Apply normal tax rates to imported goods

Regulations on applying normal tax rates to imported goods

Deputy Prime Minister Le Minh Khai signed Decision 15/2023/QD-TTg regulating the application of normal tax rates to imported goods. This Decision takes effect from July 15, 2023.

This Decision provides for the application of normal tax rates to imported goods as prescribed in Point c, Clause 3, Article 5 of the Law on Export Tax and Import Tax.

Subjects of application include owners of exported and imported goods; organizations and individuals with rights and obligations related to the export and import of goods; customs agencies, customs officials; other agencies, organizations and individuals when implementing export tax and import tax policies according to the provisions of the Law on Export Tax and Import Tax.

Imported goods not listed in the list of normal import tax rates in the appendix issued with this decision and not falling under the case of imported goods subject to preferential tax rates or special preferential tax rates, according to the provisions at points a and b, clause 3, Article 5 of the Law on Export Tax and Import Tax dated April 6, 2016, shall be subject to a normal tax rate equal to 150% of the preferential import tax rate of each corresponding item.

Apply normal tax rates to imported goods. (Photo: Hoang Ha)

Collected more than 663,000 billion VND in taxes after 5 months

The General Department of Taxation said that the total state budget revenue in the first 5 months of 2023 managed by tax authorities is estimated at 663,843 billion VND, equal to 48.3% of the ordinance estimate, equal to 96.9% over the same period last year.

Accordingly, 12/20 revenue items and taxes achieved quite well compared to the estimate (reaching over 48%); 8/20 revenue items achieved below 48%; 12/20 revenue items and taxes had revenue growth compared to the same period last year; 8/20 revenue items and taxes had lower revenue than the same period, including environmental protection tax estimated at 53%; registration fee estimated at 72.5%; land use fee estimated at 44.6%; land and water surface rental fee estimated at 48.9%.

Fruit and vegetable exports increase sharply

According to information from the Ministry of Agriculture and Rural Development, by the end of May 2023, the export value of fruits and vegetables is estimated to reach 1.97 billion USD, an increase of 39% over the same period last year. Notably, while many agricultural export products have decreased sharply, the fruit and vegetable industry continues to record strong export growth, second only to rice.

In the structure of main export fruit categories, only dragon fruit and banana recorded negative growth in the first 4 months of 2023. In contrast, other key export fruits recorded double-digit growth rates. In particular, the export value of durian reached 190.5 million USD, a sharp increase of 573.1% over the same period in 2022. Durian is mainly exported to the Chinese market, accounting for 84.3% of the total export value of this fruit. (See details)

Deputy Prime Minister requests Ministry of Construction to revise fire prevention standards before June 30

Deputy Prime Minister Tran Hong Ha requested the Ministry of Construction to study and revise Regulation 06:2022 on Fire safety for houses and constructions, and consult with affected parties to issue it before June 30.

This is one of the contents in the announcement of the conclusion of Deputy Prime Minister Tran Hong Ha at the meeting to handle difficulties and problems related to fire prevention and fighting regulations in basic construction investment activities. (See details)

Proposal to reduce up to 50% of many fees and charges

The Ministry of Finance is seeking comments on a draft Circular regulating the collection rates of a number of fees and charges to support people and businesses.

Accordingly, the Ministry of Finance proposed that the collection rates of some fees and charges in the securities sector, appraisal fees for granting international travel service business licenses, citizen identification card issuance fees... be reduced by up to 50%, from July 1, 2023 to December 31, 2023. (See details)

The Government agrees to reduce 50% of registration fees for domestic cars.

On the afternoon of June 1, explaining and clarifying some contents related to the financial sector, regarding the issue of reducing VAT by 2%, Minister of Finance Ho Duc Phoc said that according to the submission, the Government proposed to reduce from July 1, 2023 until the end of the year. However, some delegates said that the reduction period was short and suggested extending the reduction period to the end of 2024 or 2025.

Regarding the proposal to reduce 50% of registration fees for domestically produced cars, the Minister of Finance said that he had submitted it to the Government. And the Government agreed with this proposal: Reduce 50% of registration fees for domestically produced cars.

Which industries and capital levels are withdrawing the most from the market? "The number of businesses withdrawing from the market tends to increase faster than the number of businesses entering and re-entering the market," the Ministry of Planning and Investment warned.

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