Vietnam to Impose Tax on Rice Exports
Vietnamese Prime Minister Nguyen Tan Dung on Thursday [May 29] agreed to the Ministry of Finance’s proposal to levy tax on rice exports, the Government said on its website on May 30.
The PM also instructed the ministry and relevant agencies to prepare for the issue of the tax, which is expected to take effect from July 2008, the website said.
Although the website did not show specific taxes, the Vietnam Food Association expected for the US$20-US$30 taxes on a ton of rice export.
According to the PM’s decision, the same tax will also be imposed on urea fertilizer exports.
This is the first time the Vietnamese government decided to impose tax on rice exports, aiming to regulate rice exports and increase budget.
The government has so far controlled rice export by quota.
It has raised Vietnam’s rice export target from 3.5 million tons to four million tons but Mekong Delta region, the country’s granary, expected for 4.5 million tons. (Chinhphu.vn, Youth)
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