2 July 2014
The tax
imposed on the export of acacia chips is to be abolished to help boost exports
of the locally grown raw product.
PM Hun Sen
said that acacia chips exported to Japan were now charged a 10% tax, when in
the past the premium did not apply. The Ministry of Economy and Finance would
review the product’s tax classification and announce changes shortly. “I have
received the information yesterday [Sunday]. I contacted [Economy and Finance
Minister] Aun Porn Moniroth and learned that it is because [acacia chips] were
grouped together with the natural wood export category,” he said, referring to
an export classification that attracts a 10% tax.
Cambodia
exports acacia chips to Japan and China, where they are then turned in to paper
products. The Kingdom’s acacia cultivation area is between 30,000 to 40,000
hectares of land, and a tax break would help increase that number. Vietnam can
earn around $2.2 billion from exporting acacia. Cambodia could have this chance
too if there is supporting policy from the government, just like this tax
exemption policy.
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