Circular No. 190/2010/TT-BTC dated December 1, 2010 of the Ministry of Finance guiding the implementation of preferential import duty rates applicable to a number of commodities under Heading 2710 in the Preferential Import Tariff

OIL PREFERENTIAL IMPORT DUTY RATES REDUCE TO 12%

On December 01, 2010, the Ministry of Finance issued the Circular No. 190/2010/TT-BTC guiding the implementation of preferential import duty rates applicable to a number of commodities under Heading 2710 in the Preferential Import Tariff.

Preferential import duty rates for petroleum oil and oils under Heading 2710 is decreased. Within that, for motor gasoline (including lead mixture, high-class kind; non-lead mixture, high-class kind; lead mixture, common kind; non-lead mixture, common kind; aviation spirit; tetrapropylene; white spirit; spirit with aromatic constituent of less than 1%; naphtha, reformate and other preparations for petrol preparation and so on), the preferential import duty rate is adjusted to decrease from 17% to 12%.

Medium oils (with medium boil) and preparations:  aviation turbo engine fuel (jet fuel) also adjusted to decrease from 17% to 12%. Particularly, Kerosene is adjusted to decrease from 15% to 10%.

The duty rate for fuel oil diesel fuel used for high-speed engine and other diesel fuel is also decreased from 10% to 5%; other fuels’ is decreased from 12% to 7%. Other products in Heading 2710 remain the same duty rates as before.