THE MINISTRY OF FINANCE
THE MINISTRY OF TRADE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 54/2003/TTLT/BTC-BTM
Hanoi, June 03, 2003
 JOINT CIRCULAR
GUIDING THE REDUCTION OF IMPORT TAX ON GOODS OF LAO ORIGIN SPECIFIED IN THE AUGUST 13, 2002 VIENTIANE AGREEMENT BETWEEN THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM AND THE GOVERNMENT OF THE LAO PEOPLES DEMOCRATIC REPUBLIC
 
Pursuant to the Vientiane Agreement signed on August 13, 2002 between the Government of the Socialist Republic of Vietnam and the Government of the Lao Peoples Democratic Republic on creation of favorable conditions for people, transport means and goods to travel across the border of the two countries, and promotion of development of trade and investment cooperation between Vietnam and Lao;
The Ministry of Finance and the Ministry of Trade hereby jointly guide the 50% tax reduction for goods of Lao origin imported into Vietnam as follows:
I. SCOPE OF APPLICATION:
A. Goods made in the Lao Peoples Democratic Republic and imported into Vietnam shall enjoy the import tax rate equal to 50% of the preferential one specified in the Preferential Import Tariff, if they satisfy the following conditions:
1. Being those on the List of goods items of Lao origin eligible for the 50% reduction of preferential import tax when being imported into Vietnam under annual treaties or agreements between the two countries governments.
The specific quantities and values of imported goods of Lao origin, which are eligible for 50% import tax reduction each year, shall be based on the List of goods of Lao origin eligible of 50% preferential import tax reduction when being imported into Vietnam under the treaty or agreement between the two
Promulgated together with this Circular is the List of goods items of Lao origin eligible for 50% (fifty per cent) import tax reduction when being imported into Vietnam in 2003.
In cases where a goods item concurrently satisfies the conditions for enjoying 50% import tax reduction and those for enjoying a CEPT preferential tax rate, the lower tax rate of these two tax rates shall apply.