Vietnam to Raise Export Tariffs on Steels, Cements & Wood

Several days ago Tax Policy Department under Vietnam Ministry of Finance submitted a proposal of raising export tariffs on steels and cements to the Prime Minister in order to adjust the enterprises' profits based on the low costs.

Besides, those mentioned commodities still haven't been listed in the range of export tax payable. To be specific, imposing export tariffs of 1.3-2% on steels for building, and 3% on billet steel; imposing export tariff of 5.3% on cements, and 5% on cement clinker.

Meanwhile, Vietnam Ministry of Finance suggested increasing export tariffs to 20% on wood and its processed products, as currently China is largely purchasing Vietnam's rubber woods; raising export tariffs from 5% to 20% on sleepers for railways or trolley buses, as the export quantity sharply rose 300% in 2010.