Vietnam waives tax exemptions on soybean meal imports
Vietnam’s Ministry of Finance (MOF) said it should either maintain the current tax rate on soybean meal imports at 2% or reduce it to 1% rather than 0% as previously proposed by the Ministry of Agriculture.
The Ministry of Finance explained that the 2% tax rate is already below the WTO commitment ceiling of 5%.
In addition, adjusting the tax rate could lead to a decrease in demand for domestic products and increased dependence on imported sources.
Currently, domestic production is able to meet 35% of demand.
Read also
Wheat in Southern Brazil Impacted by Dry Weather and Frosts
Oilseed Industry. Leaders and Strategies in the Times of a Great Change
Black Sea & Danube Region: Oilseed and Vegoil Markets Within Ongoing Transfor...
Serbia. The drought will cause extremely high losses for farmers this year
2023/24 Safrinha Corn in Brazil 91% Harvested
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon