Conditions for Goods from the Free Trade Zone to be Eligible for VKFTA Tax Application

Le Hai

09:54, 11/07/2024

the Government of Vietnam has just issued Decree 149/2017/ND-CP on the special preferential import tariff schedule of Vietnam to implement the Vietnam - Korea Free Trade Agreement for the period 2018 - 2022.

Goods from Vietnam's free trade zones (including processed goods) imported into the domestic market that are subject to the VKFTA tax rate must meet the following conditions:

- Meet the conditions prescribed in Clause 1, Article 4 of Decree 149/2017/ND-CP;- Certificate of Origin (C/O) form VK, in accordance with the current legal provisions.

For goods produced in the Kaesong Industrial Complex within the territory of the Democratic People's Republic of Korea (GIC goods) to be eligible for the VKFTA tax rate of Vietnam, they must meet the following conditions:

- Include items marked "GIC" in the "GIC" column of the Tariff Schedule issued alongside Decree 149/2017/ND-CP.- Imported from South Korea to Vietnam.- Transported directly from South Korea to Vietnam in accordance with regulations by the Ministry of Industry and Trade.- Meet the rules of origin as stipulated in Article 3.5, Chapter 3 on Rules of Origin and Origin Procedures under the Vietnam-Korea Free Trade Agreement, with a Certificate of Origin (C/O) form KV, in accordance with the current legal provisions.

More details can be found in Decree 149/2017/ND-CP effective from January 01, 2018.

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