Goods from New Caledonia not subject to enjoy Vietnam's special preferential tax rate

VCN - The Ministry of Trade and Industry issued Circular 05/2024/TT-BCT regulating the temporary suspension of temporary import and re-export of Monazite ores and ore concentrates business.

VCN - This is one of the contents related to the Customs field recently reported to the National Assembly by the Ministry of Finance.

VCN - The Ministry of Trade and Industry promulgated Circular 04/2024/TT-BCT amending and supplementing some articles of Circular 20/2014/TT-BCT dated June 25, 2014; the circular took effect from May 11, 2024.

VCN - Build a national database on cross-border trade and transport to store and share information to facilitate cross-border trade and transport as well as improve the efficiency and effectiveness of state management.

VCN - The Customs agency has received many proposals from businesses about answering and guiding policies on tax exemption, import tax and VAT refund for export processing enterprises. The General Department of Customs has responded and provided instructions for each specific case.

VCN - Scrap is a sensitive item with many potential risks of environmental pollution, directly affecting human health and the ecosystem. Therefore, strict management measures are needed to avoid the risk that Vietnam become a scrap gathering country in the world.

The law, which will take effect from July 1 this year, allows financial leasing companies to establish subsidiaries to handle and exploit bad debt assets. It also states that small financial leasing deals with value under VNĐ100 million do not need to control the purpose of capital use.

The absence of VAT on fertilisers has prevented domestic producers from declaring and deducting input VAT, which leads to higher cost of domestically produced fertilisers, by an estimated 5-8 per cent, and makes them vulnerable in competition from imported fertilisers.

VCN - Clarifying a number of contents related to the draft Decree amending and supplementing a number of articles of Decree No. 26/2023/ND-CP on Preferential Export Tariffs, Import Tariffs, List of Goods and Rates Absolute tax, mixed tax, import tax outside the tariff quota regarding the export tax rate for some types of fertilizers, the Ministry of Finance has clarified the reason why it does not adjust the export tax rate for this product.