Circular No. 111/2012/TT-BTC Issuing the List of Goods and Import Tariff Rates for the Application of Tariff Quotas

CIRCULAR

Issuing the List of Goods and Import Tariff Ratesto apply quota tariffs

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Pursuant to the Law on Export Tax and Import Tax No. 45/2005/QH11 dated June 14, 2005;

Pursuant to Resolution No. 295/2007/NQ-UBTVQH12 dated September 28, 2007 of the Standing Committee of the National Assembly on the issuance of the Export Tax Schedule according to the list of taxable goods categories and tax rate ranges for each category, the Preferential Import Tax Schedule according to the list of taxable goods categories and preferential tax rate ranges for each category;

Pursuant to Decree No. 87/2010/NĐ-CP dated August 13, 2010 of the Government providing details on the implementation of certain provisions of the Export and Import Tax Law;

Pursuant to Decree No. 12/2006/NĐ-CP dated January 23, 2006 of the Government detailing the implementation of the Law on Trade regarding international trade activities and foreign trade agency buying, selling, processing, and transiting goods;

The Minister of Finance promulgates this Circular amending and supplementing Clause 1, Article 15 and the attached forms of Circular No. 86/2013/TT-BTC dated June 27, 2013 of the Ministry of Finance concerning the application of preferential treatment regimes in customs administration for enterprises meeting the required conditions as follows:

At the proposal of Director of the Policy Department of Taxation;

The Minister of Finance issues this Circular guiding the implementation of the List of Goods and Import Tariff Rates for the application of quota tariffs on imported goods.

Article 1. List of Goods and Import Tariff Rates for Quota Application

Attached to this Circular is the List of Goods and Import Tariff Rates for the application of quota tariffs on imported goods (regardless of the origin of the goods).

Article 2. Quota Quantity and Applicable Tariff Rate

1. Annual import quota quantity as prescribed by the Ministry of Industry and Trade.

2. Imported goods exceeding the annual import quota quantity shall be subject to the import tariff rates specified in this Circular.

3. In cases where Vietnam has committed to preferential import tariff rates outside quotas under Free Trade Agreements that it has signed, and if the preferential import tariff rates outside quotas for goods listed in this Circular are lower than the import tariff rates outside quotas specified in this Circular, then the preferential import tariff rates outside quotas shall apply (if the conditions for enjoying such preferential import tariff rates are met) as stipulated in these Free Trade Agreements. If the preferential import tariff rates outside quotas are higher than the import tariff rates outside quotas specified in this Circular, then the import tariff rates outside quotas specified in this Circular shall apply.

4. Imported goods within the annual import quota quantity shall be subject to the import tariff rates specified in the current Preferential Import Tax Schedule or the preferential import tariff rates that Vietnam has committed to (if the conditions for enjoying such preferential import tariff rates are met).

Article 3. Effectiveness

This Circular takes effect from August 18, 2012, replacing Circular No. 188/2009/TT-BTC dated September 29, 2009 of the Ministry of Finance on the issuance of the List of Goods and Import Tariff Rates for the application of quota tariffs./.