The Ministry of Industry and Trade disagrees with the Ministry of Finance on listing imported fuels as consumer goods.
In a document sent to the trade ministry in mid-August, the finance ministry asked the receiver to include fuels in the list of consumer goods to define the time for import tax payment. Specifically, the ministry proposed immediate payment on arrival at ports instead of a 30-day grace period under the current regulation.
The finance ministry reasoned that fuels are mainly imported to meet the demand for consumption and transport of citizens.
In a written reply sent to the finance ministry last Thursday, deputy trade minister Nguyen Cam Tu deemed the proposal of the finance ministry unreasonable and groundless. The ministry explained fuels are not only imported for consumption, but also for production and trading activities, such as tourism and goods and passenger transport.
The trade ministry added fuels contribute high payments of taxes, including import tax, value-added tax, and excise tax. Immediate tax payment upon import will cause more troubles for fuel traders, especially in the context that fuel trading is facing difficulties.
“This will push up costs, affect import schedules and the ability to ensure domestic supply,” stressed the trade ministry.
