Vietnam waives import duties and VAT for vital products amid COVID-19 fight
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| Vietnam waives import duties and VAT for vital products |
The government has issued Resolution No.106/NQ-CP on tax policies for imported goods to finance the prevention and control of the pandemic. Humanitarian and non-refundable aid imported by enterprises and individuals to finance Vietnam’s COVID-19 battle are free from import duties and VAT under current regulations. The relief comes into forces on September 9 until the pandemic is declared to be over.
The government assigned the Ministry of Health, the local people's committees, and the Vietnam Fatherland Front to approve and receive goods at the request of individuals and organisations.
The Ministry of Finance (MoF) is asked to guide customs dossiers for imported goods to finance COVID-19 prevention and control. The customs authority, based on the approval documents of ministries, branches, and localities, will carry out custom procedures without collecting import taxes and VAT on such goods.
Goods imported before September 11 will not be subject to import tax and VAT. If individuals and organisations already paid tax, the authorities will handle these overpaid taxes according to the related regulations.
In February, the MoF issued a decree announcing a list of medical items to be exempt from tax such as medical masks, hand sanitiser, raw materials for making face masks, antiseptic solutions, and personal protective equipment, among others.
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