Asia Pacific tax authorities are actively seeking to reduce tax leakages, non-compliance, and what they perceive to be tax avoidance activities. To help you position your business for success in an era of ever-changing tax rules and intense scrutiny, our subject matter experts from across the region and globally will come together to examine key developments. We will discuss the impact of emerging trends and current issues on your business models and strategies, sharing practical tips on how you can maximize opportunities to achieve the best risk mitigation outcomes.

Vietnam currently maintain a drop ship model under which a foreign buyer may purchase goods in Vietnam, and instruct the seller to deliver the goods to another Vietnamese entity, which is called “On The Spot” Export/Import (OTS).

Under this OTS scheme, the seller is still qualified as exporting their goods out of Vietnam to enjoy certain tax and duty incentives (i.e., import duty exemption of imported materials, 0% VAT).Under this new proposal, OTS scheme is to be abolished, and current transactions would be categorized under other existing rules.

On 9 June 2023, the Government released Decree No. 32/2023/ND-CP to replace Annex II of Decree No. 53/2018/ND-CP regarding encryption products subject to Import Permit, which also takes effect on 9 June 2023.

On 1 August 2022, the Ministry of Industry and Trade issued Decision No. 1514/QD-BCT to apply anti-circumvention measures on cane sugar imported from Cambodia, Indonesia, Laos, Malaysia and Myanmar under HS codes 1701.13.00, 1701.14.00, 1701.91.00, 1701.99.10, 1701.99.90, and 1702.90.91. This comes after Vietnam initiated the anti-circumvention investigation on 21 September 2021.

This webinar series provide an in-depth coverage of legal frameworks, practical issues and key trends and developments surrounding customs audits in select Asia Pacific jurisdictions.

On 3 June 2021, the Trade Remedy Authority of the Ministry of Industry and Trade (MOIT) received a petition for an anti-dumping investigation with regard to office desks and chairs originating from China and Malaysia. The petitioners are Xuan Hoa Vietnam JSC, and Hoa Phat Furniture., JSC. On 1 September 2021, the MOIT issued Decision No. 2091/QD-BCT to officially conduct the investigation.

The UK-Vietnam Free Trade Agreement entered into force as a replacement for the Vietnam-EU Free Trade Agreement due to Brexit, to leverage Vietnam-UK trade relations. To implement preferential tariff treatment under the UKVFTA, the Ministry of Industry and Trade issued Circular No. 02/2021/TT-BCT that will regulate the origin issues and take effect on 27 June 2021.

On 3 June 2021, the Trade Remedy Authority (TRA) of the Ministry of Industry and Trade (MOIT) – the investigator – received a petition for an anti-dumping investigation (AD) with regard to office desks, chairs and their parts originating from the People’s Republic of China (China) and Malaysia. On 18 June 2021, the TRA confirmed that the submitted petition dossier is complete and legal.

The UK-Vietnam Free Trade Agreement (UKVFTA) entered into force as a replacement for the Vietnam-EU Free Trade Agreement (EVFTA) due to Brexit, to leverage Vietnam-UK trade relations. To implement preferential tariff treatment under the UKVFTA, the Ministry of Industry and Trade (MOIT) issued Circular No. 02/2021/TT-BCT that will regulate the origin issues and take effect on 27 June 2021.

The government recently issued Decree No. 18/2021/ND-CP (“Decree No. 18“), amending a number of provisions under Decree No. 134/2016/ND-CP and elaborating on the Law on Export and Import Duties. The new decree comes into force on 25 April 2021.