S.Korea commodities to enjoy reduction in import taxes
The Ministry of Finance of Vietnam has announced a tax list which will be applied to commodities imported from the Republic of Korea (RoK) under the ASEAN-Korea Free Trade Agreement (AKFTA).
Under the tax list, live animal imported from the RoK will only suffer a tax rate of 0% or 5% without changes within the coming three years. However, import taxes of meat products and animal meat by-products, seafood products, milk and products from milk will enjoy a tax rate of 10 or 15% and even some commodities will see 5% or 7% since 2011.
