Circular No. 111/2012/TT-BTC dated July 04, 2012 of the Ministry of Finance promulgating the list of goods and import tax rates subject to tariff quotas

CIRCULAR

PROMULGATING THE LIST OF GOODS AND IMPORT TAX RATES SUBJECT TO TARIFF QUOTAS

Pursuant to the Law on Export, import tax No. 45/2005/QH11 on June 14, 2005;

Pursuant to the Resolution No. 295/2007/NQ-UBTVQH12 on September 28, 2007 of the Standing committee of the National Assembly of the Socialist Republic of Vietnam promulgating the Export tariff under the list of taxable group of goods and the tax bracket on each group of goods, the Preferential tariff under the under the list of taxable group of goods and the preferential tax bracket on each group of goods;

Pursuant to the Government s Decree No. 87/2010/ND-CP on August 13, 2010 on detailing the implementation of a number of articles of the Law on Export, import tax;

Pursuant to the Government s Decree No. 12/2006/ND-CP detailing the implementation of the Commercial Law on the international trading and the activities of agents, processing and transiting goods with foreign parties;

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

At the proposal of the Director of the Tax Policy Department;

The Minister of Finance promulgates the Circular guiding the implementation of the List of goods and import tax rates subject to tariff quotas on imported goods.

Article 1.the list of goods and import tax rates subject to taxation quota

Promulgating together with this Circular the List of goods and import tax rates subject to tariff quotas on imported goods (regardless of the goods origins).

Article 2.Quotas and applicable tax rates

1. The annual import quotas specified by the Ministry of Industry and Trade.

2. The imported goods outside the annual import quotas is subject to the import tax rates specified in this Circular.

3. In case the Free Trade Agreements signed by Vietnam specify the out-quota import tax rates on the goods in the List of goods in this Circular that the out-quota preferential import tax rates committed is lower than the out-quota import tax rate specified in this Circular, the out-quota preferential import tax rates specified in the Free Trade Agreements shall apply (as long as the conditions for enjoying such preferential import tax rates are satisfied). In case the out-quota preferential import tax rates committed is higher than the out-quota import tax rate specified in this Circular, the out-quota import tax rates specified in this Circular shall apply.

4. Imported goods within the annual import quota is subject to the import tax rate specified in the current preferential import tariff or subject to the special preferential import tax rates committed by Vietnam (as long as the conditions for enjoying such special preferential import tax rates are satisfied).

Article 3.Effects

This Circular takes effect on August 18, 2012 and supersedes the Circular No. 188/2009/TT-BTC on September 29, 2008 of the Ministry of Finance promulgating the list of goods and import tax rates subject to tariff quotas./.

LIST

OF GOODS AND IMPORT TAX RATES SUBJECT TO TARIFF QUOTAS
(Promulgated together with the Circular No. 111/2012/TT-BTC on July 04, 2012 of the Ministry of Finance)