REDUCE UP TO 10% OF PREFERENTIAL IMPORT DUTY RATES APPLICABLE TO PETROLEUM PRODUCTS
On August 08, 2022, the Government issues the Decree No. 51/2022/ND-CP amending the preferential import duty rates applicable to petroleum products under heading 27.10 in the Preferential Import Tariff promulgated together with the Government's Decree No. 57/2020/ND-CP dated May 25, 2020, amending and supplementing a number of articles of the Government’s Decree No. 122/2016/ND-CP of September 1, 2016, on the Export Tariff, the Preferential Import Tariff and the list of commodity items and their specific duty rates, compound duty rates and out-of-quota import duty rates, and Decree No. 125/2017/ND-CP of November 16, 2017, amending and supplementing a number of articles of Decree No. 122/2016/ND-CP.
Specifically, the preferential import duty rate applicable to a certain of petroleum products such as RON 97 and above (2710.12.11); RON 90 and above, but below RON 97 (2710.12.12); other RON (2710.12.13); Tetrapropylene (2710.12.40); Alpha olefins (2710.12.91), etc. is 20%. The duty rate applicable to motor spirit, unleaded (HS codes from 2710.12.21 to 2710.12.29) also is reduced from 20% to 10%.
Besides, the duty rate of 5% shall be applied to topped crudes; lubricating oils for aircraft engines; lubricating greases; transformer and circuit breakers oils, etc. The duty rate of 7% shall be applied to automotive diesel fuel; other diesel fuels; fuel oils; aviation turbine fuel (jet fuel) having a flash point of 23°C or more; aviation turbine fuel (jet fuel) having a flash point of less than 23°C, etc.
This Decree takes effect from the date of its signing.
