC goods) must fully satisfy the following conditions:

1. Being goods with the symbol of “GIC” in the column “GIC” of this Tariff;

2. Being imported and transported directly from the Republic of Korea to Vietnam under the Ministry of Industry and Trade’s regulations;

3. Having C/O-Form AK printed with words “Rule 6” in box 8 granted by an agency of the Republic of Korea competent to grant C/O-Form AK under the Ministry of Industry and Trade’s regulations;

4. Satisfying the ASEAN - Korea rules of origin of goods, applicable to goods subject to Rule 6 - AKFTA under the Ministry of Industry and Trade’s regulations.

Article 4.Effect

This Circular takes effect on January 1, 2015, and replaces the Minister of Finance’s Circular No. 163/2011/TT-BTC of November 17, 2011, promulgating Vietnam’s Special Preferential Import Tariff to implement the ASEAN- Korea Agreement on Trade in Goods during 2012-2014. Any problems arising in the course of implementation should be reported to the Ministry of Finance for additional guidance.-

For the Minister of Finance
Deputy Minister
TRUONG CHI TRUNG