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Tax on PP imports into Vietnam significantly cut

Tax on PP imports into Vietnam significantly cut, Asia packaging, Vietnam packaging, packaging manufacturers, packaging converters
The new import tax rate on polypropylene in Vietnam will be 1% from March 2016, down two-thirds from the previous 3% tax rate.

According to a new circular released in late January by the finance ministry, Vietnamese plastic firms that import polypropylene as a manufacturing material will only have to pay a 1% import tax starting 6 March.

This is a rather significant decrease from the previous 3% import tax rate, which was last set in 2013… For the full story, subscribe to Packaging Business Insight Asia here.

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