Export tariff on NPK fertilizer cut to 0%

28/06/2023 08:53 - 44 Views

New tax rate effective from July 15.

The export tariff on DAP and NPK fertilizers will be cut to 0 per cent from July 15 to eliminate difficulties facing domestic production and business.

Under Decree No. 26/2023/ND-CP, issued recently by the government, the cut is also aimed at encouraging companies to continue investing in and innovating technology to lower production costs and enhance competition.

This is also part of Vietnam implementing its international commitments and promoting economic integration, contributing to stabilizing the macro-economy.

The Decree also amends and supplements export tariffs and preferential import tariffs on certain items, such as crude copper pipes, crude minced coal, and crude corrugated iron, based on the principle of applying higher export tax rates on domestic products that have not been produced or do not meet requirements.

Source: VnEconomy