According to Mr. Pham Tuan Anh, in the process of international economic integration, Vietnam has been active and proactive in negotiating and signing new free trade agreements with partners. To date, Vietnam has signed 11 bilateral and multilateral free trade agreements. To implement its commitment on import tax, the Ministry of Finance has issued circulars on Vietnam's special preferential import tax schedule, which is effective until December 31, 2018. In addition, the Ministry of Finance has presided over the development and submitted to the Government for promulgation of a Decree promulgating Vietnam's special preferential import tax schedule to implement free trade agreements for the period 2016 - 2018/2019. According to calculations, with the implementation of these free trade agreements, many import tax lines will be reduced to 0%.
Concerned that the reduction of import tax to 0% will affect the budget revenue, Mr. Pham Tuan Anh said that the process of reducing the proportion of revenue from import and export tax has been taking place since Vietnam became a member of the World Trade Organization. Therefore, the proportion of revenue has been adjusted on preferential taxes, the impact of reducing revenue is only from 20-25%, but in reality, incentives from implementing commitments will also increase and have a positive impact on the country's economy, enhancing the competitiveness of the economy.
