Industry & Trade Ministry Suggest Raising Paper Import Taxes
The Vietnamese Ministry of Industry and Trade (MOIT) has proposed the Ministry of Finance (MOF) raise import taxes on paper from ASEAN countries in order to help ease difficulties for domestic companies.
Accordingly, the MOIT wants the tax on writing paper to increase to 5 per cent from 0 per cent, and on newsprint from 3 per cent to 5 per cent.
Prices of paper and pulp have sharply decreased in the past months on global market after skyrocketing in the first half of this year, hitting local paper producing companies.
Vietnam spent US$698 million on importing 839,000 tons of paper in the first eleven months of this year, up 28.9 per cent on year in value and 10.2 per cent in volume. (Vietnam & World Economy)
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