Circular No. 102/2011/TT-BTC dated July 11, 2011 of the Ministry of Finance amending preferential import tax rate for commodity group of cashew (cashew nut) in the code 0801.31.00.00 in the Preferential Import Tariff

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Issuing body:	Ministry of Finance	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	102/2011/TT-BTC	Signer:	Do Hoang Anh Tuan
Type:	Circular	Expiry date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Issuing date:	11/07/2011	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Agriculture - Forestry , Tax - Fee - Charge

SUMMARY

IMPORT TAX RATE FOR CASHEW NUT IS REDUCED TO 3%

On July 11, 2011, the Ministry of Finance issued the Circular No. 102/2011/TT-BTC amending preferential import tax rate for commodity group of cashew (cashew nut) in the code 0801.31.00.00 in the Preferential Import Tariff.

Accordingly, from August 25, 2011. the preferential import tax rate for commodity group of unbarked cashew (cashew nut) in the code 0801.31.00.00 prescribed at the Preferential Import Tariff according to the list of dutiable commodity groups attached to the Circular No. 184/2011/TT-BTC of the Ministry of Finance is reduced from 5% to 3%.

Information from Vietnam Cashew Association (Vinacas) shows that current output of cashew nut only satisfies half of capacity for production, and the remain depends on import sources. While, price of collection cashew nut from import sources seem to increase higher than sources of domestic collection in recent years.

Reduction in import tax of cashew nut will help businesses in remaining material import, increasing production capacity, bringing foreign currencies for our country as well as creating competitive advantages in material import rather than other production countries; at the same time, contributing to supply jobs for labors.

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Effect status: Known

THE MINISTRY OF FINANCE

Circular No. 102/2011/TT-BTC dated July 11, 2011 of the Ministry of Finance amending preferential import tax rate for commodity group of cashew (cashew nut) in the code 0801.31.00.00 in the Preferential Import Tariff

Pursuant to the Law on Export and Import Tax dated June 14, 2005;

Pursuant to the Resolution No. 295/2007/NQ-UBTVQH12 dated September 28, 2007 of the Standing Committee of National Assembly promulgating the export tariff according to the list of dutiable commodity groups and the duty rate bracket for each commodity group and the preferential import tariff according to the list of dutiable commodity groups and the preferential duty rate bracket for each commodity group;

Pursuant to the Decree No. 87/2010/ND-CP dated August 13, 2010 of the Government detailing a number of articles of the Law on Import Duty and Export Duty;

Pursuant to the Decree No. 118/2008/ND-CP dated November 27, 2008 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

On the implementation of the Resolution No. 11/NQ-CP dated February 24, 2011 of the Government on major solutions for controlling inflation, stabilizing the macro economy and ensuring social security;

The Ministry of Finance amends preferential import tax rate for commodity group of unbarked cashew (cashew nut) in the code 0801.31.00.00 in the Preferential Import Tariff as following:

Article 1. Preferential import tax rate.

Amending preferential import tax rate for commodity group of unbarked cashew (cashew nut) in the code 0801.31.00.00 prescribed at the Preferential Import Tariff according to the list of dutiable commodity groups attached to the Circular No. 184/2011/TT-BTC dated November 15, 2010 of the Ministry of Finance promulgating tax rate of the Preferential Export Tariff and Preferential Import Tariff according to the list of dutiable commodity groups is 3%.

Article 2. Implementation effect.

This Circular takes effect on August 25, 2011./.

FOR THE MINISTER

DEPUTY MINISTER

Do Hoang Anh Tuan

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Circular No. 102/2011/TT-BTC dated July 11, 2011 of the Ministry of Finance amending preferential import tax rate for commodity group of cashew (cashew nut) in the code 0801.31.00.00 in the Preferential Import Tariff

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SUMMARY

Circular No. 102/2011/TT-BTC dated July 11, 2011 of the Ministry of Finance amending preferential import tax rate for commodity group of cashew (cashew nut) in the code 0801.31.00.00 in the Preferential Import Tariff

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