Circular No. 95/2011/TT-BTC amends the export tax rate for scrap and waste steel products under subheading 7204. The new tax rate will be applied from August 18, 2011.
Scope of application
Export enterprises of scrap and waste steel products under subheading 7204.
Key points
- Enterprises → shall pay export tax at a rate of 15% for stainless steel scrap and waste steel products (item description number TT 51);
- Enterprises → shall pay export tax at a rate of 22% for other types of scrap and waste steel products (item description number TT 51);
🌐 Social impact of this document
- Positive impact: Export enterprises of scrap and waste steel products will have to pay higher taxes than before, contributing to increased revenue for the state budget.
- Negative impact: Export costs for enterprises will increase, potentially affecting their competitiveness in the international market.
❓ Frequently asked questions
What is the new tax rate?
The new tax rate for stainless steel scrap and waste steel products is 15%, while other types are subject to a 22% rate.
When does this Circular take effect?
Circular No. 95/2011/TT-BTC takes effect from August 18, 2011.
Which goods are subject to a 15% tax rate?
Stainless steel scrap and waste steel products (item description number TT 51) are subject to a 15% tax rate.
Which goods are subject to a 22% tax rate?
Other types of scrap and waste steel products (item description number TT 51) are subject to a 22% tax rate.
Is export tax required for all types of scrap and waste steel products?
No, only two specific types of scrap and waste steel products are subject to tax rates: stainless steel (15%) and other types (22%).
Full text
CIRCULAR
Amending the export tax rate for scrap and waste iron and steel products under subheading 7204 in the Export Tariff
_______________________________________
Pursuant to the Law on Export Tax and Import Tax dated June 14, 2005;
Pursuant to Resolution No. 710/2008/NQ-UBTVQH12 dated November 22, 2008 of the Standing Committee of the National Assembly amending Resolution No. 295/2007/NQ-UBTVQH12 dated September 28, 2007 on the issuance of the Export Tariff based on the list of taxable goods and the tax rate range for each category of goods, and the Preferential Import Tariff based on the list of taxable goods and the preferential tax rate range for each category of goods;
Pursuant to Decree No. 87/2010/NĐ-CP dated August 13, 2010 of the Government detailing certain provisions of the Law on Export Duties and Import Duties;
Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
The Ministry of Finance amends the export tax rate for scrap and waste iron and steel products under subheading 7204 in the Export Tariff as follows:
Article 1. Export tax rate.
Amending the export tax rate for scrap and waste iron and steel products under subheading 7204 as stipulated in the Export Tariff based on the list of taxable goods issued together with Circular No. 184/2010/TT-BTC dated November 15, 2010 of the Ministry of Finance regarding the tax rates of the Export Tariff and the Preferential Import Tariff based on the list of taxable goods as follows:
|
Serial Number |
Description of Goods |
Belonging to the following groups and subgroups |
Tax Rate (%) |
|||
|
51 |
Scrap and waste iron and steel (excluding turnings, filings, sawdust, shavings, powder, and ground material of steel, whether or not compressed into blocks or packed into bundles, cakes, or bales). |
|
|
|
|
|
|
|
- Stainless steel |
7204 |
21 |
00 |
00 |
15% |
|
|
- Other |
7204 |
|
|
|
22% |
Article 2. Effective Date.
This Circular takes effect from August 18, 2011./.
DEPUTY MINISTER
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