New Export Tariff on Gold Phosphorus

New Export Tariff on Gold Phosphorus 19/04/2011 09:49:00 775

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The Ministry of Finance recently promulgated Circular 20/2011/TT-BTC adding yellow phosphorus (code: 2804.70.00.00) into the list of taxed goods of the Export Tariff in Appendix I enclosed to Circular 184/2010/TT-BTC dated November 15, 2010 of the Ministry of Finance. Accordingly, the export tax rate applied to yellow phosphorus will be five percent.

Yellow phosphorus is processed from apatite ore with a high P2P5 content. Vietnam began to make this kind of product in 2004. Currently, apatite ore is subject to tax rates of 10, 15 and 20 percent depending on the kind of the product.

 

More than one month ago, the Ministry of Finance proposed a new import tax rate applied to yellow phosphorus, which may be as high as 15 percent. However, under Circular 20/2011/TT-BTC, the export tax rate applied to yellow phosphorus is 10 percent.

 

This circular will take effect on April 3, 2011./.