On September 18th 2020, Prime Minister Nguyen Xuan Phuc approved the promulgation of Decree no. 111/2020/ND-CP (Decree) relating to Vietnam’s import & export tariffs schedule in accordance to the European Union Vietnam Free Trade Agreement (EVFTA), for the period of 2020 – 2022.
The Decree takes effect from 18th September 2020.
It is worth noting that according to the Decree, for all Customs import & export declarations registered from 01st August 2020 until the effective date of the Decree, if the goods satisfied all conditions to benefit from the preferential/special-preferential export/import duty rate as required by law, but the Customs declarant had already declared and paid Customs duties applying the higher rate (normal duty rate or MFN import duty rate), the declarant will be allowed to claim back the overpaid duty amount (refund or offset against other payable liabilities, etc.).
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.