Question: I am from switzerland and i will open soon a company to import swiss watches and i would like to know the prices for the taxes for a value between 300 dollars and 21000 dollars please.
Answer: As your request, we would like to advise you as follows:
Watches originated from Switzerland shall be subjected to import duty from 15-20% and Value Added Tax: 10%.
For example,
Swiss Watches having HS Code No. 91019100 (Wrist-watches, pocket-watches and other watches, including stop-watches, with case of precious metal or of metal clad with precious metal electrically operated) having CIF Price of 300USD shall subject to Import Duty and VAT as follows:
VAT: 300 x 10% = 30USD
Import Duty: 300 x 15% = 45 USD
Then, upon import into Vietnam, you shall have to pay 75USD of tax for such watch.
