Vinacomin Proposes No Raising Coal Export Tax
The Vietnam National Coal-Mineral Industries Group (Vinacomin) will propose not to raise tax on coal exports next year so as to ensure financial balance and development investment. The coal export duty is 20 per cent currently.
The country’s top miner said domestic coal price is now much lower than export price.
Vinacomin targets to reach output of 45 million-48 million tons by 2010 and 55 million-60 million by 2015.
After meeting domestic demand for coal in 2008, the group will export some 20 million tons out of the total output of 40 million-43 million yearly so that the miner is able to make up for the difference between domestic and export prices and to ensure production.
In the first seven months this year, Vinacomin shipped 12.78 million tons of coal, down 1 per cent on-year and representing 64 per cent of the yearly target. (VNA)
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