Finance Ministry Announces New Animal Feed Import Taxes

The Ministry of Finance Apr 14 decided to adjust import taxes on several kinds of animal feed, local media reported.

 

Dead animal unsuitable for food processing will be imposed 0 per cent tax.

 

Tax on imported fish-made feed, crustacean products, marine animal will be 5 per cent.

 

Imported seeds will be levied 10 per cent while tax on liver oil will be 5 per cent.

 

The decision will come into effect from April 19, 2009.

 

The agriculture ministry said tax on imported feed for poultry and cattle should be reduced to 4 per cent from current 8 per cent. Tax on animal feed materials like buckwheat, liver-oil and fish fat should be down to 0 per cent instead of current 5 per cent and tax on dried bean should be cut to 5 per cent.

 

The ministry expected that the import tax cut will encourage local animal husbandry sector because local animal feed sellers are offering their product for higher prices than imported ones’. (VOV, Vinanet)