What are 13 exported goods subject to an increase in export duty in Vietnam from January 1, 2025?

What are 13 exported goods subject to an increase in export duty in Vietnam from January 1, 2025?

Pursuant to Appendix 1 of the Export Tariff according to the list of taxable goods issued together with Decree 26/2023/ND-CP, 13 exported goods will see an increase in the export duty rate from 15% to 20% starting January 1, 2025, including:

(1) Tiles, paving stones, curb stones, and flagstones, of natural stone (except slate), HS code 6801.00.00;

(2) Paving stones, blocks, and similar products, with or without rectangular (including square) shapes, whose largest surface area can fit into a square with sides less than 7 cm; artificially colored granules, chippings, and powders of stones, HS code 6802.10.00;

(3) Marble, travertine, and alabaster, HS code 6802.21.00;

(4) Granite, HS code 6802.23.00;

(5) Other limestone, HS code 6802.29.10;

(6) Other types, HS code 6802.29.90 (under subheading 6802.2* - Monumental or building stones and products made from them, merely cut or sawn, with smooth or flat surfaces);

(7) Other types of marble (except Monumental or building stones and products made from them, merely cut or sawn, with smooth or flat surfaces, and paving stones, blocks, and similar products, with or without rectangular (including square) shapes, whose largest surface area can fit into a square with sides less than 7 cm; artificially colored granules, chippings, and powders of stones), HS code 6802.91.10;

(8) Other travertine and alabaster (except Monumental or building stones and products made from them, merely cut or sawn, with smooth or flat surfaces, and paving stones, blocks, and similar products, with or without rectangular (including square) shapes, whose largest surface area can fit into a square with sides less than 7 cm; artificially colored granules, chippings, and powders of stones), HS code 6802.91.90;

(9) Other limestone, HS code 6802.92.00;

(10) Granite, polished plates, HS code 6802.93.10;

(11) Other types of granite, HS code 6802.93.90;

(12) Other stones, under HS code 6802.99.00;

(13) Processed slate and products made of slate or conglomerated slate (from compressed slate powder), HS code 6803.00.00.

Download Appendix 1 of the Export Tariff according to the list of taxable goods issued with Decree 26/2023/ND-CP.

What are 13 exported goods subject to an increase in export duty in Vietnam from January 1, 2025? (Image from the Internet)

What is the basis for export duty in Vietnam?

Based on Article 5, Article 6 of the Law on Export and Import duties 2016 which provides the basis for computing export duty on goods using percentage-based tax calculation, absolute tax method, or hybrid tax calculation as follows:

(1) For goods applying percentage-based tax calculation:

- The amount of export duty is determined based on the taxable value and the tax rate percentage (%) of each commodity at the time of taxation.

- export duty rates are specifically determined for each commodity in the export tariff.

In cases where goods are exported to a country, group of countries, or territory having a preferential agreement on export taxes with Vietnam, such agreements are applicable.

(2) For goods applying the absolute tax method:

The tax amount using the absolute tax method for exported goods is determined based on the actual quantity of exported goods and the absolute tax rate specified per unit of goods at the time of taxation.

(3) For goods applying the hybrid tax method:

The tax amount using the hybrid tax method for exported goods is determined as the total tax amount using the percentage rate plus the absolute tax amount.

When is the deadline for paying export duty in Vietnam?

According to Article 9 of the Law on Export and Import duties 2016, the deadline for paying export duty is as follows:

- Taxable exported goods must pay taxes before customs clearance or release according to the provisions of the Customs Law 2014, except in cases specified in Clause 2, Article 9 of the Law on Export and Import duties 2016.

In cases where a credit institution guarantees the tax amount due, clearance or release of goods is allowed, but late payment fees must be settled according to the Tax Administration Law 2019 from the date of clearance or release to the date of tax payment. The maximum guarantee period is 30 days from the date of customs declaration registration.

If a credit guarantee has been provided but the guarantee period ends and the taxpayer has not paid the tax and late payment fees, the guarantor must pay the full tax and late payment fees on behalf of the taxpayer.

- Taxpayers given priority policies under the Customs Law 2014 must settle taxes for customs declarations already cleared or released within the month no later than the tenth day of the following month. If overdue, the taxpayer must settle the full tax debt and late payment fees under the Tax Administration Law 2019.