Adjustment of export tax rates for some Vietnamese products from July 1, 2022

Bao Ngoc

13:36, 16/11/2021

On November 15, 2021, the Government of Vietnam promulgated Decree 101/2021/ND-CP amending and supplementing a number of articles of Decree 122/2016/ND-CP and Decree 57/2020/ND-CP on Export Tariff, Preferential Import Tariff, List of goods and absolute tax rates, mixed tax, import tax outside the tariff quota.

According to the regulations, adjusting the export tax rates and preferential import tax rates for a number of groups of goods specified in Appendix I - Export Tariff according to the List of taxable goods and Appendix II - Preferential import tariffs according to the List of taxable goods specified in Clause 1, Article 2 of Decree 57/2020/ND-CP of Vietnam

For example, for raw or rough-hewn stone products (code 2515.11.00); slab stone (code 2515.12.20); the tax rate is adjusted according to the following schedule:

+ From July 1, 2022, the tax rate of 20% will be applied;

+ From July 1, 2023, the tax rate of 25% will be applied;

+ From July 1, 2024, the tax rate of 30% will be applied;

(Currently, Decree 57/2020/ND-CP of Vietnam stipulates a tax rate of 17%).

Besides, adding white marble products (code 2515.12.10.10) will apply a tax rate of 30%.

See details in Decree 101/2021/ND-CP of Vietnam effective from December 30, 2021. The export tax rate for stone products shall comply with the above-mentioned roadmap.

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