Vietnam to scrap tax exemption for low-cost imports from Feb

PUBLISHED : 4 Jan 2025 at 13:20

WRITER: Reuters

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Shipping containers stacked at Dinh Vu Port in Hai Phong, Vietnam, on March 18, 2024. (Photo: Bloomberg)

HANOI — Vietnam will abolish a duty exemption for low-cost imported goods from Feb 18, its government said on Saturday, in a move targeted at e-commerce platforms.

Such imports worth less than 1 million dong (US$39.37) had been free of duty since 2010, but a decision on Friday, signed by Deputy Prime Minister Ho Duc Phoc scraps the exemption, the government said in a statement.

The decision follows a call from parliament in November for the move.

Last month, Vietnam's trade ministry and local businesses expressed concern about the impact of Chinese online platforms on local markets due to deep discounting.