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

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.