From July 10, to impose the incentive duty rate of 0% for many imported components for automobile assemble
On May 25, 2020, the Government promulgates the Decree No. 57/2020/ND-CP on amending and supplementing a number of articles of the Decree No. 122/2016/ND-CP dated September 01, 2016 on the Export Tariff, the Preferential Import Tariff and the list of commodity items and their specific duty rates, combined duty rates and out-of-quota duty rates and the Decree No. 125/2017/ND-CP dated November 16, 2017 on amending and supplementing a number of articles of the Decree No. 122/2016/ND-CP.
To be specific, at the time of registering customs declarations, the customs declarant shall declare and pay import duty of imported raw materials, supplies and components at ordinary duty rates, preferential duty rates or especially preferential duty rates under current regulations, not yet apply the duty rate of 0%.
The application of the preferential import duty rates of 0% for raw materials, supplies and components which the country not yet able to produce for production, processing (assembly) of products supporting development priority for the automobile manufacturing and assembly industry (hereinafter referred to as products of automobile support industry) shall provide for the following subjects:
Firstly, enterprises manufacturing, processing (assembling) automobile components and spare parts.
Secondly, enterprises manufacturing, assembling automobile and manufacturing, processing (assembling) automobile components and spare parts by themselves.
In which, enterprises manufacturing, processing (assembling) automobile components and spare parts must have a contract on sale and purchase of industrial automobile supporting products with enterprises manufacturing and assembling automobile with a certificate of eligibility for automobile manufacture and assembly issued by the Ministry of Industry and Trade...
This Decree takes effect from July 10, 2020.