🌟 Announcement: Official Termination of Import Duty Exemption for Goods Under 1 Million VND🌟

🌟 Announcement: Official Termination of Import Duty Exemption for Goods Under 1 Million VND🌟

🌟 Announcement: Official Termination of Import Duty Exemption for Goods Under 1 Million VND 🌟

Posted on: 04/02/2025

On January 3, 2025, Deputy Prime Minister Ho Duc Phoc signed and issued Decision No. 01/2025/QĐ-TTg, officially ending the import duty exemption for goods valued under 1 million VND imported via express delivery services. This marks a significant shift in Vietnam's tax policy.

 
🔍 Main Contents of Quyết định số 01/2025/QĐ-TTg:
 
 • Effective from February 18, 2025, all imported goods valued under 1 million VND will be subject to import duty and VAT as per legal regulations.
 • This decision completely replaces Decision No. 78/2010/QĐ-TTg, which previously granted tax exemptions for low-value imports.
 • Objective: Ensure fair competition between imported goods and domestically produced products while contributing to increased state revenue.
 
📈 Reasons for Issuance:
 
 • Booming E-commerce: Approximately 4-5 million low-value orders are imported into Vietnam daily.
 • The previous tax exemption policy created a competitive disparity, putting domestic businesses at a disadvantage.
 
💡 Benefits of the Decision:
 
 • Enhances fair competition in business and improves tax management efficiency.
 • Encourages the use of locally produced goods, fostering growth for domestic enterprises.
 
Quyết định số 01/2025/QĐ-TTg is not just a tax policy adjustment but also a testament to the Government's commitment to protecting domestic businesses and consumers. This policy is expected to bring about positive changes, contributing to sustainable economic development.
 
Legal Basis:

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