MARD Proposes Cutting Animal Feed Import Tax

The Ministry of Agriculture and Rural Development (MARD) has proposed the Ministry of Finance reduce import tax on several kinds of animal feed.

 

The MARD wants import tax on finished feed for pig and poultry to be reduced from current 8 per cent to 4 per cent. The ministry said 0 per cent tax on cod-liver oil and buckwheat should replace for current 5 per cent while tax on dried bean powder should be cut from 10 per cent to 5 per cent.

 

The ministry said the tax reduction will pay the way for more imported animal feed and force Vietnamese companies to reduce their price, adding that high animal feed price has discouraged local animal husbandry sector.

 

Le Ba Lich, acting chairman of the Vietnam Animal Feed Association agreed to the proposal, but warning that much reduction in finished animal feed will cause difficulties to local companies. (Vietnam Agriculture, Youth)