From January 1, 2015, taxes on confectionery and fruits imported into Vietnam will be reduced.

On December 31, the Ministry of Finance issued a document detailing the contents of five Circulars promulgating Vietnam's special preferential import tariff schedule to implement free trade agreements for the 2015-2018 period.

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To implement Vietnam's commitment roadmap, the Ministry of Finance has issued circulars and promulgated Vietnam's special preferential import tariff schedule to implement the ASEAN-India Trade in Goods Agreement for the 2010-2012 period; 2012-2014 period. The 2015-2018 period took effect from January 1, 2015 (preferential tax rates under the AIFTA Agreement are called AIFTA tax rates).

According to the commitment of this agreement, Vietnam must reduce and eliminate tariffs on 6,772 lines out of a total of 9,558 lines of the current preferential import tariff schedule. The average tariff rate of the ASEAN-India tariff schedule for the period 2015-2018 is 7.38%/year, down 2.15% compared to 2014; for the period 2015-2017, it will decrease according to the roadmap. The tax-reduced items include confectionery, coffee, rubber, animal feed, vegetables, paper, means of transport, machinery and equipment, etc.

In 2018, partial tax on the regular list was eliminated as committed by Vietnam.

From January 1, 2015, imported goods will enjoy preferential tax rates under the AIFTA agreement. Goods must meet origin requirements as prescribed by the Ministry of Industry and Trade.

According to PLO