On June 29, 2026, the Prime Minister issued Decision No. 32/2026/QD-TTg on the Vietnam Product Classification System, replacing Decision No. 43/2018/QD-TTg. The Decision takes effect from August 14, 2026.
1. Notable points of Decision 32/2026/QD-TTg – The new Vietnam Product Classification System:
Stipulates the list and content of Vietnam’s product classifications;
Developed in a manner consistent with the Vietnam Economic Sector Classification System and in line with international practices;
The new system maintains a 7-level classification structure, ranging from general to detailed levels, in order to fully reflect physical products and services in the economy, with the number of level-7 categories expanded to 3,829 categories.
Principles for clearly determining content according to 2 explanatory components:
- Inclusions: Products defined within the product category;
- Exclusions: Products not defined within the product category but belonging to other product categories.
Completely replaces the Product Classification System issued under Decision No. 43/2018/QD-TTg as of August 14, 2026.
2. Impact on value-added tax
Although this is not a document amending tax policy, the issuance of the new product classification system may affect the process of classifying goods, cross-referencing lists, and applying value-added tax policy in certain cases.
Therefore, once the Product Classification System is updated, enterprises should:
- Cross-check against the lists of goods currently subject to value-added tax policy to ensure accurate determination of taxable subjects;
- Monitor relevant guidance documents for any adjustments, and update related lists in accordance with the new Product Classification System.
Details of the Decision: See here.
(According to Decision No. 32/2026/QD-TTg, dated June 29, 2026)
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