For example, the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have significantly reduced rates for exporters accessing the Vietnamese market. Understanding import tax in Vietnam is essential for any business looking to expand into Southeast Asia.
Ministry of Finance Vietnam Customs Enforcement and Import Tax Regulations
The total landed cost includes several components that can significantly impact the final price. The Ministry of Finance oversees the General Department of Vietnam Customs, which is responsible for enforcement and collection.
If this value cannot be determined, customs officials will apply alternative methods, such as the Transaction Value of Identical Goods or Computed Value. Overview of Vietnam's Customs Duty Structure The import tax regime in Vietnam is primarily governed by the Vietnam Customs Law and is updated annually based on the country's socio-economic development goals.
Ministry of Finance Vietnam Customs Enforcement and Import Tax Compliance
These agreements are a strategic tool for reducing the import tax burden. Furthermore, entities involved in customs clearance must be registered with the Vietnam Customs Department.
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