ANNOUNCEMENT 15 Nov 2014In November 2014, the government of Vietnam announced a change in import duties.
NUMBER OF INTERVENTIONS
Effective 15 November 2014 Vietnam, through Decision No. 54/QD-TTg, provided an import tax exemption on components (i.e. parts and accessories) used for production and assembly of medical equipment. According to reports, the measure has been introduced to reduce costs and encourage local production of the final equipment.
The said components can take advantage of the exemption only if the same components are not produced in Vietnam. Furthermore, the exemption will be available for 5 years from the commencement of manufacture or assembly of the medical equipment.