Decision No. 40/2007/QĐ-BTC on the issuance of import tariff rates for certain items under subheading 2710 in the Import Tariff for Preferential Treatment

Pursuant to …;

REGARDING THE ISSUANCE OF THE IMPORT DUTY RATE FOR CERTAIN ITEMS IN GROUP 2710 IN THE PREFERENTIAL IMPORT TAX SCHEDULE

THE MINISTER OF FINANCE

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

Pursuant to Resolution No. 977/2005/NQ-UBTVQH11 dated December 13, 2005 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, and 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. 149/2005/NĐ-CP dated December 8, 2005 of the Government detailing the implementation of the Law on Export Tax and Import Tax;
Pursuant to Decree No. 55/2007/NĐ-CP dated April 6, 2007 of the Government on petroleum trading;

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 stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance.

After consultation and agreement with the Ministry of Trade and upon the proposal of the Director of the Department of Tax Policy,

DECISION:

Article 1. Attached hereto is the List and Preferential Import Tax Rate based on the world gasoline price for gasoline and other derivatives in Group 2710 in the Preferential Import Tax Schedule. The world gasoline price used as the basis for applying the preferential import tax rate is the price of RON 92 gasoline on the Singapore market (PLATT’S price).

Article 2.

1. When the world gasoline price fluctuates and tends to increase or decrease, causing the average price over ten consecutive days to change from one price range to another as specified in the List under Article 1 of this Decision, the preferential import tax rate for gasoline and other derivatives shall be applied according to the corresponding tax rate for the new price range.

2. The average price stipulated in Clause 1 of this Article shall be announced by the Price Management Agency (Ministry of Finance) and shall only serve as the basis for applying the corresponding preferential import tax rate as provided for in Article 1. The customs value of actual imported consignments shall be determined in accordance with the relevant legal documents on export tax and import tax.

3. The preferential import tax rate for gasoline and other derivatives shall apply to customs declarations for imported goods registered with customs authorities from the date the Price Management Agency announces the average price.

Article 3. This Decision takes effect fifteen days after its publication in the Official Gazette. Other Decisions of the Minister of Finance regarding the issuance of import tax rates for certain items in Group 2710 in the Preferential Import Tax Schedule that relate to the preferential import tax rate for gasoline and other derivatives as stipulated in this Decision are hereby repealed./.