Decision No. 2285/QD-BTC promulgates the regulation on the procedure for announcing world gasoline prices as the basis for applying preferential import tax rates for certain goods under Group 2710.

Pursuant to …;

Issuing regulations on the procedure for announcing world gasoline prices as the basis for applying preferential import tax rates for certain items under Group 2710

 THE MINISTER OF FINANCE

 Pursuant to Decree No. 77/2003/ND-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance.

Pursuant to Decision No. 118/2003/QD-BTC of the Minister of Finance dated July 29, 2003 on the functions, tasks, powers, and organizational structure of the Price Management Department.

Pursuant to Article 2 of Decision No. 40/2007/QD-BTC dated May 31, 2007 of the Minister of Finance on the issuance of preferential import tax rates for certain items under Group 2710 in the Preferential Import Tariff Schedule.

At the proposal of the Director of the Price Management Department and the heads of relevant units under the Ministry.

DECIDE AS FOLLOWS:

Article 1: To issue with this decision the Regulations on the procedure for announcing world gasoline prices as the basis for applying preferential import tax rates as prescribed in Decision No. 40/2007/QD-BTC dated May 31, 2007 of the Minister of Finance.

Article 2: This Decision shall take effect from the date of signing.

Article 3: The Director of the Price Management Department, the Director of the Tax Policy Department, the General Director of the Customs General Department, the Director of the Information Technology and Financial Statistics Department, and the heads of relevant units under the Ministry shall be responsible for implementing this decision.

REGULATIONS

ON THE PROCEDURE FOR ANNOUNCING WORLD GASOLINE PRICES AS THE BASIS FOR APPLYING PREFERENTIAL IMPORT TAX RATES FOR CERTAIN ITEMS UNDER GROUP 2710

(Issued together with Decision No. 2285/QD-BTC dated July 5, 2007 of the Minister of Finance)

Article 1: World gasoline prices announced by the Price Management Department to serve as the basis for applying preferential import tax rates for gasoline and other derivatives under Group 2710 in the Preferential Import Tariff Schedule shall be based on the price of RON 92 gasoline on the Singapore market published by the PLATT's Bulletin of the McGraw-Hill Company (hereinafter referred to as the price of RON 92 gasoline on the Singapore market).

Article 2: Starting from the day when the price of RON 92 gasoline on the Singapore market published by the PLATT's Bulletin fluctuates upwards or downwards, if within ten consecutive days (the day the PLATT's Bulletin announces the price and calculated according to working days stipulated for administrative agencies in Vietnam), the price trend clearly shows an increase or decrease over two days at the end of the period, causing the arithmetic average price of the ten-day period to change from one price range to another in the list of gasoline and other derivatives specified in Article 1 of Decision No. 40/2007/QD-BTC dated May 31, 2007 of the Minister of Finance, the Price Management Department shall take the lead in consulting with the Tax Policy Department to report quickly to the leadership of the Ministry of Finance the expected price of RON 92 gasoline on the Singapore market to be announced as the basis for applying the preferential import tax rate for gasoline and other derivatives.

Article 3: After obtaining the approval of the leadership of the Ministry of Finance (within¹/₂ days), the Director of the Price Management Department shall be responsible for signing on behalf of the Minister of Finance to announce the price of RON 92 gasoline as stipulated in the above Articles 1 and 2.

Article 4: The price of gasoline announced by the Director of the Price Management Department as the basis for applying the preferential import tax rate for gasoline and other derivatives shall be signed during regular working hours and applied immediately after the announcement date.

Article 5: Responsibilities of relevant units under the Ministry of Finance:

- The Price Management Department shall be responsible for transferring the above Notification file to the Department of Information Technology and Financial Statistics via the email address: [email protected], and sending the formal Notification by express official letter to the General Department of Customs and related units, and key enterprises trading in gasoline within 30 minutes from the time of signing the Notification on the price of RON92 gasoline on the Singapore market.

- The Department of Information Technology and Financial Statistics shall be responsible for immediately transmitting the file on the price of RON92 gasoline on the Singapore market to the General Department of Customs and posting it on the Ministry of Finance's website no later than 30 minutes after receiving the price notification file for RON92 gasoline on the Singapore market transferred by the Price Management Department.

- The General Department of Customs shall be responsible for immediately transmitting the file to the local Customs Departments applying preferential tariff rates and import duties for petroleum products and other derivatives in subheading 2710, as stipulated in Decision No. 40/2007/QD-BTC dated May 31, 2007 of the Minister of Finance, corresponding to the price of RON92 gasoline notified by the Price Management Department, within 30 minutes from the time of receipt of the "Notification on the price of RON92 gasoline on the Singapore market" from the Price Management Department./.