Proposing to reduce import duty for mineral products to 0%

15:51 | 19/02/2019 Regulations Follow english.haiquanonline.com.vn on

VCN- 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.

	How to enjoy preferential import tax rate from Laos?
	Export goods for processing shall be subject to tax exemption
	FProposing to reduce import duty for mineral products to 0%TAs drive Vietnam-Australia trade ties to new heights

Proposing to reduce import duty for mineral products to 0%

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.

By Hong Van/Ngoc Loan

Tags:

Related News

Implementing unprecedented fiscal policies to actively support people and businesses

16:25 | 17/04/2024 Finance

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore production and business. According to assessments, in 2024 fiscal policy will continue to be a positive highlight for the economy.

Ministry of Finance conducts general verification of public assets

17:07 | 14/04/2024 Finance

VCN - The Ministry of Finance issued Decision No.798/QĐ-BTC on the plan for implementing Decision No.213/QĐ-TTg of the Prime Minister approving the scheme on general verification of public assets at agencies, organizations, and units as well as infrastructures that are invested and managed by the State.

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

17:09 | 14/04/2024 Regulations

VCN - The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report at the 7th Session, and the 15th National Assembly for consideration and allowing to implementing in the second half of 2024.

Budget revenue collection for the first quarter of 2024 achieved quite well compared to current appropriation

10:49 | 09/04/2024 Finance

VCN - In the first 3 months of 2024, total revenue collection is estimated to reach VND539.5 trillion, equal to 31.7% of current appropriation, an increase of 9.8% over the same period in 2023. According to the Ministry of Finance's assessment, revenue of the first quarter of 2024 is quite good compared to current appropriation, mainly due to the concentration of revenues arising in the fourth quarter of 2023 and the difference according to the tax finalization 2023 following the regime of declaration and payment to the state budget in the first quarter of 2024.

Latest News

Seafood exporters are worried about some inadequacies from the two new decrees

06:47 | 30/04/2024 Regulations

VCN - From May 2024, two new Government decrees directly related to the enforcement of fisheries laws by seafood exporting enterprises will take effect, but have inadequate contents, makes businesses worried.

Risk prevention solutions for processing and export manufacturing businesses

07:52 | 29/04/2024 Regulations

VCN - Identifying common errors to comply with regulations, prevent risks, and limit errors arising in preparing final settlement reports is an issue of concern to many export processing and manufacturing enterprises.

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

10:33 | 13/04/2024 Regulations

VCN - The Ministry of Health, according to its assigned functions, tasks and authority, presides and coordinates with the Ministry of Finance and relevant agencies to urgently review, research, amend and complete the Ministry's regulations on import and export of medicinal materials.

No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

09:09 | 11/04/2024 Regulations

VCN - The Ministry of Finance has responded to the suggestions of Vietnam Automobile Manudacturers’ Association (VAMA) regarding the adjustment of reducing automobile volume to apply a tax rate of 0% for imported components and spare parts used for manufacturing and assembling automobiles. According to the Ministry of Finance, based on the current situation, the request to continue reducing the volume of VAMA is not suitable.

More News

Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

09:31 | 10/04/2024 Regulations

VCN - Enterprises exporting cinnamon essential oil are facing difficulties due to regulations on pharmaceutical trading of the Ministry of Health, leading to hundreds of tons of essential oil being left in stock in raw material areas.

Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

20:09 | 07/04/2024 Regulations

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.

Improving the customs legal system to be modern, synchronous, unified and transparent

10:33 | 07/04/2024 Regulations

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

New points about rules of origin in AKFTA

08:05 | 03/04/2024 Regulations

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.

It is necessary to build a national database on cross-border trade and transport

15:23 | 29/03/2024 Regulations

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.

Removing difficulties in tax exemption and refund policies for export processing enterprises

14:48 | 27/03/2024 Regulations

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.

Reviewing the list of scrap that is temporarily suspended from temporary import and re-export business

15:41 | 24/03/2024 Regulations

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.

New law expected to boost financial leasing

14:05 | 22/03/2024 Regulations

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.

5% VAT on fertilisers to create fairer market: domestic producers

14:03 | 22/03/2024 Regulations

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.

Your care

Latest Most read

Seafood exporters are worried about some inadequacies from the two new decrees

06:47 | 30/04/2024 Regulations

From May 2024, two new Government decrees directly related to the enforcement of fisheries laws by seafood exporting enterprises will take effect, but have inadequate contents, makes businesses worried.

Risk prevention solutions for processing and export manufacturing businesses

07:52 | 29/04/2024 Regulations

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

17:09 | 14/04/2024 Regulations

The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report to National Assembly for consideration and allowing to implementing in the second half of 2024.

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

10:33 | 13/04/2024 Regulations

No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

09:09 | 11/04/2024 Regulations

The Ministry of Finance has responded to the suggestions of VAMA regarding the adjustment of reducing automobile volume to apply a tax rate of 0% for imported components and spare parts used for manufacturing automobile