Stop the export duty of 5% with cassava

Stop the export duty of 5% with cassava
The Ministry of Finance has decided to stop the implementation of provisions increased export tax from 0% to 5% with cassava chips after only a few months of implementation.
Increased export tax to 5% for cassava chips
Late on 4/9, the Ministry of Finance informed decision allows pause the implementation of Circular No. 63, which regulates the export of cassava chips suffer 5% tax rate. Earlier, cassava - the main raw material to produce bioethanol (ethanol), has been adjusted export tax rate from 0.5 to 5% to ensure sufficient reason for mixing raw materials, gas use birth E5 school on a timely basis.

However, the difficulties for enterprises and farmers to implement the new tax rate, the Ministry of Finance has decided to stop the implementation of Circular 63 and allow this item to continue enjoying the tax rate of 0% until new documents. This decision takes effect from tomorrow 5/9.

When making the decision to increase the tax from 0% to 5%, drafting agencies calculate that businesses can still rate and domestic still have enough cassava to operate the ethanol plant capacity. Specifically, the purchase price of 4.3 million cassava per ton, the export price was over 4.8 million. The Finance Ministry estimates, the increase in the tax rate to 5%, now still can rate each ton equivalent 324,000 VND 567,000 VND instead of more interest at the rate of 0% and stop the situation in countries where producers to traders China purchased there. 2014, Vietnam imported more than one million tonnes but exported almost 2 million tons of cassava.