This new circular will update various export and import regulations for 11,000 product types. From 2018 to 2025, most trade agreements will aim to eliminate all tariffs. Therefore, the new decree replacing Decree 122 will amend export tax, product description, and technical requirements of nine product groups. According to WTO agreement, the tax rate on transport vehicles for nine passengers or less will be reduced from 58% to 55% from January 1st 2018. It will be further reduced to 52% from January 1st 2019. The Ministry of Finance currently has two options regarding import tax on car components to be considered and decide upon at a later date.
