question about import duty

I understand that imports worth less than 1,000,000 dong are exempt from the 20% import duty (but still have to pay 10% VAT).

If I import 1000 pair of socks, and each pair is worth 10,000  dong. Am i  exempt from the duty because the value of each item I am importing is less than 1,000,000, or do I have to pay it because the total value of the shipment is over 1,000,000?

thay is tax of vietnam all

Hello paddyflynn.

Welcome to Expat.com :)

Hope that the other members will advise you soon.

Thanks

Karen :)

I am not too sure about the 1-million-Dong threshold you are talking about.  But, if that is valid and my math is correct, your socks will and should be subject to import duties.  They are 10 times over the limit...  Yeah?

The import tax will be caculate as below:
- You have to apply the correct HS code for your product, base on the HS , they will calculate how many percent should you pay, you can search the HS code at http://www. customs.gov.vn/Lists/BieuThue2012/TraCuu.aspx. After that, the formula:
Import tax = (unit price + Freight + Insurance (if any))* %
VAT TAX = (unit price + import Tax) % 10%.
Hope it is helpfull for you

You don't have to pay Import tax for cargo of which total amount is below VND 1,000,000 & it will be considered as non-commercial goods.

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