Similarly, tax on almonds will decrease from 10% to 5%, fresh apples from 8% to 5%, sweet cherries from 10% to 5%, and raisins from 12% to 5%. These new preferential import tax rates took effect on March 31, 2025.
According to Decree No. 73/2025/NĐ-CP, the preferential import tax rate for automobiles with HS codes 8703.23.63 and 8703.23.57 will be reduced from 64% to 50%, while automobiles with HS code 8703.24.51 will see a reduction from 45% to 32%. The preferential import tax rate for ethanol will also be reduced from 10% to 5%.
For wood and wood products, the import tax rate for items in Group 44.21, which includes wooden products such as coat hangers, coffins, spool cores, textile and sewing spools, and similar products, as well as Groups 94.01 and 94.03, covering seating furniture, parts of chairs, and wooden furniture, will be reduced from 20%-25% to 0%.
Other key tax reductions include liquefied natural gas (LNG), which will see its import tax drop from 5% to 2%, and ethane, which will now be classified under HS code 2711.19.00 in Chapter 98 with an import tax rate of 0%. The tax on corn kernels will be reduced from 2% to 0%, while soybean meal will also see a reduction from 1%-2% to 0%.
According to Phung Duc Tien, Deputy Minister of Agriculture and Environment, these preferential tax adjustments, particularly for agricultural products, are necessary to ensure fair treatment among Vietnam’s comprehensive strategic partners, improve trade balance, and diversify imported goods. Additionally, the new rates aim to stimulate domestic consumption and ease tax obligations for businesses and importers.
