VIETNAM: Hanoi to sharply cut export duty for rubber to 1 % from 26 Dec.

In details, on 11 November, MoF officially issued 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 % from 26 December 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 %, replacing the current rate of 5 % at the same date.

Source: bizhub.vn, Hanoi; 14 Nov 2013(Syed Rashid Ali, Karachi, Pakistan)