Sunday, August 20, 2017 - 3:45:05

Ministries urge changes to import, export tariff levels

Print

Ministries, industrial sectors and associations have proposed several changes to a draft on export and import tariffs for next year.

The Price Management Department under the Ministry of Finance said that due to increased world petrol prices, Vietnam 's fuel import tax had been held at 0-5 percent.

The department added that the proposed fuel import tax rate of 0 to 5 percent set for the next year would be lower than the 40 percent rate as required by the World Trade Organisation (WTO) from 2012.

Therefore, it was suggested that next year's rate be calculated based on national commitment to the WTO.

Meanwhile, the Vietnam Cement Industry Corporation (VINCEM) said that an import tax rate of 15 percent based on clinker for 2012 would be too low, causing an adverse impact on domestic producers. As a result, the corporation requested a higher tax level be implemented to help revive the local sector.

However, VINCEM also asked that a zero tax rate be applied in promotion of cement exports in order to help reduce existing stockpiles.

The Vietnam Rubber Association meanwhile requested a higher import tax rate of 20 percent to replace the proposed 10 percent rate for automobile tyres coded 4011.62.10, 4011.63.10 and 4011.92.10 as they could be produced by domestic manufacturers.

The Ministry of Culture, Sports and Tourism in turn said that black-and-white film coded 0372.97.10 should enjoy a zero tax rate, due to it being used for archival purposes only, without affecting tax revenues.

As for compact discs and tapes coded 8523, the ministry requested a high tax rate be applied to prevent pirated imports.

Since last month, the Ministry of Finance, having gathered recommendations on its new import/export tariffs draft, said that changes would not significantly impact exports.

The draft has called for import taxes based on more than 1,000 items be cut in accordance with WTO commitment./.
Your comments about this article ...
Others