No reduction of import duties on fertiliser

The Ministry of Finance officially announced not to reduce VAT down to 0% applied to fertiliser commodity at the request of the Vietnam Fertiliser Association.
According to the finance ministry, speculations of fertiliser distributors have made fertiliser price high. Also in accordance with the Vietnam fertiliser association, urea fertiliser supply source of the country is approximate 400,000 tonnes (200,000 tonnes of fertiliser inventory, 100,000 tonnes newly stored and 100,000 tonnes domestically produced) to ensure fertiliser needs for summer-autumn crop so no shortage of fertiliser is anticipated.

 

Category: Legal