Concessional import duties of oil and gas products are adjusted

On March 17, 2016, the Ministry of Finance promulgated Circular No. 48/2016/TT-BTC on adjustments to concessional import duties on some oil and gas products of heading 27.10.


According to the Circular, concessional import duties on some oil and gas products are adjusted as follows:
  • - Import duties on the following products are reduced from 10% to 7%:
    •  + Aviation spirit, not of a kind used as jet fuel.
    •  Automotive diesel fuel.
    •  Other diesel fuels.
    •  Fuel oils.
    •  Aviation turbine fuel (jet fuel) having a flash point of 23o C or more.
    •  Aviation turbine fuel (jet fuel) having a flash point of less than 23o C.
    •  Biodiesel (B5, B10).
  • - Import duties on other kerosene are reduced from 13% to 7%.
Decree No. 48/2016/TT-BTC comes into force from March 18, 2016.

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