Reduce preferential import duty rates of 10% to petroleum products

On August 08, 2022, the Government issues the Decree No. 51/2022/ND-CP on preferential import duty rates applicable to petroleum products.

Accordingly, Decree 51/2022 adjusts to reduce the preferential import duty rates applicable to petroleum products in the Heading 27.10 Appendix II - Preferential import duty rates applicable to a number of goods under Heading 27.10 prescribed by Clause 1, Article 2, Decree No. 57/2020/ND-CP from 20% to 10%.

In particular, the petroleum products is applied with the preferential import duty rates as follows:

- RON 97 and above: unblended or blended with ethanol or other

- RON 90 and above, but below RON 97: unblended or blended with ethanol or other

- Other RON: unblended or blended with ethanol or other

Besides, topped crudes, lubricating oils for aircraft engines, lubricating oils and greases, transformer (transformer and current transformer), and circuit breakers oils…are applicable to the interest rate of 5%.

Automotive diesel fuel, fuel oils, and aviation turbine fuel (jet fuel) ...are still applicable to the interest rate of 7%.

This Circular takes effect on August 08, 2022.