Official letter No. 6237/TCHQ-TXNK dated October 24th, 2018 of the General Department of Vietnam Customs regarding import duty with regard to projects eligible for investment incentives
Refer to Section B Annex I - List of business lines eligible for investment incentives issued together with Decree No. 118/2015/ND-CP, "production of automobiles, automobile parts” belongs to business lines eligible for investment incentives. read more
Accordingly, upon executing projects on automobile manufacture and assembly, production of automobile parts, enterprises shall be exempt from import duties on goods imported to form fixed assets according to Clause 11 Article 16 of the Law on import and export duties No. 107/2016/QH13.
In addition, “automobile manufacture and assembly” also belongs to the List of supporting industries prioritized the development ( Section IV of the Annex issued together with Decree No. 111/2015/ND-CP), and therefore projects on automobile manufacture and assembly shall be considered to be the projects entitled to special investment incentives ( Section A Appendix I of Decree No. 118/2015/ND-CP).
Accordingly, the projects shall be exempt from import duties on raw materials, supplies and components which cannot be domestically manufactured for 05 years from the commencement of manufacture according to Clause 13 Article 16 of the Law on imports and export duties No. 107/2016/QH13.
The application for duty exemption shall be carried out according to Article 30, Article 31 of Decree No. 134/2016/ND-CP.
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