To adjust preferential import tax rates for a number of groups of goods

Published on 18 - 11 - 2021
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On 15/11/2021, the Government has just issued the Decree No. 101/2021/ND-CP amending and supplementing a number of articles of the Decree No. 122/2016/ND-CP dated September 1, 2016 of the Government and the Decree No. 57/2020/ND-CP dated May 25, 2020 of the Government amending and supplementing a number of articles of the Decree No. 122/2016/ND-CP dated September 1, 2016 of the Government on Export Tariff, Preferential Import Tariff, List of goods and absolute tax rates, mixed tax, import tax outside the tariff quota and the Decree No. 125/2017/ND-CP dated November 16, 2017 amending and supplementing a number of articles of the Decree No. 122/2016/ND-CP.

Accordingly, adjusting the export tax rates and preferential import tax rates for a number of groups of goods specified in Appendix I - Export Tariff according to the List of taxable goods and Appendix II - Preferential import tax schedule according to the List of taxable goods as specified in Clause 1, Article 2 of the Decree No. 57/2020/ND-CP.

Specifically, the export tax on all types of natural sand, whether or not colored, except for sand containing metals of Chapter 26 (code 25.05) will be adjusted to the tax rate from 0% to 10% and 30% ( depending on type).

In respect of marble, travertine, ecaussine and other limestone for monuments construction or construction stone with an apparent specific weight of 2.5 or more and alabaster, whether or not roughly trimmed or newly cut, by sawing or otherwise, into blocks or slabs of a rectangular shape (including square) (code 25.15); granite, porphyry, basalt, sandstone and other stone for building monuments or building stone, whether or not roughly trimmed or merely cut by sawing or otherwise, into blocks or slabs of a rectangular shape (including square) (code 25.16), which currently have a tax rate of 0%, 2%, 3%, will be increased to 17% - 30% according to the roadmap to 2024.

Jewelry and its parts, of precious metal or clad with precious metal (code 71.13), taxed at the rate of 25%; 30%, will be adjusted down from 30% to 0% and 1%.

Tax rates for gold or silver industrial products and parts of gold and silver industrial products, of precious metal or clad with precious metal (code 71.14); other products of precious metal or clad with precious metal (code 71.15) will also be reduced from 30% to 0% and 1%.

Unwrought lead (item code 78.01) will have a new export tax rate of 15% instead of 0% as prescribed in the Decree No. 57/2020/ND-CP.

In addition, in case the exported goods are not listed in the Export Tariff, the customs declarant shall declare the code of the exported goods corresponding to the eight-digit code of such goods according to the Preferential Import Tariff as prescribed and it is not required to declare tax rates on export declarations.

Exported goods belonging to the group with No. 211 in the Export Tariff that satisfy the two following conditions simultaneously: Supplies, raw materials and semi-finished products are not included in the groups with No. 01 to No. 210 in the Export Tariff; and they are processed directly from the main raw materials as natural resources and minerals with the total value of resources and minerals plus energy costs accounting for 51% or more of the product's production cost.

This Decree takes effect from December 30, 2021.

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