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Vietnam: New preferential import and export tariff
The proposal for the tables of new preferential export and import tariff submitted by the Ministry of Finance on behalf of the government to the Standing Committee of the National Assembly was approved yesterday (September 20, 2007); and it will be effective from January 1, 2008.
Under the new rule, with the table for new preferential import tariff a reduction of import tax ceilings will be applicable to 1,181 groups of commodities out of the total 1,221 groups of commodities to be subject to be taxed , and the import tariff ceilings for other 40 groups of commodities remain unchanged. The floor import tariff is basically kept as the present levels. Only the remaining 196 groups of commodities need the reduction of the floor import tariff so as to conform to the actual management in the coming period.
Under this new rule the adjusted export tariff is only applicable to the groups of commodities as crude materials. The export tariff ceilings for groups of petroleum rise from 0 %-8% to 0%-20%, coal from 0%-5% to 0%-20%, metal ores to 0-20%. The floor export tariff still remains at a low level 0%.
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The export tariff ceilings and floors for the steel billets will be adjusted to go down from 30%-40% to 10%-30%; for the metal scratches from 40%-50% to 10%-40 % to conform to WTO commitments. - VNGOP
TMC net, September 21, 2007