Circular No. 103/2012/TT-BTC dated June 22, 2012 of the Ministry of Finance guiding the implementation of preferential import tax rates for a number of commodities under heading 2710 in the preferential import tariff

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Circular No. 103/2012/TT-BTC dated June 22, 2012 of the Ministry of Finance guiding the implementation of preferential import tax rates for a number of commodities under heading 2710 in the preferential import tariff
Issuing body: Ministry of FinanceEffective date:
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Official number:103/2012/TT-BTCSigner:Vu Thi Mai
Type:CircularExpiry date:
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Issuing date:22/06/2012Effect status:
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Fields:Export - Import , Tax - Fee - Charge

SUMMARY

INCREASING THE IMPORT TARIFF FOR PETROL TO 10%

On June 22, 2012, the Ministry of Finance issued the Circular No. 103/2012/TT-BTC guiding the implementation of rates of referential import tariff for a number of commodities under the group 2710 in the preferential import tariff.

Under this Circular, the import tariff for motor spirit increases by 2 – 3 %. Specifically, the import tariff for motor spirit and aviation gasoline is 10% (instead of 7% as the previous regulation); 8% for diesel fuel which increases by 2% compared with previously. The import tariff for raw materials for black coal production, oils and greases, oil for transformer or circuit breakers, Petroleum oils and other preparations is still at 5%.

This is the fourth time the Ministry of Finance has revised petrol import taxes. After adjusting the rate at 0% at the beginning of the year, the Ministry of Finance has increased the import tax twice (not including this time), recently on June 08, 2012 with the increase of 3% for petrol and oil imports.

The Ministry requests both to revise the retail price and recover the import tax for petrol and oil. Therefore, together with the increase of tax, on June 21, 2012, the retail price of petrol and oil has reduced from 300 – 700 dong.

This Circular replaces the Circular No. 94/2012/TT-BTC dated June 08, 2012 and takes effect on June 22, 2012.
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Effect status: Known

 

THE MINISTRY OF FINANCE
-------
THE SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
---------------
No. 103/2012/TT-BTC
Hanoi, June 22, 2012
 
CIRCULAR
GUIDING THE IMPLEMENTATION OF PREFERENTIAL IMPORT TAX RATES FOR A NUMBER OF COMMODITIES UNDER HEADING 2710 IN THE PREFERENTIAL IMPORT TARIFF
Pursuance to the Law on Import Duty and Export Duty, of June 14, 2005;
Pursuance to the Resolution No.295/2007/NQ-UBTVQH12, of September 28, 2007 of the Standing Committee of National Assembly on 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;
Pursuance to the Decree No.87/2010/ND-CP, of August 13, 2010 of the Government on detailing a number of articles of the Law on Import Duty and Export Duty;
Pursuance to the Decree No.84/2009/ND-CP, of October 15, 2009 of the Government on petrol and oil trading;
Pursuance to the Decree No.118/2008/ND-CP,of November 27, 2008 of the Government on providing functions, duties, powers and organizational structure of the Ministry of Finance;
At the proposal of the Director general of Tax Policy;
The Ministry of Finance promulgates the Circular guiding the implementation of rates of referential import tariff for a number of commodities under the group 2710 in the referential import tariff as follows:
Article 1. The rates of referential import tariff for a number of commodities under the group 2710 in the referential import tariff
Adjusting preferential import tax rates of some commodities under the group 2710 in the referential import tariff as prescribed in the Circular No. 94/2012/TT-BTC of June 08, 2012 of the Ministry of Finance guiding the implementation of rates of referential import tariff for a number of commodities under the group 2710 in the referential import tariff into new rates for preferential import tariff specified in the List issuing together with this Circular.
Article 2. Effect
This Circular takes effect form signing and replaces the Circular No.94/2012/TT-BTCof June 08, 2012 of the Ministry of Finance on guiding the implementation of preferential import tax rates for a number of commodities under the Heading 2710 in the referential import tariff./.
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