HA NOI (Biz Hub) — Viet Nam will sharply cut export duty for rubber to 1 per cent from current 3-5 per cent from December 26, 2013, the Ministry of Finance (MoF) said on its website.

In details, on November 11, MoF officially issue Circular No.57/2013/TT-BTC, revising the export taxes for rubber items belonging to groups 40.01, 40.02, 40.05.

Accordingly, natural rubber latex, crepe rubber, compounded rubber, in the primary forms or in plates, sheets or strips ( Code No.:4001.10; 4001.29; 4005) will enjoy the export taxes of 1 per cent from December 26, 2013, replacing the current rate of 3 per cent.

Of note, export duty of the synthetic rubbers ( Code No.4002) will be cut to 1 per cent, replacing the current rate of 5 per cent at the same date. — StoxPlus