DECISION

ON PROMULGATING IMPORT TAX RATES OF A NUMBER OF COMMODITY ITEMS UNDER HEADING NO. 2710 IN THE PREFERENTIAL IMPORT TARIFF

THE MINISTER OF FINANCE

Pursuant to Law on Export Tax and Import Tax No. 45/2005/QH11 dated June 14, 2005;
Pursuant to Resolution No. 977/2005/NQ-UBTVQH11 dated December 13, 2005 of the National Assembly Standing Committee promulgating the export tariff according to the List of taxable commodity groups and tax rate bracket on each commodity group, the preferential import tariff according to the List of taxable commodity groups and preferential tax rate bracket on each commodity group; 
Pursuant to Decree No.149/2005/ND-CP dated December 8, 2005 of the Government detailing the implementation of the Law on Export Tax and Import Tax;
Pursuant to Decree No. 55/2007/ND-CP dated April 6, 2007 of the Government on oil and petrol trading;
Pursuant to Decree No.86/2002/ND-CP dated November 5, 2002 of the Government defining the functions, tasks, powers and organizational structures of the ministries and ministerial-level agencies;
Pursuant to Decree No.77/2003/ND-CP dated July 1, 2003 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
After consulting with the Ministry of Trade and at the proposal of the Director of the Tax Policy Department,

DECIDES:

Article 1. 

To promulgate together with this Decision the List and the preferential import tax rates according to the world prices of petrol and other products under Heading No.2710 in the Preferential Import Tariff. The world petrol price used as the basis for applying the preferential import tax rates is the RON 92 petrol price in the Singapore market (PLATT’s price).

Article 2.  

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2. The average price is stipulated at Item 1 of this Article announced by the Price Management Department (the Ministry of Finance) and is used as a basis for application of corresponding preferential import tax rates according to the stipulations in Article 1. The value for tax calculation of actual import goods lots shall comply with the provisions of Law on Import Tax and Export Tax.

3. The preferential import tax rates for petrol and other products shall apply to Declarations of import goods registered at the customs offices as from the date of receiving the announcement of the Price Management Department on average price.

Article 3.

This Decision takes effect 15 days after its publication in CONG BAO.

To annul stipulations in other decisions of the Ministry of Finance on promulgating import tax rates of a number of commodity items under Heading No. 2710 in the Preferential Import Tariff, which is related to the preferential import tax rates on petrol and other products stipulated in this Decision.

FOR THE MINISTER OF FINANCE
VICE MINISTER




Truong Chi Trung

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OF AMENDED PREFERENTIAL IMPORT TAX RATES OF COMMODITY ITEMS UNDER HEADING No. 2710
(Issued together with Decision No. 40/2007/QD-BTC dated May 31, 2007 of the Minister of Finance)

Codes

Description of commodity groups and items 

Tax rates (%)

2710

Petroleum oils and oils obtained from bituminous minerals, excluding crude; preparations not elsewhere specified or included, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils are the basic constituents of the preparations; waste oils 

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- Petroleum oils and oils obtained from bituminous minerals, excluding crude; preparations not elsewhere specified or included, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils are the basic constituents of the preparations, excluding waste oils: 

2710

11

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--Light oils and preparations thereof:   

2710

11

11

00

---Lead engine petrol, high class  

20

2710

...

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12

00

---Non-lead engine petrol, high class  

20

2710

11

13

00

--- Lead engine petrol, ordinary class  

...

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...

2710

11

14

00

--- Non-lead engine petrol, ordinary class  

20

2710

11

15

...

...

...

---Other engine petrol, leaded  

20

2710

11

16

00

---Other engine petrol, non-leaded  

20

2710

...

...

...

17

00

--- Aviation spirit

20

2710

11

18

00

--- Tetrapropylene

...

...

...

2710

11

21

00

--- White spirit

20

2710

11

22

...

...

...

--- Spirit containing by less than 1% aromatic substances

20

2710

11

23

00

---Other spirits

20

2710

...

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...

24

00

--- Naptha, reformate and other preparations for making petrol

20

2710

11

25

00

--- Other light oils

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2710

11

29

00

--- Other

20

Level 1 (0%): apply when the average Platt’s price of RON 92 petrol is from US$ 89/barrel onward.

Level 2 (5%): apply when the average Platt’s price of RON 92 petrol is from US$ 83/barrel to US$ 89/barrel.

Level 3 (10%): apply when the average Platt’s price of RON 92 petrol is from US$ 78/barrel to US$ 83/barrel.

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Level 5 (20%): apply when the average Platt’s price of RON 92 petrol is under US$ 72/barrel.