Japan to remove 86 percent of tax lines for Vietnam after CPTPP

TIN LIÊN QUAN
	CPTPP – challenges for Vietnamese businesses
	Shrimp exports tumble in 2018

After 11 years, Vietnam will be exempt from some 95.6 percent of the tax lines.

A zero percent tax rate will be applied to Vietnamese tuna after the CPTPP takes effect.

A zero percent rate will be applied to Vietnamese seafood like tuna, shrimp and crab. All of the aquatic products that are not entitled to tax removal under the Vietnam-Japan free trade agreement will have their import duty abolished six, 11 or 16 years after the CPTPP takes effect.

The CPTPP became valid in Vietnam on January 14. Earlier, it entered into force on December 30, 2018 after Mexico, Japan, Singapore, New Zealand, Canada and Australia completed procedures to ratify the trade pact.

According to the Vietnamese Ministry of Planning and Investment’s research in September 2017, the CPTPP will boost the country’s GDP and exports by 1.32 percent and 4.04 percent, respectively, by 2035. Total import revenue is forecast to increase 3.8 percent, lower than export value.

In addition, the deal will help create more jobs, increase income and contribute to poverty alleviation.

Vietnam, Hong Kong to promote trade amid US-China tensions Vietnam and Hong Kong should promote investment, trade and service flows between the two sides to take advantage of a diversion of trade from China amid ...

Mekong Delta firms urged to sell to Japan Mekong Delta firms should make use of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to do more business with Japan, experts told a ...

CPTPP – latest demonstration of trade liberalisation in Asia-Pacific The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into force in Vietnam on January 14, will support free trade amid ongoing global ...