AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 11 June 2013, Vietnam allowed enterprises that import duty-exempted raw materials to produce export goods to adjust the consumption rate of such raw materials even after exportation of the finished goods.
Enterprises are required to register with the customs authority and submit the expected consumption rate of the imported raw materials before processing them. Earlier, in case the actual consumption rate was lower than the expected, the enterprises were required to pay import duty on the unused material and also interest charges applied. The current measure allows enterprises to adjust their registered consumption rate after exportation provided certain conditions are fulfilled, thereby avoiding the additional duty payments.
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