INCREASE THE CHARCOAL’S IMPORT TAX TO 10%
On May 06, 2013, the Ministry of Finance issued the Circular No. 56/2013/TT-BTC of the Ministry of Finance amending the export tax rated for forest charcoal in the heading 44.02 in the Export Tariff.
At this Circular, the Ministry of Finance decides to increase charcoal’s import tax rate (including shell and nut charcoal), whether or not agglomerated of bamboo and others to 10% (instead of 5% as previous regulations at the Circular No. 193/2012/TT-BTC dated November 11, 2012). In particular, the import tax rate for Charcoal made from coconut shell is 0% and for Charcoal made from planted forest is 5%.
The Ministry of Finance aslo explains clearly that forest charcoal in the heading 4402.90.90 applied to the tax rate must satisfy specifications as Sleek black, in-break, Hard, consistent, Content of ash is under or equal 3%, Fixed C content (C) is greater or equal 70% and so on.
This Circular takes effect on June 20, 2013.
