From November 1, import tax on crude oil will be reduced to zero percent

	Annual crude output forecast to drop 5 per cent in decade
	By the end of the first quarter, tax sector achieves revenue collection of 26%
	How major imported goods of Vietnam fluctuatedin the first quarter 2019

llustrative photo: Internet

Accordingly, the normal import tax rate on crude oil products (item code 2709.00.10) will be reduced from five percent to zero percent.Specifically, amending and supplementing the Appendix of the List of common import tax rates as prescribed in Article 2 of Decision No. 45/2017 / QD-TTg of November 16, 2017.

In addition, Decision 28/2019 / QD-TTg also amends the description of some items such as bank notes, fiat money; overhead travelling cranes (portable gate type crane), transporter cranes, bridge cranes, overhead cranes, mobile lifting frames on tyres and straddle carriers; unit construction machines (single station), multi-station transfer machines; machinery for extraction or preparation of animal or fixed vegetable fats or oils, other fixed vegetable fats and oils; semiconductor recording media; ultra-violet or infra-red lamps, arc lamps; syringes, needles, catheters, cannula and the like

This decision will take effect from November 1, 2019.