Vietnam Raises Import Duties on over 100 Commodities

On September 9, 2010, Vietnam's Ministry of Finance issued the Notice No. 133 on adjusting some preferential import duties in the list of preferential import duties, which will formally take effect on October 23, 2010.

According to the Notice, import duties on 111 kinds of commodities have been raised. For instance, the import duty on meat & its products shall be raised to 14% from 10%; that on chocolate products & cocoa-based products shall be raised to 24%; that on noodles & bean vermicelli shall be increased to 38%; that on processed tomato products to 34%; that on many juice products to 37% from 29%; that on kitchenware products to 27% from 18%; some daily necessities to 30% from 5%; that on air conditioners to 27%; that on vacuum cleaner to 31%; and that on wooden furniture to increase to 29%.