Increase export tax on woodchips: MARD
The Ministry of Agriculture and Rural Development (MARD) has petitioned
the State to increase export tariffs on woodchips from 0 percent to 5-10
percent, in a move to limit woodchip exports.
The Ministry of Agriculture and Rural Development (MARD) has petitioned
the State to increase export tariffs on woodchips from 0 percent to 5-10
percent, in a move to limit woodchip exports.
MARD also proposed instituting a 10 percent value-added tax, as well as a 25 percent corporate tax for enterprises involving in woodchip production.
Under a scheme on managing domestic woodchip production in the period from 2014-20, as approved by the ministry, wood processing firms were allowed to use a maximum of 70 percent of wood material harvested from plantation forests to produce woodchips from now through the end of 2015. However, the ratio would then be reduced to 40 percent in the five following years.
The scheme also prioritised the development of high value-added products, such as indoor and outdoor furniture, wooden handicrafts and expansion of new export outlets, such as Russia and the Middle East, while maintaining traditional markets such as the US, the EU, Japan and China.
According to Huynh Van Hanh, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City, the value of Vietnam's wood exports would reach an estimated 6.5 billion USD by the end of 2014, up 15 percent year-on-year.-VNA
MARD also proposed instituting a 10 percent value-added tax, as well as a 25 percent corporate tax for enterprises involving in woodchip production.
Under a scheme on managing domestic woodchip production in the period from 2014-20, as approved by the ministry, wood processing firms were allowed to use a maximum of 70 percent of wood material harvested from plantation forests to produce woodchips from now through the end of 2015. However, the ratio would then be reduced to 40 percent in the five following years.
The scheme also prioritised the development of high value-added products, such as indoor and outdoor furniture, wooden handicrafts and expansion of new export outlets, such as Russia and the Middle East, while maintaining traditional markets such as the US, the EU, Japan and China.
According to Huynh Van Hanh, Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City, the value of Vietnam's wood exports would reach an estimated 6.5 billion USD by the end of 2014, up 15 percent year-on-year.-VNA
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