An official from the Hanoi Department of Taxation speaks to a payer (Photo: VNA) Hanoi (VNS/VNA) - TheMinistry of Finance (MoF) recently has added non-woven fabrics, which are usedto produce protective clothing, to the list of goods subject to import taxexemption.
The MoF proposed the PrimeMinister exempt import tax on medical face masks and raw materials for maskproduction, hand wash and hand sanitiser at the beginning of February inorder to help the prevention of the novel coronavirus (COVID-19) pandemic.
Recently, the ministryhas collected opinions from ministries, branches and business associationsto complete the draft decree amending and supplementing Decree 134/2016/ND-CPon export and import tax and Decree 125/2017/ND-CP on the export and importtariff.
Regarding the draft decreeamending Decree 134, the MoF has submitted documents to the Government and thePrime Minister proposing exemptions of import tax for raw materials,supplies and components for processing and manufacturing export products.
This regulation aims to removeproblems to promote the production and export of high value-added products,to remove difficulties for enterprises operating in the field of footwear,textiles and garments, and agro-forestry-fisheries products.
Regarding Decree 125, theministry proposed to reduce the import tax rates of some items in order to easedifficulties for enterprises and promote the development of industries ofagriculture, mechanics, supporting industries, and automobiles.
The MoF said that the amendmentwill reduce state budget revenue by more than 6 trillion VND (255 millionUSD)./.
The MoF proposed the PrimeMinister exempt import tax on medical face masks and raw materials for maskproduction, hand wash and hand sanitiser at the beginning of February inorder to help the prevention of the novel coronavirus (COVID-19) pandemic.
Recently, the ministryhas collected opinions from ministries, branches and business associationsto complete the draft decree amending and supplementing Decree 134/2016/ND-CPon export and import tax and Decree 125/2017/ND-CP on the export and importtariff.
Regarding the draft decreeamending Decree 134, the MoF has submitted documents to the Government and thePrime Minister proposing exemptions of import tax for raw materials,supplies and components for processing and manufacturing export products.
This regulation aims to removeproblems to promote the production and export of high value-added products,to remove difficulties for enterprises operating in the field of footwear,textiles and garments, and agro-forestry-fisheries products.
Regarding Decree 125, theministry proposed to reduce the import tax rates of some items in order to easedifficulties for enterprises and promote the development of industries ofagriculture, mechanics, supporting industries, and automobiles.
The MoF said that the amendmentwill reduce state budget revenue by more than 6 trillion VND (255 millionUSD)./.
VNA
