7 July, 2016
Grant Thornton Vietnam would like to summarize some notable points in Law no. 107/2016/QH13 for your ease of reference:
Raw materials, supplies, and accessories imported for export production shall be exempt from import duty.
Raw materials, supplies, and accessories, imported for export production but have yet to be exported; goods temporarily imported that have yet to re-export, that have been registered with the custom authorities before the effective date of this Law and tax on which have not been paid, shall apply this Law.
The Law sets out Chapter III on Anti-dumping duty, anti-subsidiary duty and safeguard duty; in which, Ministry of Industry and Trade will be the party to decide on the application of Anti-dumping duty, anti-subsidiary duty and safeguard duty; and, the Ministry of Finance will be the party to stipulate the regulations on declaration, collection, refund of such duties. Law no.
107/2016/QH13 will come into effect from 1 September 2016. Law on Export and Import no. 45/2005/QH11 will be invalid from the effective date of Law no. 107/2016/QH13.
