From September 23, products listed in the Export Tariff and awarded the Vietnam Green Label by the Ministry of Natural Resources and Environment will be eligible for export duty exemption.
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| An exhibition of green products at the Ho Chi Minh City Youth Cultural House__Photo: Thanh Vu/VNA |
Such is highlighted in the Ministry of Finance’s Circular No. 128/2016/TT-BTC dated August 9, providing the export duty exemption and reduction for environment-friendly products and products from waste recycling and treatment prescribed in Decree 19 of 2015 detailing a number of articles of the Law on Environmental Protection.
Meanwhile, the export duty rate imposed on products in the Export Tariff, which are made from recycled materials, will be reduced by half. After being reduced, if the export duty rate applicable to a commodity item is lower than the lowest duty rate prescribed by the National Assembly Standing Committee for such item, the lowest duty rate prescribed by the National Assembly Standing Committee will apply.
In case a taxpayer has paid export duty for environment-friendly products and products obtained from waste recycling or treatment and the paid duty amount is higher than the duty amount eligible for exemption or reduction as calculated under this Circular, the overpaid duty amount will be settled under Circular No. 38 of 2015.- (VLLF)
