Reduce preferential import tax rates for many products

Wooden chairs and furniture have import tax reduced to 0%. Photo: QUANG VIET

The Government has just issued Decree 73 amending and supplementing preferential import tax rates of a number of items in the Preferential Import Tax Schedule according to the List of taxable items issued together with Decree 26 dated May 31, 2023 on Export Tariff Schedule, Preferential Import Tariff Schedule, List of goods and absolute tax rates, mixed tax, and import tax outside the tariff quota.

Accordingly, the preferential import tax rate for automobiles with HS codes 8703.23.63 and 8703.23.57 will be reduced from 64% to 50% and automobiles with HS code 8703.24.51 will be reduced from 45% to 32%.

For ethanol, the preferential import tax rate is also reduced from 10% to 5%. The import tax rate for frozen chicken thighs is reduced from 20% to 15%; for unshelled pistachios is reduced from 15% to 5%; for almonds is reduced from 10% to 5%; for fresh apples is reduced from 8% to 5%; for sweet cherries is reduced from 10% to 5%; for raisins is reduced from 12% to 5%.

For wood and wood products including clothes hangers, thread spools, yarn tubes and bobbins, sewing thread reels and similar products, wooden matchsticks, seats and parts of seats, wooden furniture, import tax is reduced from the tax rates of 20% and 25% to the same tax rate of 0%.

Preferential import tax rate for liquefied natural gas is reduced from 5% to 2%. Ethane is subject to a preferential import tax rate of 0%. Preferential import tax rate for corn kernels is reduced from 2% to 0%; soybean meal is reduced from 1% and 2% to 0%.

Decree 73 takes effect from March 31, 2025.

Source: https://baoquangnam.vn/giam-thue-suat-thue-nhap-khau-uu-dai-nhieu-mat-hang-3152138.html