The newly enacted UKVFTA includes several new rules and measures regarding tariff-rate quotas, rules of origin, preferential tariffs, and service promotions. In this alert, Mazars Vietnam would like to highlight new updates on the rules of origin under this agreement.
On 11 June 2021, the Ministry of Industry and Trade released Circular no. 02/2021/TT-BCT on guiding the implementation of Rules of Origin in the United Kingdom of Great Britain and Northern Ireland – Vietnam Free Trade Agreement (UKVFTA). Accordingly, goods imported from the United Kingdom and Northern Ireland into Vietnam might use the certificate of self-certifying origin to enjoy special-preferential tariff treatment, if the consignment satisfies conditions stipulated in Article 19 of this Circular. In addition, this Circular also contains regulation on obtaining C/O form EUR.1, which will be valid within 12 months from the date of issuance.
The new Circular takes effect from 27/06/2021.
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.
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