This Decision amends the import tax rate for gold in bar, ingot, sheet, leaf, and strip forms from the old rate to a new rate of 5%, and for other types at 1%. This provision takes effect from December 1, 1997.
Scope of application
Gold importer
Key points
- The importer of gold in bar, ingot, sheet, leaf, and strip forms must pay the new tax rate of 5% (Article 1).
- The importer of gold types other than bars, ingots, sheets, leaves, and strips must pay the new tax rate of 1% (Article 1).
- Gold trading enterprises will bear additional import tax costs due to the increase in the tax rate.
- Consumers may be affected by higher gold prices due to increased import tax costs.
🌐 Social impact of this document
- Gold trading enterprises will bear additional import tax costs due to the increase in the tax rate.
- Consumers may be affected by higher gold prices due to increased import tax costs.
❓ Frequently asked questions
What is the new import tax rate for gold in bar, ingot, sheet, leaf, and strip forms?
5%
What is the new import tax rate applied to gold types other than bars, ingots, sheets, leaves, and strips?
1%
Full text
|
MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
|
NUMBER: 920-TC/QĐ/TCT |
HA NOI, November 11, 1997 |
Pursuant to …;
REGARDING THE AMENDMENT OF THE RATE OF IMPORT DUTY FOR THE GROUP OF GOLD ITEMS
THE MINISTER OF FINANCE
Pursuant to Article 8 of the Law on Export Tax and Import Tax adopted by the National Assembly on December 26, 1991;
Pursuant to the tax rate framework stipulated in the Import Tariff attached to Resolution No. 537a/NQ-HĐNN8 dated February 22, 1992 of the State Council;
Pursuant to the authority stipulated in Article 3 of Decision No. 280/TTg dated May 28, 1994 of the Prime Minister regarding the issuance of the Export Tax List and the Import Tax List attached to Decree No. 54/CP;
Based on the business situation of gold items;
DECISION:
Article 1: Amending the rate of import duty for the group of items with code number 7108.00 "Gold (including gold plated with platinum) not worked or semi-manufactured or in powder form; detailed code 7108.00.10 - Gold in bar, ingot, sheet, leaf, and strip form" as stipulated in Decision No. 257 TC/QĐ/TCT dated March 31, 1997 of the Minister of Finance to the new rate of import duty as follows:
|
Code Number |
Group, item |
Rate of duty (%) |
|
7108.00 |
Gold (including gold plated with platinum) not worked or semi-manufactured or in powder form |
|
|
7108.00.10 |
- Gold in bar, ingot, sheet, leaf, and strip form |
5 |
|
7108.00.90 |
- Other |
1 |
Article 2: This Decision shall take effect and be applied to all Customs Declaration Forms for imported goods registered with the Customs authorities starting from December 1, 1997.
|
|
Vu Mong Giao (Signed) |
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