Import duty exemptions are provided for projects which are classified as encouraged sectors and goods imported in certain circumstances.
In line with the Law on investment (Article 33.3), machinery and equipment, specialized means of transportation and construction materials (which cannot be produced in Vietnam) for use as the fixed assets are exempted from import duty.
In other cases, machine or equipment temporarily imported and re-exported out of Vietnam within a period not exceeding 90 days from the date of import (Item 4, Article 11 of the Decree No. 187/2013/ND-CP of the Government dated 20th November 2013 detailing implementation of the commercial law with respect to international purchases and sales of goods, and activities of agency for sale and purchase, processing and transit of goods involving foreign parties is exempted from import duty.
Export duty is charged on some items, basically natural resources. The tax base for computation of export duty is the FOB/Delivered at Frontier price, i.e. the selling price at the port of departure as stated in the contract, excluding freight and insurance costs
