Vietnam Announces Taxes on Rice, Fertilizer Exports
Vietnamese Prime Minister Nguyen Tan Dung July 21 issued a decision on imposing taxes on rice and fertilizer exports, with highest levels of VND2.9 million a ton of rice and VND5,000 a kilo of fertilizer, website of the government reported.
This is the first time the government imposed taxes on rice export that it used to control by quota.
Accordingly, exported rice will be imposed eight levels of tax, which are based on Free of Board (FOB) prices. A tax of VND500,000 ( US$30.3) will be lived on a ton of rice exported for between US$600 and US$700 prices.
Meanwhile, rice exported for from US$700 to US$800 a ton will be imposed VND600,000 ( US$36.36) tax.
The taxes will increase from VND800,000 to VND2.9 million a ton for export rice prices of between US$800 and US$1,300 a ton.
For fertilizer, the VND4,000 a kilo tax will be imposed on SA and DAP fertilizer exports, while VND5,000 a kilo will be on urea and Kali fertilizers.
Vietnam exported 116,000 tons of rice in the first 11 days of July, raising the country&rsquos total rice export volume to 2.42 million tons so far this year, up 1.3 per cent on year, according to the Vietnam Food Association (VFA).
The VFA has recently raised export floor prices of its 5 per cent broken rice by 4.2 per cent to US$750 a ton, FOB.
(Local sources)
Vietnamese
