Decision No. 116/2001/QD-BTC adjusts the preferential import tax rate for motorcycles based on the level of localization, applicable to import declarations from January 1, 2001. This document replaces previous regulations on preferential import tariffs for motorcycles.
Scope of application
Taxpayers, businesses engaged in importing motorcycles
Key points
- Domestic motorcycle manufacturers → are subject to a lower preferential import tax rate based on the level of localization (Article 1)
- Localization ratio from over 0% to 20% → must pay a preferential import tax rate of 60% (Article 1)
- Localization ratio from over 80% → must pay a preferential import tax rate of 3% (Article 1)
- This decision takes effect and applies to import declarations submitted from January 1, 2001
- Previous regulations contrary to this decision are abolished (Article 2)
🌐 Social impact of this document
- Domestic manufacturing enterprises benefit from reduced preferential import tariffs
- Consumers may purchase motorcycles at lower prices due to decreased import costs
- Import enterprises not engaging in localization will face higher taxes
❓ Frequently asked questions
What is the tax rate that domestic manufacturing enterprises with a localization ratio above 80% must pay?
3%
When does this decision take effect?
January 1, 2001
Full text
|
MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
|
Number: 116/2001/QT-BTC |
Hanoi, November 20, 2001 |
Pursuant to …;
ISSUED BY THE MINISTER OF FINANCE DECREE NO. 116/2001/QT/BTC ON NOVEMBER 20, 2001 REGARDING THE SUPPLEMENTATION AND AMENDMENT OF THE RATE OF DUTY FOR MOTORCYCLE IMPORT DUTY RATES UNDER THE TAX PREFERENCE POLICY AS PROVIDED IN THE IMPORT DUTY PREFERENCE TABLE ISSUED ACCOMPANYING DECREE NO. 1944/1998/QT/BTC OF DECEMBER 25, 1998 OF THE MINISTER OF FINANCE
THE MINISTER OF FINANCE
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;
BASED ON DECREE NO. 178/CP DATED OCTOBER 28, 1994 OF THE GOVERNMENT ON THE TASKS, POWERS AND ORGANIZATIONAL STRUCTURE OF THE MINISTRY OF FINANCE;
BASED ON THE IMPLEMENTATION SITUATION OF DECREE NO. 1944/1998/QT/BTC OF DECEMBER 25, 1998 OF THE MINISTER OF FINANCE ON THE ISSUE OF DETERMINING THE RATE OF DUTY FOR IMPORT DUTY PREFERENCE ACCORDING TO THE LEVEL OF DOMESTIC CONTENT FOR PRODUCTS AND PARTS BELONGING TO THE MECHANICAL-ELECTRICAL-ELECTRONICS INDUSTRY.
AFTER DISCUSSING WITH THE MINISTRY OF INDUSTRY AND THE GENERAL DEPARTMENT OF CUSTOMS
PURSUANT TO THE PROPOSAL OF THE DIRECTOR GENERAL OF THE STATE TAX ADMINISTRATION;
DECISION:
Article 1: SUPPLEMENT AND AMEND THE RATE OF DUTY FOR IMPORT DUTY PREFERENCE APPLIED TO MOTORCYCLES AS PROVIDED IN POINT 1.1 OF THE IMPORT DUTY PREFERENCE TABLE ISSUED ACCOMPANYING DECREE NO. 1944/1998/QT/BTC OF DECEMBER 25, 1998 OF THE MINISTER OF FINANCE AS FOLLOWS:
|
Level of domestic content achieved (%) |
Rate of duty under tax preference policy |
|
1- Over 0 to 20 |
60 |
|
2- Over 20 to 30 |
50 |
|
3- Over 30 to 40 |
40 |
|
4- Over 40 to 50 |
30 |
|
5- Over 50 to 60 |
20 |
|
6- Over 60 to 70 |
10 |
|
7- Over 70 to 80 |
5 |
|
8- Over 80 |
3 |
Article 2:This Decision shall take effect and be applied to import declarations submitted to customs authorities from January 1, 2001. Any previous provisions contrary to this Decision are hereby abolished.
|
|
Vu Van Ninh (Signed) |
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