June 26, 2006

Thailand to offer tax refund for shrimp exporters

Thailand's Fisheries Department is planning to offer a tax refund for shrimp exporters importing raw materials for shrimp processing to export.

Deputy department head Niwat Sutheemeechaikul said shrimp exporters would get the refunds if they undertake joint ventures with foreign investors for development of processing technology.

Although Thai shrimp exports rose 20 percent on-year during the first quarter, a slowdown is expected during the second half of the year due to rising energy costs and currency concerns, he said.