Vietnam Slashes Import Tariffs on Engineering Steel to 0 per cent

The Ministry of Finance has added engineering steel products to the list of getting preferential import tariffs of zero instead of the current 10 per cent, said the ministry’s Circular No. 93 issued May 15.

 

The new tariff was applied for customs declaration certificates from Apr 20, 2009, said the circular.

 

Under the circular, engineering steel imports, including alloy steel groups of 72.27 and 72.28 will be the beneficiaries.

 

In mid-April, the MoF decided to hike import tariffs on alloy steel products from 0 per cent to 10 per cent from Apr 20 in order to curb illegally-imported steel of local traders who had imported a large amount of carbon steel but claimed it to be alloy steel to benefit from the zero-tariff import tax. (The People)