Increase in tax rates and export cassava ethanol
(TBTCO) - The Ministry of Finance plans to increase tax rates cassava exports from 0% to 5% and from 0% ethanol items up 3%.
The Finance Ministry has written to send some ministries, branches, localities and business associations to build more base adjustment plan tax cassava exports and ethanol.
Earlier, the Ministry of Finance has received Notification No. 19 / TB-OG dated 01.26.2015 of the Government Office of the conclusions of the Prime Minister at the meeting of the pricing mechanism for petrol E5, which content delivery MOF "Adjustment export tax cassava ethanol and materials to encourage domestic consumption, contributing to ensuring raw material for biofuel production."
Cassava is limited, ethanol perfunctorily
To adjust the tax basis, the Finance Ministry said, according to information from the Association of Vietnam biofuels, materials of cassava in Vietnam with a total area of 450 thousand hectares of cultivation, annual output is obtained about 9.5 million tonnes of fresh roots.
Of these, about 4 million tonnes of fresh roots meet the starch factory. The remainder is processed into dried chips was about 2.3 to 2.5 million tonnes of dried cassava / year.
The total annual number of dry cassava in Vietnam about 3 million tons are used in animal feed, exports to China and raw materials for ethanol production.
cassava material
Putting on cassava production lines Bio-ethanol. Photo: baoquangngai.vn
Import turnover cassava is 539 677 tonnes in 2013, equivalent to USD 115.120 million; 2014 was 1,041,513 tons, equivalent to 158.354 million.
Exports of this commodity in 2013 was 1,557,858 tons, equivalent to 385.725 million; 2014 was 1,901,346 tonnes or 394.175 million. Cassava export price in 2013 was $ 247.6 / ton, 2014 is $ 207.3 / ton.
According to information from a number of enterprises to purchase and export of cassava, the purchase price is about 4,300 VND / kg (including the cost of loading and unloading, disinfection, ports, excluding interest expense, losses) equivalent 4.3 million / ton. According to data from the General Administration of Customs provided on exports, the export price average cassava 2 2013, 2014 was approximately $ 227.5 / ton, equivalent to approximately 4,867,570 VND / ton (in exchange rate 1 USD = 21,400 VND).
