October 25, 2007

Vietnam lowers tax on imported milk

The Finance Ministry of Vietnam has temporarily lowered the tax for imported dairy produce to 3 to 5 percent from the previous 10 to 15 percent to mitigate the negative effect of increasing global prices on domestic consumption, production and investment. 

The Decision 86/2007/QD-BTC issued Monday (October 22) reduces the import tax for unsweetened, uncondensed milk and cream to 5 percent while sweetened condensed or powdered milk and cream is now 3 percent.

For buttermilk and yoghurt, the tax has been lowered from 10-15 per cent to 7 per cent.