Fri. May 27th, 2022

Preferential import duty rates increase

On April 4, the Ministry of Finance issued Circular No38/2013/TT-BTC amending preferential import duty rates applicable to some commodities, including polymeric styrene in primary forms; synthetic filament yarn (other than sewing thread) not for retail sale, including synthetic monofilament of less than 67 decitex; tyre cord fabric made from high tenacity yarn of nylon or other polymides, polyesters or viscose rayon; and wire made from iron or non-alloy steel in the Preferential Import Tariff.

Accordingly, the preferential import duty rates applicable to the above commodities listed as taxable products in Section I, Annex II to Circular No193/2012/TT-BTC of November 15, 2012 of the Ministry of Finance will be higher.

From May 19, the preferential import duty rates applicable to the above commodities will be as follows: (i) The duty rate applicable to grains, high-impact polystyrene and others in the group of polymeric styrene in primary forms will be 5 per cent instead of 3 per cent as stipulated in Circular No193; (ii) elastomeric products in the synthetic filament yarn group, others in the tyre cord fabric group and copper alloy-coated high-carbon steel wire used in the manufacture of pneumatic rubber tires (bead wire) will be subject to the new tax rate of 3 per cent; and (iii) the preferential import duty on nylon-6 yarns will be increased from the current 5 per cent to 7 per cent.

Taking measures to protect the environment

The Government has requested ministries, ministerial-level and Government-related agencies and People’s committees of provinces and centrally run cities to ensure several new environmental protection measures.

According to Government Resolution 35/NQ-CP of March 18 on a number of urgent environmental issues, the seven measures include enhancing environmental protection at industrial parks and clusters and improving the quality of assessment of environmental protection requirements in strategies, plans and development projects; attaching importance to environmental protection in mineral exploitation activities; improving the environment for rural areas and craft villages; gradually addressing environmental pollution in big cities and river basins; strictly controlling scrap imports; effectively preventing the degradation of eco-systems; and raising the effectiveness and efficiency of the State management of environmental protection.

The Resolution demands responsible agencies to increase the inspection of the enforcement of environmental protection law at industrial parks and clusters. They must also resolutely suspend or ban the operation of enterprises that have made serious violations of environmental protection law; and make information on violations public.

The Government also requested increased control of the use of agricultural chemicals and more effective collection and treatment of residual livestock feed, fertilisers and pesticide packages, introduction of specific measures to tackle environmental pollution caused by solid waste discharged from rural areas and concentrated breeding activities.

Responsible agencies must also control pollution from transport vehicles and encourage mass transit and environmentally-friendly vehicles. — VNS

By vivian