Decision No. 28/2008/QD-BTC of the Ministry of Finance amends the preferential import tariff rate for jet engine fuel used in the aviation industry from 15% to 5%, effective 15 days after publication in the Official Gazette.
Scope of application
Enterprises importing jet engine fuel used in the aviation industry.
Key points
- Enterprises importing jet engine fuel used in the aviation industry → shall have the preferential import tariff rate reduced from 15% to 5%.
- This Decision shall take effect and apply to customs declarations for imported goods 15 days after its publication in the Official Gazette.
🌐 Social impact of this document
- Enterprises will save on tax costs, increase profits and competitiveness. Consumers may benefit through lower fuel prices.
- However, enterprises must comply with new customs declaration regulations after this decision takes effect.
❓ Frequently asked questions
What is the new tariff rate?
The preferential import tariff rate for jet engine fuel used in the aviation industry has been amended to 5%.
When does this Decision come into force?
This Decision shall take effect and apply to customs declarations for imported goods 15 days after its publication in the Official Gazette.
Who is subject to taxation?
Enterprises importing jet engine fuel used in the aviation industry.
What is the duration of application of this Decision?
This Decision shall take effect 15 days after publication in the Official Gazette, the duration of application is not specified in the document.
What penalties will enterprises face if they fail to comply with the new regulations?
This document does not specify sanctions for violations of preferential import tariffs regulations. Further reference to other legal documents is required for detailed information.
Full text
Pursuant to …;
REGARDING THE AMENDMENT OF THE IMPORT DUTY RATE FOR PREFERENTIAL IMPORT TAX ON CERTAIN ITEMS
USED AS TURBINE ENGINE FUEL IN THE AVIATION INDUSTRY
IN THE LIST OF PREFERENTIAL IMPORT TAX RATES
_______________________________________
THE MINISTER OF FINANCE
Pursuant to the Law on Export Tax and Import Tax No. 45/2005/QH11 dated June 14, 2005;
WHEREAS Decision No. 295/2007/NQ-UBTVQH12 dated September 28, 2007 of the Standing Committee of the National Assembly on the issuance of the Export Tax Tariff according to the List of Goods Subject to Tax and the Tax Rate Range for Each Group of Goods, the Preferential Import Tax Tariff according to the List of Goods Subject to Tax and the Preferential Tax Rate Range for Each Group of Goods;
WHEREAS Decree No. 149/2005/NĐ-CP dated December 8, 2005 of the Government detailing the implementation of the Law on Export Tax and Import Tax;
WHEREAS 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;
At the proposal of the Director of the Department of Tax Policy,
DECISION:
Article 1. AMENDS THE PREFERENTIAL IMPORT DUTY RATE FOR TURBINE ENGINE FUEL USED IN AVIATION (JET FUEL) BELONGING TO SUB-CATEGORIES 2710.19.13.00 AND 2710.19.14.00 AS PROVIDED IN THE PREFERENTIAL IMPORT TAX LIST ISSUED ALONG WITH DECISION NO. 106/2007/QD-BTC DATED DECEMBER 20, 2007 OF THE MINISTER OF FINANCE TO A NEW PREFERENTIAL IMPORT DUTY RATE OF 5% (FIVE PERCENT).
Article 2. THIS DECISION SHALL TAKE EFFECT AND BE APPLIED TO CUSTOMS DECLARATIONS FOR IMPORTED GOODS AFTER 15 DAYS FROM THE DATE OF PUBLICATION IN THE OFFICIAL GAZETTE.
DEPUTY MINISTER
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