Vietnam waives tax exemptions on soybean meal imports

The Ministry of Finance in Vietnam has proposed maintaining the current tax rate on soybean meal imports at 2% or reducing it to 1%, rather than the previously proposed 0% by the Ministry of Agriculture. The Ministry of Finance argues that the current rate already falls below the WTO commitment ceiling of 5%. They also highlight that changing the tax rate could lead to a drop in demand for domestic products and an increase in reliance on imports, despite domestic production being able to meet 35% of demand.