IRAS e-Tax Guide
qualify for import relief as explained in paragraphs 10.15 to 10.17 or are investment precious metals. Computation of GST on imported goods 2.3 Import GST is levied on the taxable value, which includes the Cost, Insurance and Freight (CIF), the customs duty payable (if applicable), commission and other incidental charges2.
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Understanding Vietnam's Import and Export Regulations
Tax calculation. The payable import/export tax amount is equal to the unit volume of each actually imported or exported goods item. These are inscribed in the customs declarations and are multiplied by the tax calculation price and the tax rate of each item, which is stated in the tariff at the time of tax calculation.
Importing by Postal or Courier Service - CUSTOMS
Importing by Postal or Courier Service. Goods (e.g. new or used articles, online purchases, gifts) imported by post or courier services are subject to payment of Goods and Services Tax (GST) and/or duty. GST relief is granted on goods imported by post or air, excluding intoxicating liquors and tobacco, with a total Cost, Insurance and Freight
Import Duty Calculator - SimplyDuty
Import Duty & Tax Calculations Use this quick tool to calculate import duty & taxes for hundreds of destinations worldwide. Importing from : Currency Importing to : Currency Product description: OR Product value: *In currency of origin Product Quantity : Shipping cost: *In currency of origin Insurance cost : *In currency of origin
- What are import taxes in Vietnam?
- Import taxes in Vietnam are tariffs imposed on goods imported into the country. These taxes can significantly influence pricing, as high import duties can increase costs and reduce profitability.
- How are import duties & taxes calculated in Vietnam?
- The valuation methods, based on World Trade Organization (WTO) guidelines, help establish a standardized approach to calculating import duties and taxes: Transaction Value (Preferred): Based on the actual price paid or payable for the goods in a sale for export to Vietnam. Identical Goods: Used when the exact transaction value is unavailable.
- How can FTAs help businesses importing goods into Vietnam?
- For businesses importing goods into Vietnam, FTAs can significantly lower costs by reducing or exempting import duties on eligible products. To access these benefits, you must meet strict eligibility requirements, including proper classification and documentation.
- What products are exempt from VAT in Vietnam?
- Certain categories of goods and services are exempt from VAT in Vietnam. These exemptions are mostly intended to encourage the consumption of essential products, to promote certain industries or to support social initiatives. Among the products exempt from VAT in Vietnam, we can mention: Books and newspapers.
- How does VAT work in Vietnam?
- As the standard rate of VAT in Vietnam is 10%, this tax will be added to the selling price of the products or services concerned. 4. Declaration and Periodic Payment: The VAT collected must be declared and paid periodically to the Vietnamese tax authorities.
- What is Value Added Tax (VAT) in Vietnam?
- In Vietnam, Value Added Tax (VAT) is one of the main indirect taxes applied on goods and services. It is governed by the Vietnam VAT Law, which defines applicable rates, exempt products and registration procedures for businesses. Here are the important details regarding VAT in Vietnam:
