Coal and mineral producers proposes reduction of export tax

Vietnam National Coal Mineral Industries Group (Vinacomin) has recently proposed to the Government and the Ministry of Finance to adjust coal export tariff to 10 percent as before.

According to Vinacomin, in the past two months, after export tariff was lifted from 10 percent to 13 percent, coal exports have fallen by 2 million tons.

Coal consumption for 2013 is now estimated at around 36-37 million tons, down 20 million tons compared to the previous year. Earlier, the company targeted consumption of 39 tons. Thus, national budget revenue will decrease by VND1 trillion.

By T.Trinh – Translated by Thuy Doan

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