MoF decides a half cut of coal export tax

VGP – From February 15 on, export tax rates imposed on all types of coal will stand at 10% instead of the current rate of 20%.

February 06, 2009 10:08 AM GMT+7

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The Ministry of Finance (MoF) yesterday released a circular readjusting the export tax rates for coal of all kinds to 10%.

The tax reduction will be applied since February 15.

Earlier, to minimize the export of fossil fuel, MoF decided to raise export tax of coal from 15% to 20% on June 6, 2008.

The cut is considered a move to support domestic exporters amid difficulties.

Recently, the Việt Nam Coal and Mineral Industries Group (Vinacomin) suggested a cut of export tax from 20% to 15% in order to enhance the sector’s performance.

By Kim Loan