Circular No. 05/2003/TT-BTM supplements the list of goods originating from Laos eligible for a 50% preferential import tax reduction into Vietnam in 2003, applicable to twelve specific items.
Scope of application
Enterprises importing goods with origin from Laos into Vietnam.
Key points
- Enterprises → are entitled to a 50% preferential import tax reduction for twelve specific items from Laos, including raw wood, granite stone, white and red winged ants, processed rattan, medicinal plants, ground bark for incense, dried tobacco leaves, soybeans, corn, fruit juice, candy, paint.
- → must import goods according to the list specified in this Circular.
🌐 Social impact of this document
- Positive impact: Reduces the tax burden for enterprises and consumers, increases access to supply sources from Laos.
- Negative impact: May affect domestic enterprises producing similar products.
❓ Frequently asked questions
How many items are subject to tax reduction?
This Circular specifies a tax reduction for twelve specific items from Laos.
What is the extent of the tax reduction?
Enterprises are entitled to a 50% preferential import tax reduction for the items listed in this Circular.
Which items are subject to tax reduction?
The items include raw wood, granite stone, white and red winged ants, processed rattan, medicinal plants, ground bark for incense, dried tobacco leaves, soybeans, corn, fruit juice, candy, paint.
What is the duration of application?
This Circular takes effect from the date of publication in the Official Gazette and applies for the year 2003.
Are there quantity limits for each item?
This Circular only specifies quantity-value limits for some items, for example, raw wood at 10,000 cubic meters and processed rattan at 2,000 tons.
Full text
CIRCULAR OF THE MINISTRY OF TRADE
Supplementary Circular No. 54/2003/TTLT-BTC-BTM dated June 3, 2003 guiding the implementation of preferential import tax reduction for goods originating from Laos as stipulated in the Vientiane Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Lao People's Democratic Republic signed on August 13, 2002.
________________________________
Pursuant to Clause 7.2 of the Memorandum of Understanding on the contents of the mid-year meeting between the Vietnam-Laos Cooperation Sub-committee and the Laos-Vietnam Cooperation Sub-committee signed on June 26, 2003;
Based on the working minutes between the two teams of experts from the Ministry of Trade of Vietnam Male and the Ministry of Trade of Laos on 17/6/2003;
After exchanging and reaching consensus with the Ministry of Finance in Circular No. 7398 TC/TCT dated 17/7/2003;
The Ministry of Trade supplements the list of 12 items along with their quantities and values of goods originating from Laos eligible for a 50% reduction in preferential import tariffs when imported into Vietnam in 2003 as prescribed in Joint Circular No. 54/2003/TTLT-BTC-BTM issued by the Ministry of Finance and the Ministry of Trade on June 3, 2003 as follows:
|
No. |
Goods Name |
Tariff code group |
Unit of Measurement |
Quantity - Value |
|
1 |
Logs, stumps, roots |
- |
cubic meters |
10.000 |
|
2 |
Granite |
2517 |
cubic meters |
100.000 |
|
3 |
White ants |
1301 |
ton |
100 |
|
4 |
Red ants |
1301 |
ton |
250 |
|
5 |
Processed rattan |
1401 |
ton |
2.000 |
|
6 |
Medicinal plants |
1211 |
ton |
250 |
|
7 |
Powdered bark for incense |
4401 |
ton |
300 |
|
8 |
Dried tobacco leaves |
2401 |
ton |
2.000 |
|
9 |
Soybean |
1201 |
ton |
3.000 |
|
10 |
Corn |
1005 |
ton |
1.000 |
|
11 |
Fruit juice, candy |
2009-1704 |
USD |
300.000 |
|
12 |
Paint |
3208-3209 |
USD |
300.000 |
This Circular takes effect fifteen days after its publication in the Official Gazette.
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