Import tax exemption to learn home ICT trade

At the workshop on policies for import and export of raw materials, supplies, components and information technology products. (Photo:
On the workshop on insurance policies for import and export of uncooked supplies, provides, parts and data expertise merchandise. (Photograph:

Hanoi (VNS/VNA) – The knowledge and communication expertise sector has grown by 6-9% annually and has usually exceeded the nation’s GDP development charge in recent times, attendees have been instructed at workshop held by the Ministry of Data and Communications (MIC).

MIC held the workshop on insurance policies for the import and export of uncooked supplies, provides, parts and data expertise merchandise; and disseminated Round 25/2022/TT-BTTTT in Hanoi on March 29.

The Authority of Data Know-how and Communication Trade stated Decision 23-NQ/TW dated March 22, 2018, of the Politburo set out the orientation for the nationwide industrial growth in the direction of 2030.

The decision identifies the event of the knowledge expertise trade, by which the electronics trade is the principle path. It additionally set a objective to succeed in a sophisticated degree by 2030, assembly the necessities of the fourth industrial revolution with a view to create digital expertise platforms for different industries.

The income of the IT trade reached 148 billion USD final yr, with software program accounting for about 6 billion USD, and digital {hardware} 135 billion USD, accounting for 17.8% of the entire trade.

Nevertheless, the above outcomes are primarily contributed by FDI enterprises.

When it comes to {hardware}, as much as 99% of the digital and telecommunications gear in use in Vietnam is imported.

Vietnamese electronics enterprises nonetheless have many limitations by way of scale and expertise and the home market primarily depends on imported or overseas manufacturers.

To advertise the event of the nation’s IT and electronics trade, the Authorities and the Ministry of Data and Communications have applied the Make-in-Vietnam technique with a concentrate on design, creation and manufacturing in Vietnam.

As of January 2023, Vietnam has signed 17 FTAs and is taken into account an open financial system.

With the implementation of many commerce agreements, tariff boundaries are more and more lowered and most IT and digital merchandise have a 0% import tax charge.

Nevertheless, there are nonetheless many uncooked supplies and parts for the manufacturing of IT and digital merchandise with tax charges of 5-20%.

The inadequacy in import tax on CBU merchandise and uncooked supplies and parts results in the dearth of competitors of domestically-produced merchandise with imported merchandise by way of manufacturing prices.

This has a big affect on the event of Vietnam’s digital expertise trade.

Do Thuy Huong, Vice President of the Vietnam Affiliation of Supporting Industries (VASI), member of the manager committee of the Vietnam Digital Industries Affiliation (VEIA), emphasised that the electronics trade has made an ideal contribution to the stability of overseas trade and commerce stability for the entire nation.

The nation had a commerce surplus of 11.2 billion USD final yr, of which, the electronics trade has a commerce surplus of 11.246 billion USD, stated Huong.

Nevertheless, within the strategy of import and export, Vietnamese electronics enterprises have been dealing with many difficulties and challenges, she famous.

Talking on the opening of the workshop, Deputy Director in control of the Authority of Data Know-how and Communication Trade Nguyen Thien Nghia stated that with a view to remedy the coverage inadequacies, assist to advertise analysis, growth and manufacturing of digital {hardware} merchandise in Vietnam, the Ministry of Data and Communications issued Round 25/2022/TT-BTTTT on December 31 final yr defining imported uncooked supplies and parts which can be exempt from import tax to straight serve manufacturing actions of IT merchandise, digital content material, and software program.

This is a vital coverage to assist home enterprises within the manufacturing of IT merchandise, and to resolve the inadequacy of the import tax on CBU merchandise which is decrease than the import tax on uncooked supplies and parts.

This additionally goals to create coverage options for the Make-in-Vietnam technique, which promotes design in Vietnam, product making in Vietnam, and change from assembling and processing to manufacturing Vietnamese merchandise.

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