Shipments bound for EU two years ago eligible for tax incentives

By Tam An

Wood products are processed for export. Shipments bound for the European Union market before August 1, the day the EU-Vietnam free trade deal took effect, will still be granted a certificate of origin (C/O) to enjoy preferential tax policies – PHOTO: VNA

HCMC – Shipments bound for the European Union (EU) market before August 1, the day the EU-Vietnam free trade deal took effect, will still be granted a certificate of origin (C/O) to enjoy preferential tax policies as part of the agreement.

If shipments that do not exceed 24 months before August 1 are in the process of being transported or stocked at warehouses, bonded warehouses and tax-free areas, the enterprises can ask functional agencies to grant the C/O under the EUR.1 form.

Besides this, businesses must provide documents with information about transport vehicles, flight numbers, departure dates and container numbers.

Shipments exceeding 24 months from August 1 but stuck in bonded warehouses are also eligible for the policy. However, the ministry and EU partners will discuss each specific case and take a final decision.

The policy was stipulated in Circular 11 issued by the Ministry of Industry and Trade at the end of June. It was then clarified in a document issued by the Department of Export and Import on September 22.