Export tax on wood and minerals will increase

The Ministry of Finance has just issued a Draft Circular amending and supplementing regulations on export tax for a number of items in the Export Tax Schedule.

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According to the draft, export tax on timber, whether or not stripped of bark, sapwood or roughly squared, will increase from the current 0% to 10%.

Hoopwood, split poles, piles, pickets and stakes of wood, pointed but not sawn lengthwise; wooden sticks, trimmed but not turned, bent or otherwise worked, suitable for the manufacture of walking-sticks, umbrellas, tool handles or the like; chipwood and the like shall also be subject to an export tax of 5%.

Export tax on wood panels for veneer, plywood or laminated wood with a thickness not exceeding 6mm; continuously shaped wood (tongue, groove, planed, chamfered, V-jointed, ribbed, beaded, shaped, rounded or similar) will also increase from 0% to 5%.

Export taxes on some minerals will also increase.

Export tax on silver ore and silver concentrate is expected to increase from 20% to 30%, equal to the export tax on gold ore. Export tax on nickel, aluminum, zinc, tin, tungsten, and uranium ores will also increase from 20% to 30%.

Synthetic or reconstructed precious or semi-precious stones, whether or not worked but not strung, mounted or set or temporarily strung for convenience of transport, will have an export tax of 10%, compared to the current rate of 0%./.

According to (vov.vn) - LT