Decision No. 16/2005/QD-BTC of the Ministry of Finance abolishes import tariff rates for certain goods subject to tariff quotas, while stipulating that these goods will still be taxed according to current regulations. The Decision takes effect fifteen days from the date of publication in the Official Gazette.
Key points
- The Ministry of Finance abolishes import tariff rates for certain goods subject to tariff quotas, including milk and cream, Corn (HS Code 0401, 0402, 1005), Uncombed or Undressed Cotton Fiber, Waste Cotton, Combed or Carded Cotton Fiber (HS Code 5201, 5202, 5203).
- These goods will still be subject to import tariffs according to current regulations.
🌐 Social impact of this document
- Positive impact: Reducing the burden of import costs for businesses dealing with goods whose import tariff rates have been abolished for the application of tariff quotas.
- Negative impact: Businesses need to adjust their import plans and manage costs according to new regulations.
❓ Frequently asked questions
Which goods have had their import tariff rates abolished for the application of tariff quotas?
The Ministry of Finance has abolished import tariff rates for milk and cream, Corn (HS Code 0401, 0402, 1005), Uncombed or Undressed Cotton Fiber, Waste Cotton, Combed or Carded Cotton Fiber (HS Code 5201, 5202, 5203).
How will these goods subject to the abolition of import tariff rates continue to be taxed?
These goods will still be subject to import tariffs according to current regulations.
When does the Decision take effect?
The Decision takes effect fifteen days from the date of publication in the Official Gazette.
To which category of goods do the goods subject to the abolition of import tariff rates belong?
The goods subject to the abolition of import tariff rates include milk and cream, Corn (HS Code 0401, 0402, 1005), Uncombed or Undressed Cotton Fiber, Waste Cotton, Combed or Carded Cotton Fiber (HS Code 5201, 5202, 5203).
Full text
DECISION OF THE MINISTER OF FINANCE
REGARDING THE ADJUSTMENT OF THE LIST OF GOODS AND IMPORT DUTY RATES
FOR IMPLEMENTATION OF QUOTA DUTIES
THE MINISTER OF FINANCE
Pursuant to the Law on Export Tax and Import Tax dated December 26, 1991 and the Laws amending and supplementing the Law on Export Tax and Import Tax dated July 5, 1993; Decision No. 04/1998/QH10 dated May 20, 1998;
Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies;
Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003 of the Government on the tasks, powers, and organizational structure of the Ministry of Finance;
BASED ON THE OPINION OF THE PRIME MINISTER IN DECISION NO. 46/2005/QD-TTg OF MARCH 3, 2005 ON THE ADJUSTMENT OF THE LIST OF IMPORTED GOODS APPLYING QUOTA DUTIES;
At the proposal of the Director of the Department of Tax Policy,
DECISION:
Article 1. ABOLISH THE IMPORT DUTY RATES FOR QUOTA DUTIES APPLICABLE TO THE FOLLOWING ITEMS:
- MILK AND CREAM, UNCONCENTRATED, WITHOUT ADDED SUGAR OR OTHER SWEETENERS (HS CODE 0401); MILK AND CREAM, CONCENTRATED OR WITH ADDED SUGAR OR OTHER SWEETENERS (HS CODE 0402); CORN (HS CODE 1005) AS PROVIDED IN THE LIST OF GOODS AND IMPORT DUTY RATES FOR IMPLEMENTATION OF QUOTA DUTIES ISSUED ALONG WITH DECISION NO. 36/2004/QD-BTC OF APRIL 15, 2004 OF THE MINISTER OF FINANCE. - COTTON WASTE, UNCOMBED OR SLIGHTLY COMBED (HS CODE 5201); TEXTILE WASTE INCLUDING WASTE YARN AND RECYCLED COTTON (HS CODE 5202); COTTON WASTE, HEAVILY COMBED (HS CODE 5203) AS PROVIDED IN THE LIST OF GOODS AND IMPORT DUTY RATES FOR IMPLEMENTATION OF QUOTA DUTIES ISSUED ALONG WITH DECISION NO. 126/2003/QD-BTC OF AUGUST 7, 2003 OF THE MINISTER OF FINANCE.
Article 2. THE ITEMS MENTIONED IN ARTICLE 1 OF THIS DECISION SHALL BE SUBJECT TO IMPORT DUTIES IN ACCORDANCE WITH CURRENT REGULATIONS.
Article 3. This Decision takes effect fifteen days from the date of publication in the Official Gazette./.
DEPUTY MINISTER
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