Decree No. 21/2022/ND-CP amending and supplementing Decree No. 57/2019/ND-CP dated june 26, 2019 about preferential export tariff schedule and special preferential import tariff schedule under the comprehensive and progressive agreement for Trans-Pacific partnership in the period from 2019 – 2022
After the United States announced their withdrawal from the Trans-Pacific Partnership Agreement (“TPP”) in 2017, the remaining TPP countries exchanged information to reach an agreement on how to proceed with the TPP under such circumstance. During this time, the name of the Trans-Pacific Partnership Agreement was agreed to change to Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”), retaining the fundamental contents.
After a year joining TPP (now is CPTPP) as a special observing member, in November 2010, Vietnam officially announced its participation. In Vietnam, CPTPP came into effect since 14 January 2019. By June 2019, the Government issued Decree No. 57/2019/ND-CP (“Decree 57”) about preferential export tariff schedule and special preferential import tariff schedule under the comprehensive and progressive agreement for trans-pacific partnership in the 2019 – 2022 period. This Decree applies to 6 member countries that finished the ratification process until June 26, 2019, including Mexico, Japan, Singapore, New Zealand, Canada, and Australia.
As of September 19, 2021, the CPTPP Agreement officially took effect for the Republic of Peru, so Decree 21/2022/ND-CP (“Decree 21”) was issued on March 10, 2022 to implement the CPTPP Agreement for the period of 2019-2022 with additional provisions applicable to Peru.
Accordingly,
Supplementing regulations on preferential export tax rates for goods exported from Vietnam to Peru and vice versa: The Republic of Peru applies the tax rates specified in Appendix I, in the column with the symbol “IV” from September 19, 2021 to December 31, 2021, in the column with the symbol “V” from January 1, 2022 to December 31, 2022.
Supplementing regulations on special preferential import tax rates applicable to goods exported from Vietnam to Peru and vice versa: The Republic of Peru applies the tax rates specified in Appendix II, at column with symbol "IV" from September 19, 2021 to December 31, 2021, column with symbol "V" from January 1, 2022 to December 31, 2022.
Supplement regulations on conditions for applying preferential export tax rates and special preferential import taxes to apply to goods exported from Vietnam to Peru and vice versa.
For customs declarations of export and import goods between Vietnam and Peru registered from September 19, 2021 to before March 10, 2022, if all conditions are met to enjoy preferential export tax or special preferential import tax specified in Decree 57 and Decree 21 and have paid tax at a higher tax rate, the customs authority shall handle the overpaid tax according to the provisions of the law on tax administration.
Decree 21/2022/ND-CP takes effect from March 10, 2022.
Should you have any concerns during the process of implementing the regulations, please contact us.