Thailand pushes EU for tax cuts on shrimp - THAILAND - Thailand has urged the European Union to announce its decision on whether to continue extending reduced tariffs under its Generalised System of Preferences (GSP) on shrimp from 2006-08.
Thai Foreign Minister Kantathi Suphamongkhon said the issue was raised as Thailand has always had preferential tax treatment for six years but Thailand's shrimp export volume has recently decreased sharply by more than 90 percent.
Currently, the EU assesses a 12 percent tax on Thai frozen shrimp and a 20 percent tax on processed shrimp. The GSP rates are expected to be 4.2 percent for frozen shrimp and 7 percent for processed shrimp.
Source: eFeedLink - 10th May 2005