Reduction of import taxes on many items from March 31, 2025

The government has just issued Decree No. 73/2025/ND-CP on March 31, 2025, amending and supplementing the preferential import tax rates for certain items in the Preferential import tariff schedule attached to Decree No. 26/2023/ND-CP dated May 31, 2023, regarding the Export tariff, Preferential import tariff, List of goods and absolute tax, mixed tax, and import tax outside the quota.

Specifically, the amendment and supplementation include adjusting the preferential import tax rates for certain items specified in Appendix II - the Preferential import tariff schedule attached to Decree No. 26/2023/ND-CP, setting new preferential import tax rates.

Accordingly, the preferential import tax rates for the following items have been significantly reduced: For cars with HS codes 8703.23.63 and 8703.23.57, the tax rate has been reduced from 64% to 50%. For cars with HS code 8703.24.51, the import tax rate has decreased from 45% to 32%.

The preferential import tax rate for ethanol has been lowered from 10% to 5%.

For frozen chicken legs, the import tax rate has been reduced from 20% to 15%; for pistachios (unpeeled), the rate has dropped from 15% to 5%; almonds will now be taxed at 5%, down from 10%; fresh apples will be taxed at 5%, compared to the previous 8%; sweet cherries now have an import tax rate of 5%, reduced from 10%; and raisins will now incur a tax rate of 5%, down from 12%.

Regarding wood and wood products, the import tax rates for the following categories have been reduced to 0%: Group 44.21: Wood products (including items such as clothes hangers, coffins, core rolls, yarn spools, sewing thread reels, similar products, and wood strips used for making matches, etc.). Groups 94.01 and 94.03: Seats and parts of seats; wooden furniture. These products now benefit from the preferential rate of 0%, replacing the previous rates of 20% and 25%.

The preferential import tax rate for liquefied natural gas (LNG) has been reduced from 5% to 2%.

For ethane, HS code 2711.19.00 has been added to Chapter 98 with a preferential import tax rate of 0%.

Additionally, the preferential import tax rate for corn has been reduced from 2% to 0%, and for soybean oilcake, the rate has decreased from 1% and 2% to 0%.

This decree will officially take effect from March 31, 2025, as per the signing date.