The Ministry of Finance said that it has just completed a study on a draft amendment to export tax rates and preferential import tax rates for a number of items that have increased sharply in recent times to contribute to stabilizing the macro-economy, controlling inflation control and support, reduce difficulties for businesses at the request of the Government. In which, it is proposed to adjust the steel billet export tax rate and the preferential import tax rate for construction steel products.
Specifically, the Ministry of Finance has issued Official Letter No. 7672/BTC-CST to consult ministries, branches, localities and associations on the draft of this Decree. In particular, on the basis of analyzing the current situation of the domestic steel industry as well as the evolution of the steel market in the past time and the forecast for the coming time, the Ministry of Finance has proposed to increase the export tax on billet products in order to contributing to stabilizing the supply of steel billets for the domestic market, limiting the export of steel billets to keep domestic production, ensuring the sustainable development of the steel industry in the long term.
At the same time, the Ministry of Finance proposed to reduce import tax on some construction steel products with high import tax rates (15%, 20%, 25%) to stabilize the price of domestic steel products in the current situation. construction steel prices continuously increased in the past period, affecting many domestic manufacturing industries.
Currently, the Ministry of Finance is studying and synthesizing opinions of ministries, branches, localities and associations, on that basis, it will have a specific plan to report to the Government on this issue.
Recently, the steel price has continuously increased, causing many difficulties for construction enterprises. A series of projects are in danger of being delayed or having to stop construction. According to experts, it is normal for the price of raw materials to be affected by the increase and decrease according to the general level of the region, but the recent continuous increase in steel prices has shown unusual signs.
Faced with this fact, on June 8, the Government issued Resolution No. 58/NQ-CP on the Regular Government Meeting in May 2021, in which, the Ministry of Finance and the Ministry of Industry and Trade were assigned to study and review. , to prepare appropriate plans on import tax and trade remedies as prescribed for a number of goods and raw materials with a sharp increase in prices; clearly identify the causes and forecast price trends in the coming time, propose appropriate policies and solutions...
On June 29, the Government also issued Resolution No. 63/NQ-CP on the main tasks and solutions to promote economic growth, disbursement of public investment capital and sustainable export in the last months of the year. 2021 and early 2022. In which, at point dd, Section 6, the Ministry of Finance has been assigned to study and propose to reduce most favored nation tax - preferential tax between countries (MFN) at an appropriate level for a number of imported products have MFN tax, which is significantly different from the tax rate under free trade agreements (FTAs), especially domestic products that have no or little need for protection to create a competitive environment. painting; adjusting export tax rates and import tax rates on some commodities and raw materials, contributing to stabilizing the domestic price level.
