Tax is one of the mandatory fees that entities must pay to a government organization to finance various public expenditures.. Tax schedule What is that? How to look up the import and export tax schedule? Join Cuong Quoc Logistics to find out details through the article below.

What is the tax schedule??

Tax schedule (Tax Table) is a table of tax rates prescribed by the State. The tax schedule is used to calculate taxes for taxable subjects, include: goods, service, income, asset,…

Tax rates are specified in the tax schedule in various forms: proportional tax rate, Fixed tax rates are either partially or fully progressive, progressive tax schedule.

The normal tax schedule includes different tax rate levels. But the applicable tax rate does not change according to the increase or decrease of the tax object.

The progressive tax schedule includes different tax rate levels. But the applicable tax rate increases with the increase in taxable objects. Progressive tariffs have two types: Fully progressive tax schedule & partially progressive tax schedule.

• The fully progressive tax schedule includes tax rates, but the applicable tax rate changes to a higher rate for all tax subjects if the tax subject belongs to the specified level..
• The partially progressive tax schedule includes tax rates, but the tax rates are applied according to the higher rate for each part of the taxable object of the specified level..

What is the import and export tariff schedule??

Concept

The import-export tariff is a table of tax rates prescribed by the state to calculate taxes for taxable subjects: goods, service, income, asset,…Tax rates are regulated in two forms: proportional tax rate and flat tax rate.

Types of taxes in the import-export tariff

According to the provisions in Clause 3, Article 5 of the Law on Import and Export Taxes, the import and export tax schedule includes the following taxes:

– Preferential tax rates

Preferential tax rates apply to imported goods originating from the country, group of countries or territories that implement most-favored nation treatment (MFN) in trade relations with Vietnam.

Preferential tax rates also apply to goods imported from the non-tariff zone into the domestic market, Meets country of origin conditions, Group of countries or territories implementing most-favored nation treatment in trade relations with Vietnam.

– Special tax rate

Special tax rates apply to goods imported from countries that have trade relations in bilateral or multilateral agreements with Vietnam such as: ACFTA (Asia – China, Co inim by); AT LEAST (ASEAN Trade in Goods Agreement, CO form D); AJCEF (Asean – Japan, CO forms AJ); AKFTA (Asean – Korea, CO forms AK); VJEPA (Vietnam – Japan; CO form JV); AANZFTA (Asean – Australia/New Zealand, CO form AANZ), AIFTA, VNKTA, VCFT, VN-EAEU, ASEAN preferential import tax – China.

Formula for calculating special tax rates:

Special tax rate = Taxable value of imported goods * Import tax rate

– Normal import tax

Applies generally to goods originating from countries with which Vietnam does not have preferential tax trade agreements.. This type of tax is mostly imported from countries that are rarely heard of and are not included in this special preferential or preferential agreement.

– Preferential import tax

Preferential import taxes apply to goods originating from countries that have trade relations with Vietnam under the MFN most favored nation treatment policy.. Present, Vietnam is having trade relations with about 180 countries around the world, therefore, Most goods imported into Vietnam are eligible for this tax incentive.

– Special consumption tax

Special consumption tax is a tax on goods whose consumption is restricted, such as: bia, alcohol, cigarette,…

Special consumption tax is a type of tax on top of tax, therefore they are calculated as follows:

Excise tax = Excise tax calculation price * Excise tax rate = (Taxable value of imported goods + TNK) * Special consumption tax rate

The import-export tariff is also the basis for looking up the HS Code. Since, Determine tax rates on imported and exported goods.

– Environmental protection tax

Environmental protection tax is levied on items that have the potential to pollute the environment such as gasoline, oil, fat, nylon bag,…

Formula for calculating environmental protection tax:

Environmental protection tax = Number of units of goods * absolute tax rate per unit of goods

– VAT

VAT is levied on consumers. VAT is one of the tax lojia with a very high level of anti-tax.

Formula for calculating VAT:

VAT (VAT) = (Taxable price + import tax + special consumption tax) * VAT tax rate

Regulations on import and export tariffs

Principles issued

• Encourage import of raw materials, Prioritize domestic products that do not meet demand, develop the high-tech sector, source technology, save energy and protect the environment.
• Consistent with economic development orientation – State's social policies and commitments on import and export taxes in international treaties to which Vietnam is a member.
• Contribute to stabilizing the market and state budget revenue.
• Simple, transparent, create convenience for taxpayers and reform tax administrative procedures.
• Unify tax rates for goods of the same nature, same structure and uses. Import tax rates gradually decrease from finished products to raw materials. Export tax rates increase gradually from finished products to raw materials.

Authority to issue tax schedules

Pursuant to the provisions of Article 10 of this law, Export tariff schedule according to the List of taxable commodity groups and export tax rate bracket for each taxable commodity group promulgated together with this Law, Preferential tariff schedule committed in the Protocol of Accession to the World Trade Organization (WTO) ratified by the National Assembly and other international treaties to which the Socialist Republic of Vietnam is a member for promulgation.:

• Export tariff schedule, preferential export tariffs
• Preferential import tariff schedule, special preferential import tariffs
• List of goods and absolute tax rates, mixed tax, import tax outside the tariff quota

In case of need, The Government submitted amendments to the National Assembly Standing Committee, Supplementing the Export Tariff according to the List of taxable commodity groups and export tax rate brackets for each taxable commodity group promulgated together with this Law.

Authority to impose anti-dumping tax, anti-subsidy tax, Self-defense tax is implemented according to regulations.

How to look up import and export tax tables

How to look up import and export tax tables

To look up the import and export tax schedule, you need to look up by row, then look up by column. Search by row to know the product name, Then look up the column to know the taxes they are subject to when imported.

In case the product code is known:

• Step 1: Type the search command Ctrl F
• Step 2: Enter the product code you want to search for
• Step 3: Press Enter or Find Next

In case the product code is unknown:

• Equipped with additional knowledge of goods classification, Use the list of import and export goods, Student annotations along with relevant documents.
• Once you have the above knowledge, You can use the tariff file to determine the product code, Tax rates and related policies.

How to calculate tax on imported and exported goods

Import tax = Taxable value of imported goods * Import tax rate

Special Consumption Tax = Special Consumption Tax Rate * (Import tax calculation value + Import tax)

Environmental protection tax = Absolute tax rate of environmental protection tax * Quantity of goods

VAT= (Taxable price of imported goods + Import tax + Special consumption tax + Environmental protection tax)* VAT tax rate

Some special symbols to note

(*): Goods are not subject to VAT

(5): Taxable goods VAT and 5% import tax

(10): Goods are subject to VAT and import tax of 10%

(*,5): Goods are not subject to import tax, subject to VAT 5%

(*,10): Goods are not subject to import tax, subject to VAT 10%

Conclude

Above is some information about import and export tariffs and how to look up the exact tariffs. Monitor Logistics power to update useful news!

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