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In line with the Prime Minister's Directive No. 06/CT-TTg dated 10 March 2025, the government recently issued Decree No. 73/2025/ND-CP amending preferential import duty rates for certain goods in the preferential import tariff schedule according to the list of dutiable goods issued with Decree No. 26/2023/ND-CP ("Decree 73").
Decree 73 introduces notable reductions in MFN import duty rates for several products and adds ethane, with a 0% preferential import duty rate, to the preferential import tariff schedule according to the list of dutiable goods.
This decree takes effect from its issuance date, 31 March 2025.
With reductions in MFN duty rates, Decree 73 aims to strengthen Vietnam's balanced and harmonious relationships with its (comprehensive) strategic partners.
Please find below a non-exhaustive comparison table of certain products subject to reduced preferential import duty rates:
(*) Three categories of automobiles benefiting from reduced duty rates are (i) passenger vehicles with a shared luggage compartment and sports cars with 2,000-2,500cc engines; (ii) sedans with 2,000-2,500cc engines; and (iii) other four-wheel drive vehicles.
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This Client Alert is issued in cooperation between BMVN International LLC and Baker McKenzie.
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