Photo: micgadget

The Prime Minister on November 30th signed Decision 78/2010/QĐ-TTg on the exemption of taxes on express postal imports, which values less than VND 1 million.

Accordingly, taxes, including value-added tax and import tariff, will not be imposed on the imports that are sent by express post services and cost under VND 1 million, starting from February 1st, 2011.

Imports costing VND 1 million and above will continue to be taxed, but the Finance Ministry is also allowed to readjust the value of untaxed imports up to 20 per cent.

The decision is seen as an effort by the Government to reform administrative procedures and follow international conventions.  

Source: DDDN

Translated by Thu Nguyen