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
Ukraine is shifting its crop structure in favor of oilseeds
US allocates $14 mln to expand soybean exports under new trade program
EU wheat production in MY 2026/27 may decline after record harvest
Mercosur to discuss possible return of Venezuela to membership in economic union
MFA buys four grain elevators in the US from ADM
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon