The Vietnam Chamber of Commerce and Industry (VCCI) has welcomed Vietnam’s proposed cuts to aluminium export taxes but urged the Ministry of Finance to go further by reducing rates to 0 per cent for additional products. The move could help domestic producers clear excess inventory, ease cash flow pressures and improve competitiveness.
The proposal comes as Vietnam’s Ministry of Finance prepares amendments to Decree 26/2023/ND-CP, which governs export and import tax rates. The changes aim to address difficulties businesses face amid volatile international markets, including aluminium producers seeking sales contracts for 2027.
The draft decree proposes reducing the export tax floor from 5 per cent to 0 per cent for six groups of aluminium and wood products (76.01, 76.03, 76.04, 44.02, 44.07, and 44.08). It also proposes cutting the export tax on aluminium coils used for can manufacturing (HS code 7606.12.32.10) from 20 per cent to 0 per cent.