Export tax on rice come to a halt

The Finance Ministry has asked related agencies to not impose absolute export tax rate on rice any more, starting from December 19, 2008.

Previously, under a decision issued by the Prime Minister, dated July 21, 2008, export rice was subject to absolute tax rate, with the taxable price of US$600 per tonne. The taxable price was then raised to $800 per tonne.

The Secretary General of the Vietnam Food Association, Huynh Minh Hue, said the reduction of export tax on rice doesn’t have direct influence on Vietnam’s rice export because the export price of Vietnamese rice is much lower than $800 per tonne.

According to the VFA, by December 19, 2008 Vietnam shipped abroad 4,479,336 tonnes of rice, valuing US$2.576 billion (free on board).

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