Circular No. 162/2011/TT-BTC on the issuance of the Special Preferential Import Tariff Schedule of Vietnam for the implementation of the ASEAN-China Free Trade Area (ACFTA) period 2012-2014

CIRCULAR

Regarding the issuance of the Special Preferential Import Tariff Schedule of Vietnam

to implement the ASEAN-China Free Trade Area for the period 2012-2014

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

Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Finance;

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

Pursuant to the Framework Agreement on Comprehensive Economic Cooperation between the member states of the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China (hereinafter referred to as China), signed on November 4, 2002 in Cambodia, approved by the President of the Socialist Republic of Vietnam through Decision No. 890/2003/QĐ-CTN dated November 26, 2003;

Pursuant to the ASEAN-China Trade in Goods Agreement under the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and China (hereinafter referred to as the ASEAN-China Trade in Goods Agreement), signed on November 29, 2004 in Laos, and the Memorandum of Understanding between Vietnam and China on certain issues in the ASEAN-China Trade in Goods Agreement, signed on July 18, 2005 in China, approved by the Prime Minister of the Socialist Republic of Vietnam through Decision No. 257/2005/QĐ-TTg dated October 19, 2005;

The Ministry of Finance hereby issues this Circular on the Special Preferential Import Tariff Schedule of Vietnam to implement the ASEAN-China Free Trade Area as follows:

Article 1. Attached hereto is the Special Preferential Import Tariff Schedule of Vietnam to implement the ASEAN-China Free Trade Area for the period 2012-2014 (the applicable tariff rate abbreviated as ACFTA rate).

Where:

+ Column "Commodity Code" and column "Description of Goods" are based on the Harmonized System 2012 and classified at the 8-digit level.

+ Column "ACFTA Rate (%)": the applicable tariff rate for each year, applied from January 1 to December 31 of that year, starting from 2012 until the end of 2014.

+ Column "Countries Not Entitled to Benefits": goods imported from countries that may be marked with country name symbols (as specified in point (b) Article 2 of this Circular) shall not be subject to the ACFTA rates stipulated in this Circular.

Article 2. Imported goods must meet the following conditions to be eligible for the ACFTA rate:

1) They must belong to the Special Preferential Import Tariff Schedule issued together with this Circular;

2) They must be imported into Vietnam from member countries of the ASEAN-China Free Trade Area, including the following countries:

3) They must be directly transported from the exporting country specified in Clause (2) of this Article to Vietnam, in accordance with the regulations of the Ministry of Industry and Trade;

4) They must comply with the provisions on the origin of goods in the ASEAN-China Trade in Goods Agreement, accompanied by a Certificate of Origin for ASEAN-China Goods (abbreviated as Form E) in accordance with the regulations of the Ministry of Industry and Trade.

Article 3: This Circular takes effect from January 1, 2012; and revokes Decision No. 111/2008/QĐ-BTC dated December 1, 2008 of the Minister of Finance on the issuance of the Special Preferential Import Tariff Schedule of Vietnam to implement the ASEAN-China Free Trade Area for the period 2009-2011./.