Vietnam Adjusts Preferential Import Tariffs on Some Commodities

According to a report on September 23, 2010 from a Vietnamese newspaper on goods and materials, Vietnam's Ministry of Finance issued on September 9, 2010 the adjusted preferential import tariffs.

As per the adjusted tax items, a tax increase of 2% shall apply to imported wooden ornaments for offices, kitchens, and bedrooms, all types of air-conditioners (including electric fans and humidistats, etc.), peanut butter, and chips; a tax increase of 4% shall apply to some chocolate & cocoa products like cioccolatino, chocolate chips, chocolate bars, or chocolate balls (with or without nuts); and a tax increase of 10% shall apply to pomelos (including grapefruits) and some unfermented squeezed fruit juices (including grape juices) and vegetable juices with or without sugar and other sweeteners.

The new tariffs will be implemented after 45 days following its promulgation.