Next week, new tax rates for many imports

VGP – The Ministry of Finance (MoF) informed that, since March 9, the import tax rate imposed on some milk products, except milk powder, will be raised while that of automobile components goes down.

March 05, 2009 3:05 PM GMT+7

Import tax of some milk products will be raised – Illustration photo

The MoF just issued circulars to readjust tax rates of some preferential imports.

According to Circular 39/2009/TT-BTC dated on Tuesday, milk and cream (group 04.01), uncondensed and not sweetened with sugar or other substances, will have the new tax rate of 15%, up 10% compared with the current rate.

Meanwhile, condensed/sweetened milk and cream (group 04.02), in powder, grains or other solid states, with the fat content below 1.5%, tinned in 20-kg-up cans, enjoy the tax rate of 3%.

Milk and cream products in group 04.02.91.00.00 are imposed with the tax rate of 10%, up 7% against the current rate. The tax rate of other fresh milk in group 04.02.99.00.00 will jump 13% to 20% from 7%.

Under Circular 38/2009/TT-BTC issued on February 27/2, the import tax rate of internal combustion engines is cut down to 20%. The current rate is 22-23%.

By Hoàng Nguyên