Vietnam Has Issued An Urgent New Regulation! Want To Avoid Tax, Export From Vietnam Is Troublesome!

If you want to borrow Vietnam legally, please pay attention to the new policy of Vietnam's origin.

According to the Vietnamese media "hanoitimes" quoted by the Vietnam Bureau of statistics data, 1-7 months, Vietnam exported 145 billion 130 million US dollars, an increase of 7.5% over the same period last year, imports 143 billion 340 million U.S. dollars, an increase of 8.3% over the same period. The total import and export volume in 7 months is US $288 billion 470 million.

Media reports

The United States, the largest export market for Vietnam, exported $32 billion 500 million in 1-7 months, up 25.4% over the same period last year. Vietnam exported $24 billion 320 million to the EU, up 0.4% from the same period last year, and Vietnam exported 20 billion US dollars to China, up 0.1% over the same period last year.

China's largest source of imports for Vietnam, in the 1-7 months, imports more than $42 billion to China, an increase of 16.9% over the same period last year. South Korea's exports to Vietnam were 26 billion 600 million US dollars, down 0.8% compared to the same period last year, and ASEAN's export to US $18 billion 800 million, an increase of 5.2% over the same period last year.

In order to avoid some enterprises going to Vietnam, they export to the United States. Vietnam's Ministry of industry and trade recently issued the "Vietnam made" (origin) standard.

Made in Vietnam, it can be: agricultural products and resources originating in Vietnam; the final products completed in Vietnam, according to international HS code standards, must include at least 30% Vietnamese local added value. That is to say, 100% of the imported raw materials must be added to Vietnam by 30%, so that we can export labels made in Vietnam.

According to the example of "hanoitimes", Vietnam's local silk brand Khaisilk exported Chinese silk scarves to Made in Vietnam labels and exported them overseas. Asanzo, a TV set, imported its components from China, assembled in Vietnam, and exported to the country of origin in the form of Made in Vietnam. The two companies violated the Vietnamese origin law.

At the same time, Vietnam recently said on the official website of the government that it found dozens of forgery certificates of origin, and some companies tried to evade the illegal transfer of US tariffs. The products involved textiles, aquatic products, agricultural products, ceramic tiles, honey, iron, steel, aluminum and pressed wood.

With the continuation of Sino US trade war, Vietnam's exports to the US will continue to soared in the second half of 2019. Over the same period, Vietnam's Made in Vietnam will be stricter in origin management.

Here, we also remind the vast number of Chinese foreign trade enterprises to pay attention! If you want to borrow Vietnam legally, please be sure to meet the new deal of Vietnam's origin. Up to 30% of the added value requirement!