Question: I am having a Company in Singapore. We want to setup one polyster bed sheet unit in Vietnam.
Raw material for making this polyster bed sheet will be imported from china and the finished goods that is POLYSTER BED SHEET will be exported to Asia and USA and other countries.
Through this bed sheet unit we will be giving employment to 100-150 people.
The HS code for POLYSTER FABRIC is 5407540000 and HS code for BED SHEETS is 6302221000 please help us in providing the details of import and export duty and what benefits we will get if we set up this unit in Vietnam. We will be waiting for your reply .
Answer: As your request, we would like to advise you as follows:
If you import polyster fabric having HS Code 54075400 from China (having CO from China), import duty shall be 0%. Export duty for Bed Sheets having HS Code 630222100 shall be 0%.
If you setup this unit in Vietnam and export 100% products to abroad, you can also get reimbursement of input VAT.
In several Industrial Zones, you can be entitled to other investment incentives such as preferred corporate income tax, corporate income tax exemption in several years or low land lot rental fee.
Please let us know your inquiry about location to setup the factory, then, we can recommend you the best option for setting up such unit.