According to an announcement by the Ministry of Industry and Trade on Thursday, automobiles from these two markets have been applied special preferential tax rates within the framework of free trade agreements which Vietnam has implemented.
Customs divisions have been asked to strengthen origin inspection over CBU (completely built unit) cars from ASEAN and India in line with the Ministry of Finance’s Circular 38, the Ministry of Industry and Trade’s circulars on Certificate of Origin to enjoy the tax incentive.
The inspection should also accord with the General Customs Department’s Decision 4286 on origin inspection process and writing guidelines by the Ministry of Finance.
