MoF proposes to revise preferential import and export tax rates for items
![]() |
The Ministry of Finance proposes revising preferential import and export tax rates for items. Photo: Internet. |
Amend and supplement provisions in Decree 57
The public health crisis has harmed the global and domestic socio economy, causing stagnation of the goods supply chain. Domestic production has been suspended or narrowed.
Recently, the ministry received proposals from associations and businesses related to the revision of import and export tax rate for some products listed in preferential import and export tariffs; and reflections on problems arising in the implementation of Decree 57.
Deputy Prime Minister Le Van Thanh has directed the ministry to work with relevant authorities to assess the implementation of the tax incentive programme for automobile production and assembly specified in Government Decree 58/2020, and suggest contents that need to be amended and supplemented.
Therefore, the revision of Decree 57 must be in line with the current situation. The building of the decree will be consistent with provisions of the Law on Import and Export Tax, contributing to stabilising the macro-economy and controlling inflation; promptly supporting and removing difficulties for domestic enterprises affected by the Covid-19 pandemic, the ministry said.
The amendment of Decree 57 also encourages firms to continue to invest, innovate technology and reduce product prices to increase competition with imported products, contributing to the protection and efficient exploitation of natural resources in the country.
Revise preferential import and export tax rates for some items
The draft provides two articles and key four content groups. Accordingly, it will revise preferential import and export tax rates for some items with a sharp increase in price.
It also amends export tax rate and most-favoured-nation (MFN) duty rates for some goods to protect and effectively use domestic non-renewable natural resources, and restricts the export of raw and unprocessed resources and contribute to simplifying the tariffs.
Notably, the draft decree also amends some contents of the tax incentive program for domestically manufactured and assembled cars. The Ministry of Finance submitted to the Government for permission to continue implementing the tax incentive programme under Decree 57 after 2022.
The draft will not provide new administrative procedures. Revised procedures are those performed by the Customs and Tax authorities over the past times. It will not raise compliance costs or resources for implementers.
Related News

Ho Chi Minh City: Foreign visitors spend more than VND1,500 billion to buy goods upon exit
10:01 | 07/02/2025 Customs

Export tax rates of 13 commodity codes to increase to 20% from January 1, 2025
13:46 | 28/12/2024 Regulations

Halal Market: The Door is Wide Open, How to Exploit It
14:23 | 29/12/2024 Import-Export

Preliminary assessment of Vietnam international merchandise trade performance in the first 11 months of 2024
10:50 | 27/12/2024 Customs Statistics
Latest News

Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance

Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance

Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance

Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance
More News

The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance

Fiscal, monetary policies support demand stimulation, price stabilisation
14:49 | 14/02/2025 Finance

Vietnam secures VND 157 billion from state enterprise divestment in 2024
09:16 | 14/02/2025 Finance

Vietnam gears up for potential inflation impact in 2025
14:26 | 11/02/2025 Finance

VN’s credit conditions in 2025 expected to be stable
14:24 | 11/02/2025 Finance

State revenue in first month of the year equal to 14% of the estimate
10:12 | 11/02/2025 Finance

Securities 2025 expects a breakthrough in scale and quality
14:37 | 10/02/2025 Finance

Cash reserves in stock accounts at six-quarter low amid margin rise
08:23 | 10/02/2025 Finance

Five solutions for developing stock market in 2025
10:01 | 07/02/2025 Finance
Your care

Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance

Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance

Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance

Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance

The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance