Vietnam rejects import tax exemption for sbm

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Vietnam’s Ministry of Finance (MOF) has said it should either maintain the current import tax rate for sbm at 2% or reduce to 1%, instead of 0% as previously suggested by the Ministry of Agriculture. MOF explained the tax rate of 2% is already lower than the ceiling commitment level at the WTO of 5%. In addition, adjusting the tax rate can lead to reduced demand for domestic produce and increasing dependence on imported sources. Currently, domestic production can meet 35% of demand.

Ha Thu
Regional Correspondent and Assistant Editor, Asian Pork Magazine, Ho Chi Minh City, Vietnam. Ha Thu’s ‘Income from waste, the next big thing in animal production’ explores how processing livestock waste can be an environmentally sustainable, income-generating solution.