01/08/2013

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VIETNAM: MoF to refund tax on plastic bags

If approved by the Government, companies that paid VND30,000-50,000 (USD1.4-USD2.3) per kilogramme on the bags from 1 January 2012 will get their money back. A decree passed in 2011 slapped the tax on all plastic bags used to contain goods except pre-packaged items and plastic bags that met environmental criteria laid out by the Ministry of Natural Resources and Environment's regulations.With producers and consumers apparently unable to give up their addiction to plastic bags, the tax increased businesses' costs, putting further pressure on them, especially those involved in exports, who are big users of the bags.To avoid the tax, many exporters imported environment-friendly bags, thus also affecting the domestic packaging industry.This ministry's proposal as well as its other measures to resolve businesses' difficulties and revive the market were put forth by the Government at a recent online conference with local administrations to discuss economic tasks and expenditure in 2013.Finance ministry officials said if the proposal is approved it would be good for businesses and encourage them to address their other difficulties, enabling the Government to achieve its socio-economic targets.(Syed Rashid Ali, Karachi, Pakistan)
Source: Daily "Vietnam News", Hanoi; 7 Jan 2013

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