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Vinacomin clarifies tax confusion

Update: May, 21/2013 - 09:45
Vinacomin workers mine coal in the northern province of Quang Ninh. The corporation has clarified a statement on the export of aluminum oxide (alumina). — VNA/VNS Photo Trong Dat

HA NOI (VNS) — The Viet Nam National Coal-Mineral Industries Holding Corp (Vinacomin) has clarified a statement on the export of aluminum oxide (alumina).

It has said that a zero tariff would apply, but that it did not extend to the export of aluminum ore, for which tariffs of 15-40 per cent were applicable.

The comment followed opinions arising after the two bauxite projects, Tan Rai and Nhan Co plants in the Central Highlands, were reported to be efficient at conference late last week, Viet Nam Economic Times reported.

The opinion was that the economic efficiency was due to the group enjoyed zero preferential tax in the export of aluminum ore. This caused misunderstanding, Vinacomin said.

Under Resolution 710/2008/UBTVQH12, the tariffs of 15-40 per cent were applied for iron ore and aluminum ore, not for alumina.

According to Vinacomin, alumina with code 2818.20.00 attracted zero export tax. Big alumina exporting countries, such as Brazil, India and Australia, applied the same rate.

Alumina is different in nature to aluminum ore. Alumina is a product of the extracting and refining of aluminum ore.

During bauxite mining, the group must also pay environmental tax, value added tax, corporate income tax and natural resource use tax.

At the conference late last week, Vinacomin said that the bauxite mining plants in the Central Highlands were socio-economically efficient and environmentally safe. — VNS


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