Increased exports of cassava tax to 5 percent.

(TBTCO) - The Ministry of Finance has issued Circular No. 63/2015 / TT-BTC revised export duty rates for goods of heading 07.14 in cassava export tariff issued Circular No. 164 / 2013 / TT-BTC dated 15/11/2013 of the Minister of Finance.

Accordingly, the Circular No. 63 revised export duty rates for goods of heading 07.14 in cassava export tariff issued Circular No. 164/2013 / TT-BTC dated 15/11/2013 of Ministry Finance Minister promulgating the Export Tariff, Import Tariff preferences under the list of taxable items as follows:
Commodity Code Description Tax rate (%)
07:14 manioc, arrowroot, orchid bulbs, a-ti-number Jerusalem, sweet potato and root tubers and similar starch content or i-nu-lin high, fresh, chilled, frozen or dried, or not sliced or in the form of pellets; sago tree cores.
0714.10 - Cassava:
 - Sliced or made into capsules:
0714.10.11 --- Latvian was drying 5
0714.10.19 --- Other 5
 
Circular No 63 takes effect from the date of 06.20.2015.
Previously, the plan to increase tax rates cassava exports from 0% to 5% by the Ministry of Finance is expected to consult with a number of ministries, local and business associations from the beginning of the month 3/2015 to ensure raw material for biofuel production in the country.

According to calculations by the Ministry of Finance, if the adjusted tax rate cassava exports from 0% to 5%, the exporters incur additional export taxes is 243,380 VND / ton (5% x 4847. 570 e) the export prices (excluding export duties) was 4.62419 million VND / ton. Thus exporters to be profitable, in particular interest considering purchasing price of cassava in the country (4.3 million VND / ton) is 324,192 VND / ton. /.