Title: Decree 57/2020/ND-CP dated May 25,2020 on amendments and supplements to several Articles of the Government’s Decree 122/2016/ND-CP on export and preferential import tariff schedules, lists of products, absolute, mixed and out-of-quota import duty rates...

Type: Decree

Issuing Agency: Government

Responsible Agency: Relevant Agencies

Issuing Date: 25-05-2020

From July 10, 2020, the preferential tax rate of 0% will be applied to many imported components and car assemblies
On May 25, 2020, the Government issued Decree 57/2020 / ND-CP amending and supplementing a number of articles of Decree 122/2016 / ND-CP on the Export and Import Tariffs. preferential import, List of goods and absolute tax rate, mixed tax, non-quota import tax and Decree 125/2017 / ND-CP amending and supplementing a number of articles of Decree 122/2016 / ND-CP.

Specifically, at the time of declaration registration, the customs declarant shall declare and calculate tax on imported raw materials, supplies and components at the normal import tax rate or the import tax rate. preferential or special preferential import tax rates as prescribed, not applicable tax rate of 0%.

The application of the preferential import tax rate of 0% to raw materials, supplies and components that cannot be domestically produced for the production, processing (assembly) of supporting products that are prioritized for development for the industry Manufacturing and assembling cars (referred to as automobile CNHT products) for the following subjects:

Firstly, the enterprises produce, process (assemble) auto components and spare parts.

Secondly, automobile manufacturing and assembling enterprises produce, process (assemble) auto components and spare parts.

In which, enterprises that manufacture, process (assemble) auto components and spare parts must have contracts on purchase and sale of automobile support products with automobile manufacturers and assemblers with certificates of eligibility. auto production and assembly components granted by the Ministry of Industry and Trade; ...

This Decree takes effect from July 10, 2020.

This Decree:

- Amending and supplementing Decree 122/2016/ND-CP on the Export Tariff, Preferential Import Tariff, List of goods and absolute tax rates, mixed taxes, and non-quota import duties .

- To partially invalidate Decree 125/2017/ND-CP amending and supplementing a number of articles of Decree 122/2016/ND-CP.