The Government has just issued Decree No. 57/2020 / ND-CP amending Decree No. 122/2016 / ND-CP and Decree No. 125/2017 / ND-CP amending Decree No. 122/2016 / ND-CP. on the Export Tariff and the Preferential Import Tariff.
The Government has just issued Decree No. 57/2020 / ND-CP amending Decree No. 122/2016 / ND-CP and Decree No. 125/2017 / ND-CP amending Decree No. 122/2016 / ND- CP on Export Tariff Schedule, Preferential Import Tariff.
Accordingly, from July 10, 2020, the Preferential Import and Export Tariff Duty List will apply according to the list of taxable items, the list of goods and the absolute tax, compound tax, and import tax outside the tariff quota. Issued together with Decree 57/2020 / ND-CP.
Decree 57/2020 / ND-CP has supplemented the provisions on the application of 0% preferential import tax rate to domestically unavailable raw materials, supplies and components for production and processing. (assembling) supporting products with priority for development for the automobile manufacturing and assembly industry in the period of 2020-2024 (Incentive program for automobile industry tax).
According to the provisions of the Decree, enterprises producing, processing (assembling) components, auto parts and enterprises manufacturing and assembling automobiles produce and process parts by themselves. , auto parts, if meeting the prescribed conditions: investment certificate or investment registration certificate or enterprise registration certificate or business registration certificate; Ownership or right to use production and processing facilities (assembly) and machinery and equipment at manufacturing and processing facilities, etc., as prescribed, shall be subject to the import tax rate. 0% preferential export.
The maximum tax incentive consideration period must not exceed 6 months from January 1 to June 30 or from July 1 to December 31 every year. In order to enjoy the 0% tax incentives, enterprises must submit to the customs offices where the enterprises are headquartered or where production, processing (assembly) facilities register for participating in the tax incentive program. Supporting cars as prescribed immediately after the effective date of this Decree or at any time of the year.
In addition, this Decree has repealed the content of “Provisions on preferential import tax rates for a number of goods subject to WTO commitments from January 1, 2019 onwards” in Decree 125/2017 / ND-CP and the Appendix attached to Decree 125/2017 / ND-CP.
Decree 57/2020 / ND-CP takes effect from July 10, 2020, except for the provisions on preferential import tax rates for imported automobile components under the Tax Preferential Program for production, Car assembly in Clause 3, Article 2 is applied from January 1, 2020.
Source: General Department of Customs
