Wednesday, January 17, 2007

Three groups of Lao commodities enjoy zero percent import tax

The Ministry of Trade has imposed a zero percent import tax on three groups of goods originating from Laos, namely rice and unprocessed rice; tobacco leaves and stem; and spare motorbike parts. The tariff rate will be applied for Vietnamese traders importing these items with the certificate of origin, form S, granted by Lao authorised agencies and valid until the end of this year. However, regarding tobacco leaves and stems, only those who are licensed to import tobacco materials under the Ministry of Trade's quotas can import these products. The tariff preferences are being applied under the agreement signed on July 28, 2005, between the Vietnamese and Lao ministries of trade for commodities eligible for preferential import tax rates. The agreement also lists items excluded from preferential import tax rates and those entitled to a 50 percent reduction in import tax.

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