New Tax Rate on Artemia Imports Hurting the Shrimp Breeding Industry

7 September 2016, at 1:00am

VIETNAM - Artemia egg importers and shrimp breeder producers have lodged a complaint to the Prime Minister about the imposition of the five per cent import duty which they say will harm the shrimp breeding industry.

The Ministry of Agriculture and Rural Development (MARD) and the Vietnam Association of Seafood Exporters and Producers (VASEP) have also said the tax rate is unreasonable, reports VietnamNetBridge.

Some shrimp breeder production units which are members of the Binh Thuan provincial Shrimp Breeder Association, the Binh Thuan shrimp breeder brand, the best one in Vietnam, is under threat because of declining quality.

Artemia, the best shrimp feed product, has to bear the high import tax of five per cent but the other feed products have only zero per cent.

An importer said that Artermia is priced at VND2-3.5 million per kilo. If the five per cent tax rate is applied, the price will increase, thus pushing up the production cost. This will force businesses to use other normal feed products instead.

On August 12, MARD sent a dispatch to the Ministry of Finance asking to apply a zero tax rate on Artemia.