Shipping taxes to be waived

All export-import express packages will be tax exempt from, October 1.

The exemption is embodied in Government Decree 87/2010/ND-CP which regulates the prices at which tax applies; the exchange rate to caculate tax; tax payment schedules and tax exemptions and refunds.

The decree also exempts imported raw materials or devices dedicated for privileged investment sectors or which are not made in Viet Nam for five years from the day of their production.

But some goods – automobile assembly parts and such household appliances as air-cond-itioners, electric heaters, refrigerators, washing machines, electric fans, hair driers and smoothing irons – will not be tax exempt.

Tax for materials imported to make exports or for export to tariff-free zones will be refunded calculated on the final export product.

Products proved as entirely built with imported materials will not be taxed.

The State Bank of Viet Nam’s interbank exchange rate will be used to calculate tax. Bridging rates will be used if the currency to calculate tax is not included in the rate. — VNS

Tags: Vietnam Shipping taxes