Tridge summary
The Ministry of Finance in Vietnam has decided to maintain the current soybean meal import tax rate at 2% or potentially reduce it to 1%, rejecting the earlier proposal of reducing it to 0% by the Ministry of Agriculture. They explained that the 2% rate is already below the WTO commitment limit of 5% and adjusting it may negatively impact domestic production. Currently, domestic production is able to meet 35% of the demand for soybean meal.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Vietnam's Ministry of Finance (MOF) said it should either maintain the current soybean meal import tax rate 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 tax rate of 2% is already below the WTO commitment limit of 5%. In addition, adjustments to the tax rate may reduce demand ...
Source: Oilworld
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