In order to satisfy the practical needs arising in corporates’ import and export activities, on March 11, 2021, the Government promulgated Decree 18/2021/ND-CP (Decree 18) amending and supplementing some articles in Decree 134/2016/ND-CP providing in detail a number of articles and measures to implement the Law on Export and Import Duties (Decree 134). Some major amendments and supplements in Decree 18 are as follows:
- Decree 18 amends and supplements the regulations on the application of duty rate to the in-country exports and imports. In addition, it provides clearer bases for exemption of duties on goods imported for further processing and processed exports;
- Decree 18 simplifies related tax documents and procedures by clarifying the categories and quotas of duty-free goods to be in line with international treaties to which Viet Nam is a signatory.