Zero tax rate for wood exports
VGP – The Ministry of Finance has just decided to lower the tax rate imposed on wood exports in the category 44.04 to zero.
April 27, 2009 10:07 AM GMT+7
|
|
|
Export tax rate of wood products stands at 0% |
Accordingly, wood planks (less than 30 mm thick and 100 mm wide) will be free from export tax. The current rate is 10%.
The new tax rate will be applied since April 29, 2009.
The tax reduction is part of the Government’s efforts to ease difficulties faced by local businesses.
Since 2000, wood export has grown by around 25% per year on average, even 50%. The export turnover reached US $2.2 billion in 2006, US $2.4 billion in 2007 and US $2.8 billion in 2008.
The 2009 figure is estimated at US $3.2 billion.
By Hải Minh
