Decree No. 48/2005/NĐ-CP on reducing import tax rates for certain goods to implement the agreement between Vietnam and Thailand related to Vietnam's postponement of implementing the ASEAN CEPT Agreement for certain motorcycle spare parts and light truck complete vehicles.

DECREE OF THE GOVERNMENT

Regarding the reduction of import tax rates for certain goods to implement the agreement between Vietnam and Thailand related to Vietnam's postponement of implementing the ASEAN Comprehensive Economic Cooperation Agreement (CEPT) on certain motorcycle parts, automobile spare parts, and light trucks in their entirety with a maximum gross weight not exceeding five tons

THE GOVERNMENT

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Law on Export Tax and Import Tax dated December 26, 1991; the Law Amending and Supplementing Certain Provisions of the Law on Export Tax and Import Tax dated July 5, 1993 and the Law Amending and Supplementing Certain Provisions of the Law on Export Tax and Import Tax dated May 20, 1998;

Pursuant to Resolution No. 292/NQ-UBTVQH9 dated November 8, 1995 of the Standing Committee of the National Assembly regarding the Program to reduce import taxes of Vietnam to implement the ASEAN Comprehensive Economic Cooperation Agreement (CEPT);

To address Thailand's request due to Vietnam's postponement of implementing the CEPT/AFTA on certain goods which are motorcycle parts, automobile spare parts, and light trucks in their entirety;

At the proposal of the Minister of Finance,

DECREE:

Article 1. Attached hereto is the List of Goods and Import Tax Rates of Vietnam to implement the agreement between Vietnam and Thailand related to Vietnam's postponement of implementing the ASEAN Comprehensive Economic Cooperation Agreement (CEPT) on certain goods which are motorcycle parts, automobile spare parts, and light trucks in their entirety with a maximum gross weight not exceeding five tons.

Article 2. The List of Goods and Import Tax Rates attached hereto shall only apply to goods imported from Thailand that meet the conditions for applying the CEPT tax rate.

Goods imported from other ASEAN member countries included in this List shall continue to be subject to the tax rates issued under Decrees No. 78/2003/NĐ-CP dated July 1, 2003; Decree No. 151/2004/NĐ-CP dated August 5, 2004 and Decree No. 13/2005/NĐ-CP dated February 3, 2005 of the Government.

Article 3. This Decree shall take effect fifteen days after its publication in the Official Gazette. The provisions of this Decree shall be applicable from April 1, 2005 to December 31, 2007 according to the agreed document between Vietnam and Thailand.

Article 4. The Ministry of Finance shall be responsible for guiding the implementation of this Decree.

Article 5. Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial and centrally governed city People's Committees are responsible for implementing this Decree.

LIST OF GOODS AND IMPORT TAX RATES OF VIETNAM
TO IMPLEMENT THE AGREEMENT BETWEEN VIETNAM AND THAILAND RELATED TO VIETNAM'S POSTPONEMENT OF IMPLEMENTING THE ASEAN COMPREHENSIVE ECONOMIC COOPERATION AGREEMENT (CEPT) ON CERTAIN MOTORCYCLE PARTS, AUTOMOBILE SPARE PARTS, AND LIGHT TRUCKS IN THEIR ENTIRETY
(Issued together with Decree No. 48/2005/NĐ-CP dated April 8, 2005 of the Government)