The Ministry of Finance has just finalized a draft decree amending and supplementing the Government's Decree No. 134/2016 / ND-CP detailing articles and measures to implement the Law on Import Tax and Export Tax. One important content in this draft is that the Ministry of Finance proposes tax exemptions for imported and exported goods, to social security, overcome consequences of natural disasters and epidemics.

Illustrative photo 

The draft decree clearly states that imported and exported goods for the purpose of ensuring social security, overcoming consequences of natural disasters and epidemics and other special purposes are exempt from import tax and export tax under the provisions of Clause 23, Article 16 of the Law on Import Tax and Export Tax, including five groups:

First, goods that cannot be produced domestically and must be imported to use for projects under the Government’s programme on social security.

Second, goods that cannot be produced domestically and must be imported to overcome the consequences of natural disasters and epidemics.

Third, agarwood produced from aquilaria malaccensis and python skin originated from breeding

Fourth, unprocessed agricultural products on the list of goods specified in Appendix VIII issued with this decree, are invested or grown by Vietnamese citizens or business households in Cambodia's provinces bordering Vietnam, or imported through border gates under customs operation areas to be used as raw materials for production in Vietnam.

Goods repurchased or invested in Cambodia's provinces not bordering Vietnam are not exempt from import tax as prescribed at this point.

Fifth, imported and exported goods in other special cases under a Prime Minister decision on exemption of export tax or import tax on the basis of the request of the Ministry of Finance.

Applications for tax exemption for imported or exported goods in other special cases include: written request for import tax exemption from the ministry, ministerial-level agencies, provincial / municipal People's Committees. or organization or individual, clearly stating the reason, quantity, type and value of the goods, the tax amount requested for exemption: one original; one original list of exported and imported goods requested for tax exemption according to Form No. 04 in Appendix VII to this decree.

Taxpayers must submit the application for tax exemption according to regulations to the finance ministry. Within 30 days from the date of receiving the complete application for tax exemption, the Ministry of Finance will assess the application and report to the Prime Minister for consideration and decision enclosed with the list of goods requested for the tax exemption.

Other special cases need to be consulted with concerned ministries and agencies; the assessment time may be extended but must not exceed 40 days from receiving the complete application for tax exemption.