Amendment to export tax rates and preferential import tax rates for certain goods from December 16, 2024 in Vietnam

Amendment to export tax rates and preferential import tax rates for certain goods from December 16, 2024 in Vietnam

Amend the export duty rates and preferential import tax rates for certain items specified in Appendix I - Export Tariff, Appendix II - Preferential Import Tariff as per the list of taxable items regulated in Article 3 of Decree 26/2023/ND-CP to the new export duty rates and preferential import tax rates as specified in Appendix I and Appendix II issued with Decree 144/2024/ND-CP.

For example, Chapter 98 - Code and preferential import tax rates for certain item groups and items in Section II of Appendix II issued with Decree 144/2024/ND-CP regarding imported parts and components for automobiles to implement Decision 229/QD-TTg dated February 4, 2016, on mechanisms and policies for implementing the Strategy and Planning for the development of the automotive industry as follows:

- Safety glass, laminated safety glass (thickness from 6 to 12 mm/multi-layer laminated glass to increase durability, can limit UV rays), used for trucks and passenger cars belonging to groups 87.02 and 87.04: 25%;

- Cylinder tubes used for automotive gearbox oil pipes: 15%;

- Leaf spring bushings for vehicles from 1.25 tons and above: 15%;

- Spare bushings for gear sets and gear assemblies, excluding toothed wheels, sprockets, and power transmission parts in separate forms; ball screws or roller screws; gearboxes and other speed-changing mechanisms, including torque converters: 15%;

- Brake hoses: 22%;

- Worm gear reducers: 20%;

- Other types:

+ Oil pipes used for automotive gearbox oil pipes: 20%;

+ Wheel rims: 25%;

+ Exhaust pipes: 25%.

Decree 144/2024/ND-CP takes effect from December 16, 2024.

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