Circular No. 12/2013/TT-BTC dated January 21, 2013 of the Ministry of Finance amending the preferential import tax rates for non-alloy steel wire in the Heading 7217.10.39 at 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:	12/2013/TT-BTC	Signer:	Vu Thi Mai
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:	21/01/2013	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Tax - Fee - Charge

SUMMARY

REDUCE THE IMPORT TAX RATE ON NON-ALLOY STEEL WIRE

This is regulated under the Circular No. 12/2013/TT-BTC dated January 21, 2013 of the Ministry of Finance on amending preferential import tax rates applicable to item of non-alloy steel wire of code 7217.10.39 in the preferential import tariff under the List of taxable items in the Annex II promulgated together with the Circular No. 193/2012/TT-BTC, of November 15, 2012 of the Ministry of Finance on promulgating the Export Tariff, Preferential Import Tariff in according to the list of taxable items.

Accordingly, from March 07, 2013, preferential import tax rates applicable to item of non-alloy steel wire not plated or coated, whether or not polished, containing by weight 0.6% or more of carbon (not including spokes wire; bead wire; flat hard steel reed wire; pre-stressed steel wire; free cutting steel wire) are adjusted to 3% (the previous regulation is 5%).

The tax rate on other items in code 7217 is still unchanged. Specifically, for wire of iron or non-alloy steel containing by weight less than 0.25% of carbon, the rate is 15%; from 0 - 10% for wire of iron or non-alloy steel containing by weight 0.25% or more but less than 0.6% of carbon.

This Circular takes effect as from March 07, 2013.

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Effect status: Known

THE MINISTRY OF FINANCE

Pursuant to the June 14, 2005 Law on export and import tax;

Pursuant to the National Resolution No. 295/2007/NQ-UBTVQH12 dated September 28, 2007, of the National Assembly Standing Committee 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

At the proposal of Head of the Tax Policy Department;

The Minister of Finance promulgates the Circular amending the preferential import tax rates for non-alloy steel wire in the Heading 7217.10.39 at the Preferential Import Tariff

Article 1. To amend preferential import tax rates

To amend preferential import tax rates for non-alloy steel wire in the Heading 7217.10.39 at the Preferential Import Tariff under the List of taxable items in the Appendix II issued attached with the Circular No.193/2012/TT-BTC dated November 15, 2012 of the Ministry of Finance promulgating the preferential import and export tariff according to the list of taxable products

Heading	Goods description	Tax rates (%)
72.17	Wire of iron or non-alloy steel.
7217.10	- Not plated or coated, whether or not polished:
7217.10.10	- - Containing by weight less than 0.25% of carbon	15
	- - Containing by weight 0.25% or more but less than 0.6% of carbon:
7217.10.22	- - - Bead wire; flat hard steel reed wire; pre-stressed steel wire; free cutting steel wire	0
7217.10.29	- - - Other	10
	- - Containing by weight 0.6% or more of carbon:
7217.10.31	- - - Spokes wire; bead wire; flat hard steel reed wire; pre-stressed steel wire; free cutting steel wire	0
7217.10.39	- - - Other	3