New preferential import tax rates take effect from March 31

Starting March 31, 2025, a range of products including automobiles, wood, ethanol, frozen chicken thighs, apples, cherries, certain types of nuts, and more will be subject to revised preferential import tax rates.

The new policy has been regulated by the Government's Decree 73/2025/ND-CP, dated March 31, 2025, which amended and supplemented the preferential import tax rates for specific goods listed in the Preferential Import Tariff Schedule, as outlined in Decree 26/2023/ND-CP dated May 31, 2023.

Notable adjustments include a reduction in the preferential import tax rate for automobiles under HS (Harmonized System) codes 8703.23.63 and 8703.23.57, from 64% to 50%. The rate for automobiles under HS code 8703.24.51 is reduced from 45% to 32%.

Meanwhile, ethanol sees its preferential import tax rate lowered from 10% to 5%. For frozen chicken thighs, the rate decreases by 5%, from 20% to 15%.

Other reductions include in-shell pistachios (from 15% to 5%), almonds (from 10% to 5%), fresh apples (from 8% to 5%), sweet cherries (from 10% to 5%), and raisins (from 12% to 5%).

For certain wood products and wood-derived items, the import tax rates are reduced to a uniform 0%, down from their previous rates of 20% and 25%. Similarly, the preferential import tax rate for liquefied natural gas (LNG) is lowered from 5% to 2%.

The decree introduces HS code 2711.19.00 for ethane in Chapter 98, assigning it a preferential import tax rate of 0%.

Additionally, the preferential import tax rate for corn kernels is reduced from 2% to 0%, while the rate for soybean meal is adjusted from 1% or 2% to 0%.