Duties and Dutiable Goods - CUSTOMS
Duties payable = S$7.90 x 10 = S$79. b) Compressed natural gas (Cng) Duties payable = Total weight x Excise duty rate. Company A imports 50 kilogrammes of compressed natural gas. Assuming the excise duty for compressed natural gas is S$0.20 per kgm: Duties payable = S$0.20 x 50 = S$10.
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Understanding Vietnam's Import and Export Regulations
Vietnam imposes a tax on almost every type of product that is imported into the country. The import tax rates range depending on the type of product, for example, consumer products and luxury goods are highly taxed while machinery, equipment, and raw materials, tend to receive lower taxes and even tax exemptions. Imports are subject to import
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hot sales DOP phthalate from Vietnam | Factory Supply DOP Plasticizer
LG Vina asks Hanoi to tax DOP imports | ICIS. 28/8/1998 · HO CHI MINH CITY (CNI)--Vietnam's sole dioctyl phthalate (DOP) producer, LG Vina, a 50:50 joint venture between South Korea's LG Chemicals and state-owned Vinachem, is seeking Hanoi's imposition of 10% import duty on rival imports. Get Inquiry
- Why is Vietnam a key player in global trade?
- Industries primed for robust import and export activities, as highlighted by Vietnam Briefing, include electronics, textiles, pharmaceuticals, coffee, and e-commerce, making Vietnam a strategic player in global trade. With its rising costs, China is no longer the go-to destination for many businesses, and Vietnam has arisen as a serious competitor.
- How much tax does Vietnam impose on imported goods?
- This means that the importer will have to pay $1,500 in customs duties for that specific commodity. In addition to customs duties, Vietnam imposes three other types of taxes on imported goods: Value Added Tax (VAT), Special Consumption Tax (SCT) and Environmental Protection Tax ( FTE).
- What is the VAT rate for foreign suppliers in Vietnam?
- The VAT rate applicable to services provided by foreign suppliers without permanent establishments in Vietnam to organizations and individuals in Vietnam via e-commerce and digital-based platforms will be changed from 5% to 10%.
- 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.
- Can a business register for VAT in Vietnam?
- Businesses registered for VAT in Vietnam can benefit from a valuable advantage: they are allowed to deduct the VAT they have paid on purchases made for their business activities. This deduction applies to the VAT paid on goods and services that are essential for the company's operations.
- 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.
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