ANNOUNCED AS TEMPORARYNo
Circular 157/2011/TT-BTC was enacted by the Ministry of Finance on 14 November 2011 and took effect from 1 January 2012. Around 945 import tariffs are cut in line with Vietnam's WTO commitments. About 108 tariffs were increased by an average of 1%-2% compared to the previous tariffs. These tariffs do, however, remain 1%-2% lower than the bound rate in 2012.
These are mainly the tariffs under the List of Goods not Encouraged to be Imported and tariffs on machinery/ equipment/ accessories or special means of transportation that can be produced domestically. This Circular also enacts a list of 87 products subject to export duties. They are mainly mineral products such as iron ores, metal scraps, and various kinds of monumental or building stones. 16 new products are added to the list of products subject to export tariffs.
As it proved impossible to identify the exact tariff changes, partly due to the fact that the Vietnamese government only this year implemented the Harmonized Tariff System, we refer to Annex 2 of the Vietnamese source mentioned below for the import tariff list on specific products for 2012.
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