The government has issued a decree promulgating a special preferential import tariff schedule for the implementation of the ASEAN Trade in Goods Agreement (ATIGA) during the 2022-2027 period.

To enjoy the special preferential import tariff, completely-built-up (CBU) motor cars must be imported from ATIGA member countries, meet the origin criteria, and hold certificates of origin form D (C/O form D) or confirmation of the origin of the goods.

Under Vietnam’s taxation commitments with ASEAN, from 2018, CBU motor cars imported from other ASEAN countries enjoy zero per cent tariffs if at least 40 per cent of their value is produced within ASEAN.

Vietnam had spent $3.62 billion importing 163,333 CBU motor cars last year as of December, surpassing 2021’s full-year figure of nearly 160,000 units, the General Department of Vietnam Customs reported.

Between January and November, Indonesia, Thailand, and China were the top three suppliers of CBU motor cars to Vietnam.