Steel cable items are not exempt from value-added tax

The General Department of Customs says that steel cable products are not eligible for a value-added tax reduction before Rita Vietnam Industry Joint Stock Company asked for advice about the value-added tax policy for imported goods under Decree 15/2022/ND-CP.

Clause 1 of Article 1 of Decree 15/2022/ND-CP says that the value-added tax is lowered for groups of goods and services that are currently taxed at 10%, except for telecommunications, financial activities, banking, securities, insurance, real estate, metals and prefabricated products, mining products (except coal mining), coke, oil refined mines, and chemical products. 

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Appendix 1 also contains a list of items and services that are not eligible for value-added tax reduction: level 7 (level 7-2599939 of the sector code), column 8 (name of other products—other products of base metal not yet subject to tax reduction). column 9 (including iron or steel anchors, hooks, and parts thereof; non-electrical bells, bells, and the like; goods)

Other aluminium goods not classified elsewhere; other lead, zinc, and tin products not classified elsewhere; other copper products not classified elsewhere; other nickel products not classified elsewhere; articles of metal other fundamental classes not classified elsewhere).

For instance, woven sheet, netting, aluminium mesh, thread, bobbin core, aluminium silk reel... Rods, rods, forms, and lead wires; lead pipes, conduits, and pipe fittings; zinc pipe or conduit gutters, roofs, ducts, pipe fittings; sheets, strips,... Column 10 (initial product HS code*).

There is a rule in the notes section (at the end of Appendix 1): "Lines with an asterisk (*) in column 10 should indicate HS codes according to the actual imported items."

The General Department of Customs says that the value-added tax cut in Decree No. 15/2022/ND-CP does not apply to the steel cable goods imported by Rita Vietnam Industrial Joint Stock Company.

TCHQ

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