DECREASE IMPORT TAX RATE FOR OILS AND PETROLEUM OILS TO 18%
On May 22, 2013, the Ministry of Finance issued the Circular No. 70/2013/TT-BTC amending preferential import tax rates applicable to some commodities of heading 2710 in the preferential import tariff.
Previously, at the Circular No. 58/2013/TT-BTC dated May 08, 2013, the Ministry of Finance increased import tax rate to 19% for petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic element of those preparations; waste oil...
At this moment, the Ministry of Finance decides to decrease the import tax rate for above commodities to 18%. In particulars, commodities at the heading 2710 still remains the same as before, Aviation gasoline, other than oils for fuel of jet plane: 7%, Diesel fuel for cars: 14%, an Topped crude oil, Carbon black feedstock oil: 5%.
This Circular takes effect on May 23, 2013.
