From September 1, a number of commodity items including gold jewelries, petrochemicals and used cars will enjoy new import duty and export duty incentives.
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| From September 1, 2016, enterprises exporting gold jewelries and other gold articles under headings 71.13, 71.14 and 71.15 of the Export Tariff will enjoy zero export duty__Photo: Internet |
Under Government Decree No. 122/2016/ND-CP, enterprises exporting gold jewelries, goldsmiths’ wares and other gold articles under headings 71.13, 71.14 and 71.15 of the Export Tariff will enjoy zero export duty if they can produce slips of test results certifying the gold content of under 95 percent issued by organizations licensed to certify the gold content in jewelries and goldsmiths’ wares.
In case exported gold jewelries, goldsmiths’ wares and other gold articles are export-processing products or determined to be wholly made of imported materials for export, test results are not required.
Petrochemicals including Benzoyl under subheadings 2707.10.00 and 2902.20.00, Xylene of subheading 2707.30.00, P-xylene under subheading 2902.43.00 and Polypropylene under subheadings 3902.10.30 and 3902.10.90 (except Polypropylene in primary forms under heading 98.37) of the Import Tariff will enjoy an incentive import duty rate of 1 percent from September 1 through December 31, 2016, and 3 percent from January 1, 2017 on.
Used motor cars imported for transport of no more than nine passengers (including the driver) of a cylinder capacity of below 1,500 cc under heading 87.03, and motor cars for transport of 10 to 15 passengers (including the driver) under heading 87.02 of the Import Tariff will be subject to the specific duty.
Meanwhile, motor cars for transport of no more than nine passengers (including the driver) of a cylinder capacity of over 1,500 cc are eligible for the combined duty.- (VLLF)
