Ministry of Finance announces list of goods to be exempted from tax under TPP

Around 78 to 95 percent of taxes on these products will be removed as soon as the pact becomes law. Many key Vietnamese export items in the TPP market, such as agricultural products, seafood, garments and textiles, shoes, wooden furniture, electronics, and rubber will incur zero tax three to five years after the agreement takes effect.

As for import taxes, Vietnam has committed to applying a common tariff for all the TPP members, with the result that 65 percent of tariffs will be removed for goods such as animal feed, milk, rice, leather products, garments and textiles, fertilisers, cosmetics, machines, and wooden furniture.