Decision No. 43/2006/QD-BTC dated August 29, 2006 of the Ministry of Finance abolishing the localization rate-based tax policy for mechanical, electrical and electronic products and spare parts

DECISION

ABOLISHING THE LOCALIZATION RATE-BASED TAX POLICY FOR MECHANICAL, ELECTRICAL AND ELECTRONIC PRODUCTS AND SPARE PARTS

THE MINISTER OF FINANCE

Pursuant to Law No. 45/2005/QH11 of June 14, 2005, on Import Tax and Export Tax and in furtherance of commitments in the Vietnam-US Bilateral Trade Agreement, which was approved by the Xth National Assembly of the Socialist Republic of Vietnam at its 10th session under Resolution No. 48/2001/QH10 of November 28, 2001;

Pursuant to the Government's Decree No. 86/2002/ND-CP of November 5, 2002, defining the functions, tasks, powers and organizational structures of ministries and ministerial-level agencies;

Pursuant to the Government's Decree No. 77/2003/ND-CP of July 1, 2003, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Prime Minister's directing opinions in Official Letter No. 1162/TTg-KTTH of July 26, 2006, on abolition of the localization rate-based tax policy;

At the proposal of the director of the Tax Policy Department,

DECIDES:

Article 1.- To abolish the localization rate-based tax policy for mechanical, electrical and electronic products and spare parts prescribed in Joint Circulars No. 176/1998/TTLT-BTC-BCN-TCHQ of December 25, 1998, and No. 120/2000/TTLT-BTC-BCN-TCHQ of December 25, 2000, of the Ministry of Finance,

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