Vietnam Introduces New Taxes On Rice Exports

The Vietnamese government has, for the first time, introduced taxes on rice exports ranging from VND 500,000 ($30) to VND 2.9 million PMT.

According to a government released statement, a tax of VND 500,000 PMT will be levied on the rice export contracts priced between $600 and $700 PMT, FOB while for contract with prices ranging between $700 and $800 PMT, FOB, the tax will be VND 600,000 PMT.

 Vietnam exported 2.5 million MT of rice in the first half of this year, up 5.8% on year, according to figures from the government.