Circular No. 51/2016/TT-BTC amends and supplements the list of commodity groups and preferential import tariff rates for iron or steel used to manufacture tire rings under Chapter 98 of the Preferential Import Tariff Schedule. This document provides detailed provisions on the conditions for applying preferential import tariff rates for specific goods.
Scope of application
Importers of iron or steel for manufacturing tire rings
Key points
- Group 98.10: Iron or steel for manufacturing tire rings shall be subject to a tax rate of 0% (Article 2).
- Non-alloy steel bars and rods with a circular cross-section diameter less than 14 mm for manufacturing tire rings shall be exempt from import duties (Article 2).
- Steel wires for manufacturing tire rings shall also be exempt from import duties (Article 2).
- This document takes effect from May 2, 2016.
- Goods belonging to Group 98.10 must meet the conditions stipulated in Article 1 to apply the preferential tax rate (Article 1).
🌐 Social impact of this document
- Reduces financial burden for enterprises importing iron and steel for manufacturing tire rings.
- Increases competitiveness of domestic enterprises using imported raw materials.
- May lead to an increase in the volume of imported iron and steel for manufacturing tire rings.
❓ Frequently asked questions
Which goods are exempt from import duties?
Non-alloy steel bars and rods with a diameter under 14 mm for manufacturing tire rings and steel wires for manufacturing tire rings.
What is the applicable tax rate for iron and steel products for manufacturing tire rings?
Tax rate of 0%.
When does this document take effect?
May 2, 2016.
Full text
CIRCULAR
Amending and supplementing the list of commodity groups and preferential import tariff rates for iron or steel products used to manufacture tire beads under Chapter 98 of the Preferential Import Tariff Schedule issued together with Circular No. 182/2015/TT-BTC dated November 16, 2015 of the Minister of Finance.
preferential tariff rate specifically for iron or steel products used to produce tire beads
as set out in Chapter 98 of the Import Tariff for Preferential Taxation issued together with
and Circular No. 182/2015/TT-BTC dated November 16, 2015 of the Minister of Finance.
__________________
Pursuant to the Law on Export Tax and Import Tax No. 45/2005/QH11 dated June 14, 2005;
Pursuant to Resolution No. 295/2007/NQ-UBTVQH12 dated September 28, 2007 of the Standing Committee of the National Assembly on the issuance of the Export Tariff Schedule according to the list of taxable commodity groups and tax rate brackets for each group, and the Preferential Import Tariff Schedule according to the list of taxable commodity groups and preferential tax rate brackets for each group;
Pursuant to Decree No. 87/2010/NĐ-CP dated August 13, 2010 of the Government detailing certain provisions of the Law on Export Tax and Import Tax;
Pursuant to Decree No. 215/2013/NĐ-CP dated December 23, 2013 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Upon the proposal of the Director of the Tax Policy Department,
The Minister of Finance issues this Circular amending and supplementing the list of commodity groups and preferential import tariff rates for iron or steel products used to manufacture tire beads under Chapter 98 of the Preferential Import Tariff Schedule issued together with Circular No. 182/2015/TT-BTC dated November 16, 2015 of the Minister of Finance.
Article 1. Amending and supplementing Item I - Explanation and Conditions for Application of Preferential Import Tariff Rates at Chapter 98
Amending Point 1.8 Clause 1 Item I - Explanation and Conditions for Application of Preferential Import Tariff Rates at Chapter 98 of the Preferential Import Tariff Schedule issued together with Circular No. 182/2015/TT-BTC dated November 16, 2015 of the Minister of Finance as follows:
"1.8. Group 98.10: Iron or steel for manufacturing tire beads"
Article 2. Amending and supplementing Item II - List of Commodity Groups and Preferential Import Tariff Rates at Chapter 98
Amending and supplementing Group 98.10 in Item II - List of Commodity Groups and Preferential Import Tariff Rates at Chapter 98 of the Preferential Import Tariff Schedule issued together with Circular No. 182/2015/TT-BTC dated November 16, 2015 of the Minister of Finance as follows:
|
Item Code |
Description of Goods |
Corresponding code in Item I of Appendix II |
Tax Rate (%) |
||||
|
98.10 |
Iron or steel for manufacturing tire beads. |
||||||
|
9810 |
00 |
10 |
- Non-alloyed iron or steel in bars and rods, in coils of uneven winding, hot-rolled, with a cross-sectional diameter less than 14 mm for manufacturing tire beads |
7213 |
91 |
90 |
0 |
|
9810 |
00 |
90 |
- Products made of iron or steel wire for manufacturing tire beads |
7326 |
20 |
90 |
0 |
Article 2. Effective Date
This Circular takes effect from May 2, 2016.
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