Draft Decree to Update Vietnam’s Special Preferential Import Tariff Schedule for 2022-2027 under the ATIGA to Come into Operation on 1 December 2022

On 8 March 2022, the Vietnamese Government issued Decision 29/NQ-CP approving the Ministry of Finance’s (“MOF”) submission dated 24 January 2022, to update Vietnam’s special preferential import tariff schedule for the implementation of the ASEAN Trade in Goods Agreement (“ATIGA“) in the period 2022 to 2027 (“AHTN 2022“).

MOF disclosed that under the AHTN 2022, several major product classifications will be subject to a change in their tax rate from those set out in the AHTN 2017 (the applicable tariff schedule for the period 2018 to 2022). For instance, preparations from meat, fish or crustaceans, mollusks or other aquatic invertebrates, and other edible preparations will be subject to a change in their tax rate under AHTN 2022.