ANNOUNCEMENT 12 Feb 2010In February 2010, the government of Vietnam announced a change in export taxation.
NUMBER OF INTERVENTIONS
Timber exempted from export tax
Vietnam removes export tax
Ministry of Finance. (2010). To adjust export tax rate to wooden commodities. Available at http://www.mof.gov.vn/portal/page/portal/mof_en/18362785?p_page_id=18362785&pers_id=3802299&item_id=14816046&p_details=1
In April 2009 the Ministry of Finance of Vietnam decided to grant export tax exemption on wood planks. Under the new regulation exporters of wood planks no more than 100mm wide and 30mm thick do not need to pay the 10 per cent tax.
The measure was introduced in order to support the export of planks and woodwork products, which experienced a significant decline in the global economic crisis of 22.9 per cent year-to-year.
On 12 February 2010 the export tax exemption was extended to boards with a width of 400 mm or less and a thickness of 30 mm or less.