Increased Import Tariffs on Many Kinds of Food

Increased Import Tariffs on Many Kinds of Food 27/09/2010 10:12:00 347

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The Ministry of Finance recently made public Circular 133/2010/TT-BTC regulating that the import tariffs on many kinds of food will increase as of October 24. The highest 40 percent import tariff will be applied to grapefruit, meat, edible meat byproducts and curried chicken. Meat-mixed products and meat byproducts will be subject to the 38 percent import tariff. Canned food made from buffalo meat and beef, and sheep curry will pay 37 percent VAT.

Food made from raw powder, refined powder or malt extract with 40 percent to less than 50 percent of the total weight being cocoa and chocolate will be subject to the 24 percent import tariff.

 

Prior to that, Finance Ministry Circular 216/2009/TT-BTC dated November 12, 2009, regulates that the highest VAT is 31 percent on fresh/frozen buffalo meat and beef, 27 percent on fresh/frozen pork, 7 percent on sheep meat and goat meat, and 10 percent on other kinds of imported meat and edible byproducts made from primates and reptiles including snakes and turtles (the modified tariff will be 14 percent)./.

 

Source: VEN