Gold jewelry can enjoy 0% tax rate

The Government has just issued Decree 122/2016 on Export Tariffs and Preferential Import Tariffs, including regulations on gold jewelry tax rates...

The Government has just issued Decree 122/2016 on Export Tariff Schedule, Preferential Import Tariff Schedule, List of goods and absolute tax rates, mixed tax, import tax outside tariff quota, effective from September 1, 2016.

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In particular, gold jewelry and separate parts of gold jewelry (belonging to group 71.13), gold handicrafts and separate parts of gold handicrafts (belonging to group 71.14) and other gold products (belonging to group 71.15) are subject to an export tax rate of 0% if they meet the following conditions: In addition to the customs dossier for exported goods according to general regulations, there must be a Test Result Certificate determining the gold content of less than 95% issued by a testing organization licensed to determine the gold content of jewelry and handicrafts (present 1 original for comparison, submit 1 copy to the customs authority).

In case the items are gold jewelry and separate parts of gold jewelry (group 71.13), gold industry products and separate parts of gold industry products (group 71.14) and other gold products (group 71.15) exported in the form of export processing or meeting the conditions to be determined as being produced entirely from imported materials, exported in the form of export production, when carrying out customs procedures, it is carried out in accordance with current regulations, and it is not necessary to present the Test Result Certificate to determine the gold content.

In case of export in the form of export production, when carrying out customs procedures, enterprises must present a license to import raw gold from the State Bank according to regulations.

In addition, Decree 122/2016 also stipulates that passenger cars with 9 seats or less (including the driver) with a cylinder capacity of less than 1,500cc in group 87.03 and passenger cars with 10 to 15 seats (including the driver) in group 87.02 are subject to absolute tax rates.

Passenger cars with 9 seats or less (including driver) and a cylinder capacity of 1,500 cc or more in group 87.03 are subject to a mixed tax rate.

According to VOV