News

Proposing to reduce import duty for mineral products to 0%

Summary

The Ministry of Finance has completed the draft Decision of the Prime Minister amending and supplementing Clause 1, Article 1 and Appendix of the normal import tariffs of the Prime Minister’ Decision No. 45/2017/QD-TTg amending and supplementing Decision No.36/2016/QD-TTg regulating the application of normal tax rate for imported goods.

Updated on : 25-02-2019

Specifically, the tax rates for sulfurs of all kinds, other than sublimed sulphur, precipitated sulfur and colloidal sulfur; Natural sands of all kinds, whether or not coloured, other than metal-bearing sands of Chapter 26 in the tariffs; Natural calcium phosphates, natural aluminum calcium phosphates and phosphatic chalk are expected to be reduced to 0%.Accordingly, the Ministry of Finance plans to reduce the normal tax rate for minerals, ore and mineral fuels. The current tax rate for some items in this commodity group is 5%, which is expected to reduce to 0%.

The draft Decision also revises the description of some items related to machinery for processing metal and light bulbs; medical equipment and tools.

Source: Customs News