Are there import taxes

Adding import duties to these products makes them more expensive, thereby narrowing the price difference and enabling countries to compete more effectively with producers in third countries. In addition to import duties, you normally have to pay VAT.

The VAT rate is the same as that which applies to supplies of goods and services in the Netherlands. Tobacco products require a valid Dutch excise stamp. May you recommend me some import companies or agents that proceed the trading?

Many thanks. Hi Alrik. Thank you for your inquiry. Hi, may I ask about the label requirement for importing vitamins into Vietnam? Hi Donald, Thank you for your inquiry. Please write to us at vietnam dezshira.

Hi Juan, Thank you for your query. One of our business advisory specialists will be reaching out to you shortly. Hi Soumiya, Thank you for your query. Please write in to our business advisory experts at: vietnam dezshira. Hello, I am an agent on behalf of a buyer abroad looking for textiles. Do I need a licence to complete any deals between the seller and buyer?

Please contact our experts at vietnam dezshira. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. Notify me of new posts by email. Stay Ahead of the curve in Emerging Asia. Our subscription service offers regular regulatory updates, including the most recent legal, tax and accounting changes that affect your business.

Import and export licensing procedures Vietnam does not require a company to have an import or export license to set up a trading company. Related services We can help you set up a trading company. Related services Learn about customs duties before you start trading.

Related services We manage taxes for MNCs from across the world. Your message has been sent. Your message was not sent. Please try again. Cancel Send. Corporate Significant developments Taxes on corporate income Corporate residence Other taxes Branch income Income determination Deductions Group taxation Tax credits and incentives Withholding taxes Tax administration Other issues.

Individual Significant developments Taxes on personal income Residence Other taxes Income determination Deductions Foreign tax relief and tax treaties Other tax credits and incentives Tax administration Sample personal income tax calculation. Vietnam Value-added tax VAT VAT applies to goods and services used for production, trading, and consumption in Vietnam including goods and services purchased from non-residents , with certain exemptions.

Goods or services where VAT declaration and payment are not required A separate category includes supplies not subject to output VAT, but where related input VAT can, nevertheless, be credited. This category includes the following: Compensation, bonus, subsidies, except those provided in exchange for certain services.

Transfers of emission rights and various financial revenues. Certain services rendered by a foreign organisation, which does not have a PE in Vietnam where the services are rendered outside of Vietnam, including repairs to means of transport, machinery, or equipment, advertising, marketing, promotion of overseas investment and trade, brokerage activities for the sale of overseas goods and services, training, and certain international telecommunication services.

Transfer of investment projects. Sale of agricultural products that have not been processed into other products or have only been through preliminary processing. Capital contributions in kind. Goods exported and then re-imported back to Vietnam due to sales returns by overseas customers. E-invoices The government has released an official Decree on e-invoicing in September , which became effective since 1 November Decree E-invoices with a verification code 'High tax risk enterprises' are required to use e-invoices with a verification code continuously for 12 months.

High risk enterprises are defined as those that have equity of less than VND 15 billion and have certain features, for example: Sales of goods or provision of services to related parties a definition thereof is included. Non-compliance with certain tax declaration requirements. According to the Law No. Tax rates are calculated based on the amount of money paid on one unit. Also, note that the tax calculation system is quite complicated and regulations change periodically.

Therefore, it is best to consult with local tax advisors for further information. Contact us via [email protected] to discuss particular cases. This concerns products such as:. In addition, Article 16 of the Law No. Circular No. For example, you cannot import the following products to Vietnam:. In order to generally demonstrate the import tax calculation, we have provided some simple formulas and illustrative examples.

How to calculate the total tax? As already mentioned earlier in the article, you can import to Vietnam if you have a legal entity that holds all the necessary licenses and is registered in Vietnam or use importer of record service.